CHAPTER 7 Common Seller Mistakes
This list of frequent sellers’ mistakes regarding house listing pricing can help you avoid the pitfalls involved in selling your home. If setting a price was simple and straightforward, you would not need assistance in pricing your home correctly. Save yourself time and money by avoiding these costly mistakes.
PRICING MISTAKES
The first several seller mistakes involve the issue of pricing.
Guessing vs Researching
Basing your home price on what the neighbor down the street listed his home for isn’t a reliable method. Nothing loses potential buyers faster than an overpriced home. Subsequent price lowering makes it look like you’re getting desperate to sell, which will increase low-ball offers. Contrarily, you do not want to underprice. A lower listing price may decrease the time to sell a bit; however, you might leave several thousand dollars on the table. Learn how to price your house for sale the right way, based on research. The Comparative Market Analysis is your best source for setting an asking price. If a home in your area sells for a low price, don’t assume yours is worth the same amount. That home may have had condition issues or a personal issue requiring a very swift sale. Your home might have something to offer that the other one did not. Let the Comparative Market Analysis (CMA) be your guide with the advice of a real estate professional.
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