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. An old real estate saying certainly rings true: "Price it right, it sells overnight; price it wrong, it stays on too long." I can't emphasize this enough! Why is this true? • A new home has a period of intense interest when it is first put on the market. Terri Williams likens overpricing your home to "Russian Roulette" in a Forbes real estate article dated July 13, 2023. You waste this critical time if your price is not in line with the market. • Buyers aren't highly motivated to make offers when the price is high. The result is that your house can end up sitting on the market too long. Then, potential buyers start questioning what is wrong with the property after it hasn't sold for months. Next thing you know, you're just getting lowball offers from people who think you're desperate to sell. • You must have pricing that is based in reality if you're going to sell a property to buyers who are financing the
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