CHAPTER 10 Learn From Other's Mistak om Other's Mistakes
To avoid selling your house for less than it’s worth and leaving money on the table, it’s helpful to find out what other people have done wrong. These are examples of costly mistakes, including mistakes made by banks. The final story demonstrates how pricing your home right the first time is crucial in a changing market. OVERPRICING: THE EASIEST WAY TO LOSE MONEY ON YOUR HOME SALE The #1 reason people lose money on their home sale (as in, not getting all the money they could) is overpricing. They think their home is worth ‘x’ dollars without researching the value. They put their house on the market above what it is worth and never realize their mistake. They blame the agent, the marketing, the time of year - anything but understanding the real reason the house did not sell, which is overpricing the home to begin with. That is why it’s so critical you have a real understanding of the value of your home in today’s market before you put it on the market.
NOT HAVING THE HOME 'SHOW READY'
As discussed earlier in this book, how we live in a home and how we sell a home are two very different things. To get the best price out of the market, your home needs to look like a model home and appeal to buyers senses, including sight and smell. Having a well-kept home that is immaculately clean, smells fresh and has a light and bright spacious interior with current furnishings will generate the best response from the market. You have only 63
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