More than half of the mistakes home sellers make revolve around pricing. This is particularly true in the luxury market. The mistake is not always setting the price too high. The mistakes come when the seller wants to base the price on the original price they paid for the home, the cost of added improvements, or replacement cost.
Additionally, sellers often hire a Realtor based on the highest listing price rather than on the agent’s qualifications. Typically, the inflated listing price has to be reduced to sell the house.
Having a professional real estate agent who specializes in your area perform a comparative market analysis is the key to pricing the home correctly. Otherwise, it is more likely that prospects will not make offers and the house won’t sell or you may sell the house for less than it is actually worth and leave money on the table. Contact Ben Wolfe to receive a free comparative market analysis.
Condition of the home becomes the key factor for the next two mistakes. People often neglect to perform minor repairs and touch-ups that greatly improve a home’s value to buyers, and they don’t increase the home’s appeal by replacing dated carpet, wallpaper or brightly painted walls.
Sellers often have misconceptions about what it takes to sell a home based on advice from family or friends. It takes a lot more than sticking a sign out and entering a property into the MLS to sell a property in today’s market. Contact Ben Wolfe to learn how we will market and sell your home.
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