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You want to sell your home, but you can't! The birds are nesting in your
For Sale sign! You can't imagine what is taking so long! Don't
give up hope.
Following are some common mistakes that sellers make and what you can
do about it. |
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We
would all love to believe that we should receive
top price for our home – a home full of memories
that are priceless – to us!
The fact is that the Buyers, not Sellers, determine the price of a
home. You can always ask for any price you like, but at the end of
the day the Seller will have to decide to accept what the Buyer thinks
the home is worth.
Overpricing is the number one reason that homes don't sell. When you
set an unrealistic price it can work against you. Real Estate Agents
and buyers will most likely see your new listing within the first month
your home is on the market. If you're priced even 5% over the average,
they take note; especially if you won't budge off the price.
Some buyers may already be approved for financing at a lower price.
Even if you find someone to accept your inflated price, you run the
risk of the appraisal not coming in where you need it to be. Your agent
may go along with your price to keep you as a client, but other agents
will sometimes use overpriced properties to help sell their own, lower
priced homes.
You need to be competitive with homes that are similar to yours. If
your home stays on the market too long, especially in these times,
buyers become aware of that and they may start to wonder what is wrong
with your property. In the same vein, agents may stop showing your
home altogether.
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When prospective buyers tour your home, they need to be able to imagine
it as their own. It is wise to remove as much clutter as
possible.
Clearing off counters, taking down pictures and removing unused furniture
can all help to create the feeling of more space in your home. When you
are competing with brand new houses, a little cosmetic work can go a
long way. Have the carpet cleaned! Paint a few walls! Clean up the garage!
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Location, location, location! Its
true – this can be a huge factor
in the sale of a home. A desirable
city or great school district can
add thousands to the price of a home.
On the flip side, an undesirable location can really limit your options.
A good agent will do their best to highlight the positives of your
home and play down the negatives. The bottom line is that the best
way to compensate for a bad location is to lower your price or offer
incentives to people, such as seller financing or a lease option with
rent credit.
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When things are hot, they're hot. When they're not, they're really not!
In a "Seller's Market", homes go fast and inventory is low. That
means less competition and a better chance of getting your asking
price, and in some cases even more!
On the other hand, in a "Buyer's Market", not only are you competing
with other homes that need to sell, you are also up against new home
developments. When things are "cold", sales slow to a trickle. Your only
options are going to be to lower your price or wait it out until the
market turns around.
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At this point, many sellers
consider renting out their homes until conditions
improve.
With all of the technological advances in today's world, your Real Estate Agent
needs to be able to compete to get your home out there.
The top performers today have multilevel marketing plans in place to help sell
your home. With the internet so much a part of our lives, your agent needs
to be computer savvy.
We hope this article has been helpful! If your home isn't selling, carefully
check the list above and consult with your real estate agent to see what else
you can do to sell your home as soon as possible. Happy Selling!
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For more
information, contact:
Alan
Bien, Realtor, SRES, MBA
Coldwell Banker Previews International
Direct 650-917-4242 : Mobile 650-492-0811 : Office 650-948-0456
Fax 650-948-3749 : E-mail Alan.Bien@camoves.com
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