CHAPTER 9 Common Seller Mistakes
In this chapter, we’ll explore some of the most frequent missteps to avoid so you can enter the market prepared, and maximize your results. As previously discussed, setting a price is not always simple—although a real estate professional can help it feel that way. It’s important to strike the right balance from the start, as the first few days on the market are often the most critical. Careful planning and awareness of these errors can make all the difference in securing a timely and profitable sale.
PRICING MISTAKES
Pricing your home correctly is essential, and guessing based on a neighbor’s listing is a common—and costly—mistake. Their home may be different, and their asking price may not reflect true market value. It may have condition issues or a personal issue, requiring a swift sale. If a home in your area sells for a low price, don’t assume yours is worth the same amount. Another common pricing mistake is to start too high in hopes of negotiating down. Starting too high, and reducing the price later, can make your home appear difficult to sell, signaling desperation to buyers and encouraging low-ball offers. It’s also common for sellers to make the mistake of setting the price too low. Starting too low may help you sell faster, but you could lose thousands of dollars. Instead, take the time to price your home the right way—based on solid research and advice. As mentioned in Chapter 2, a Comparative Market Analysis (CMA) is the best source for setting an asking price. A CMA 54
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