CHAPTER 3 Navigating Potential Pitf ential Pitfalls in Your Home Sale When selling your home, mistakes can be costly. Some are minor, but others like the ones you’ll read about here can result in losing tens of thousands of dollars. The good news? These errors are preventable with the right knowledge and preparation. Here’s another example of a mistake that cost a seller $50,000 yes, $50,000 on their home sale.
The Costly Mistake of Choosing the Wrong Agent
An out-of-town owner hired an agent unfamiliar with the local market to sell their $780,000 property. This agent not only suggested an unrealistically low listing price of $730,000 but also failed to implement basic marketing strategies. The agent didn’t bother putting a “For Sale” sign on the property, meaning very few buyers even knew it was on the market. Despite this, two potential buyers became interested. • Buyer #1 was the neighbor, eager to expand his yard for his kids. • Buyer #2 lived nearby and wanted to build a new home on the property. Before Buyer #2 even found out about the sale, Buyer #1 made an offer at the listed price, and the seller accepted it. Buyer #1 was thrilled, he would have gladly paid full market value, but the seller never gave him the chance.
7
Powered by FlippingBook