CHAPTER 9 Common Seller Mistakes
This list of common mistakes sellers make when pricing their homes can help you avoid costly pitfalls during the selling process. If determining the right price were easy, hiring a real estate professional wouldn't be necessary.
PRICING MISTAKES
The first several seller mistakes involve the issue of pricing. This is the NUMBER ONE reason that homes go unsold. Don't make this costly error.
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! NOTHING! Subsequent price lowering makes it look like you’re getting 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! NOTHING! Lowering the price later can make it seem like you’re desperate to sell, which will invite low- ball offers. However, you don’t want to underprice from the start, either. A lower listing price may reduce the time to sell slightly but you could end up leaving thousands of dollars on the table. Learn how to price your house correctly 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 56
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