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3 Common Mistakes Home Sellers Should Avoid

Selling a house today is not an easy task to do. Several factors contribute to making it difficult including higher unemployment rates, uncertainty and downturn in the economy, reduction in work hours and the decline of house values at double digit rates.

More homes are being sold today as compared to the last year. Even then, sellers must be willing to do what it takes to sell their property and refrain from certain mistakes which can cause delay and create hurdles to make the house sell. These include:

1. Do Not Overprice Your House

Overpricing leads to greater chances of buyers not picking your house. Your property will be sitting on the market for a long time with no one to buy it, if you set the price too high. It is better to price your property correctly, because the longer the house sits on the market, the more likely it is for buyers and agents to consider that there is something wrong with it.

To do this, ask your agent to prepare a comparative marketing analysis (CMA) of homes sold recently along with a current listing. Check out homes in your area similar to yours that recently got sold. It will give you a fair idea for the asking price in terms of size, style, type and other features your house has to offer.

2. Do Not Make It Difficult To Show Your Home

About 90% of buyers do shopping online these days and are instantly notified as new listings are on the market which meets their criteria. Within hours of going up for sale, requests from buyers and their agents can come in to see the house. Turning away these potential buyers or making it difficult to show them the house in any way would send a message that you are not serious about selling your home. Prioritize the buyer’s schedule to see your home and make sure that your listing agent is available and has backup agents to cater to showings at all reasonable hours.

3. Do Not Blow Off the First Offer

The first offer is usually the best offer as the buyer is highly motivated and ready to make the deal. The first offer might be a lowball offer but blowing it off means running the risk of having the home sitting on the market for about 4-5 months till the next offer. Being willing to negotiate can help the buyer come out more realistically in their offer and facilitate the sale of the house.

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