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9 common Mistakes Sellers Make:
1. Pricing Incorrectly
2. Failing to 'Show Case" the home
3. Using the "Hard Sell" during showings
4. Mistaking lookers for buyers
5. Not knowing your rights and obligations
6. Signing a listing contract with no way out
7. Limiting the marketing and exposure of the property
8. An appraisal is not the market value of your house
9. Choosing the wrong Realtor, or for the wrong reasons
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1. Pricing Incorrectly
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Every seller wants to realize as much money as possible when he sells his home. But a listing price that is too high often gets the seller less than a price that is at market value. If your house is not priced competitively, people looking in your price range wireject your house in favor of other, larger larger homes for the same price. At the same time , the people who should be looking at your house will not see it because it is priced over their heads! Overpricing usually increases time on the market, and that adds to the carrying costs. Ultimately, many overpriced properties sell below market value. To help avoid this, we can prepare an extensive Market Evaluation of your home .
2. Failing to 'Show Case" the home
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Buyers look for homes, not houses, and they buy the home in which they would like to live. This is why we stage/
decorate our listings. We assess a home starting right at the front door and recommend as well as make the
necessary changes needed to get you top dollar! We have purchased over $15,000 in supplies specifically for
decorating our listings. We have tables, chairs, dishes, pictures, lamps & many other items to transform a home
into a lovely showplace. Our clients just leave for the day & we do it all! The Willow Glen Resident wrote our
story on Aug. 27th & we were also interviewed in Monterey on the Home Lifestyles show. It's alot of work but
the results are well worth it! In the past 2 years 65 of the homes we sold were formerly on the market with other
companies 4 months to 2 years and we decorated and sold them in an average of 18 days. (some in only 1 & 2
days)
3. Using the "Hard Sell" during showings
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Buying a house is an emotional decision. People like to "try on" a house and see if it is comfortable for them. It' s
difficult for them to do that if you follow them around pointing out every improvement that you made., It may even
have the opposite effect you want, by making them feel they are intruding on your private space. Resist the
temptation to talk the entire time a buyer is there, and let them discover things on their own. Try a tasteful sign to
point out some hidden amenity that they might miss.
4. Mistaking lookers for buyers
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For Sale by Owners always get more activity than houses with an agent. No questions about it. Realtors will only
bring qualified buyers, and these will be fewer than if you open your front door to every one who walks down the
street. A qualified buyer is one who is ready, willing, and able to buy your house. We find that most people who
go looking at For sale By Owners are just starting to think about moving. They may be good buyers, but they're
just 6-9 months away from being ready. They don't want to bother an agent yet, so they call the "By Owner" ads
to get a feel for what's available, fixing. They may have a house to sell first, or may need to save some more, or
may have credit that needs fixing. When everything is in place, that's when they go out looking with a Realtor. An
agent will ask a buyer how much he can really spend for a house, how much he has to put down, how good his
credit is, how much he can pay each month, how much he will realize (realistically) when he sells his present
home- and about a dozen other questions like that. But unless your Realtor finds all the facts first,you must ask all
these questions before the buyer crosses your threshold, Otherwise,you may have a parade of Sunday afternoon
shoppers with a dream of owning a home someday.
5. Not knowing your rights and obligations
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Real estate law is extensive and complex; the contract for sale and purchase is a legally binding document. An
improperly written contract can cause the sale to fall through, or cost you thousands for repairs, inspections, and
remedies for title defects. You must know whether the property can legally be sold "as is", and how deed
restrictions and local zoning will affect the transaction. If there are defects in your title, or if your property is in
conflict with local restrictions, you or your Realtor must remedy them, or you might have to pay plenty.
6. Signing a listing contract with no way out
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Many times an agent will have good intentions about marketing your house, but circumstances can change. There
might be a death in the agents family, or the agent may decide to quit the business. In these cases where the agent
couldn't or wouldn't perform, you should have the right to fire your agent. In some companies the broker will
assign your listing to someone else in the office someone you didn't personally select. Always protect yourself by
getting a guarantee of performance with the right to cancel.
Paul Conti offers a guarantee here...it' s called the Easy Exit Guarantee! If you ever want to take your property off
the market, for whatever reason, Paul guarantees that he will immediately do so...no questions asked. Call his
office at 408-345-1913 for a copy of this guarantee!
7. Limiting the marketing and exposure of the property
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The two most obvious marketing tools (open houses and classified ads) are only moderately effective,
Surprisingly, less than 1% of homes are sold at an open house. Agents use them to attract future clients, not to sell
the house!
Advertising studies show that less than 3% of people purchased their home because they called on an ad. And if a
machine answers, most callers just hang up without leaving a message The right Realtor will employ a broad
spectrum of marketing activities, emphasizing the ones he believes will work best for you and your particular
property. There are dozens of more effective ways to find buyers than just open houses and advertising.
8. An appraisal is not the market value of your house
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An appraisal is an opinion of value for a certain purpose. If the lender wants to lend you the money, they are
motivated to have the appraisal come in high. The appraiser may ignore foreclosure or distress sales in order to
justify the higher value. But a real buyer in the real world will not ignore these properties. They are your
competitors when you try to sell.
We can't tell you how many ridiculous bank mortgage appraisals We've seen. Don't make the mistake of thinking
that the value you were told even 6 months ago when you re-financed is what a real buyer would pay. Ask your
Realtor for ALL the solds in your area, then decide.
9. Choosing the wrong Realtor, or for the wrong reasons
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It's likely that you don't interview people very often. And yet in order to find the Realtor who is right for you, you
may interview several. The quality of your home selling experience is dependent upon your skill at selecting the
person best qualified.
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