NOT KNOWING AS MUCH AS YOUR BUYERS
One of the most common mistakes sellers make is to prepare inadequately for negotiating with a buyer. Do your homework and strongly consider engaging an experienced real estate professional who understands the intricacies of the laws related to home-selling. It’s important to understand your local market. What is the current situation of supply-and-demand in your area? Is it a buyer’s market, with a glut of homes from which buyers can choose? Or is it a seller’s market, in which homes in the buyer’s price range are in short supply? Be aware that the real estate market can change quickly, so educate yourself about current market conditions in your area. Is a major development opening soon that will increase the availability of local housing? Are there plans for a school or retail area or highway or green belt that will change the complexion of your neighborhood? Does a major employer plan to shut their doors and transfer hundreds of workers out of state? Did your city government approve a new master plan for your area? If you’re unaware of developments that could have a deep impact on your sales prospects, you’re conceding a significant advantage to a better-informed buyer. Stay abreast of local news, especially the news in the business and real estate sections of your local newspaper. Here again, a knowledgeable real estate agent can be of inestimable value by staying on top of current plans and trends.
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