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Common Selling Mistakes
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Mistake #1 -- Placing the Wrong Price on Your Property
Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.
Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.
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Common Selling Mistakes
There are some common errors that can be avoided when you are selling your home. I want to make sure you are well informed.
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Hard-Won Lessons from a Home Owner
Minneapolis home owner Lucie Amundsen’s husband was transferred north to Duluth, Minn. She stayed behind to sell the house. Here's what she learned about selling a home in a tough market:
- Make the commitment to sell. “This market eats wishy-washy sellers alive. Sellers should be prepared to let go.”
- Steer clear of useless feedback. “I should have had the real estate professional who listed my home turn off the electronic feedback feature. He could have passed along any helpful information, while filtering out the more hurtful and pointed comments.”
- Be prepared for the long haul. “Because I adore my house, I just assumed other people would, too. “
- Respond to the market. “Long before the 40th showing, we should have dropped the price or taken the property off the market.”
Source: Star-Tribune, Lucie B. Amundsen (06/28/2008) | |
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Bob Pisa
REALTOR®, e-PRO®
239-898-6865
Toll-Free:
888-678-2500 X32
mention BobPisa.com!
EMail Bob
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What do you like most about your current house?
(A) Neighborhood
(B) Size
(C) Amenities
(D) Yard
(E) Other
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