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How Not To Sell A Home

The Two Best Ways Not To Sell A Home

We are going to take a different approach today and offer some good “do not’s” when it comes to putting your home on the market. We get so bent out of shape with questions regarding staging, marketing, should I do this? should I not do that? Thus we have compiled a list of three simple things you really ought not to do if you ultimately want to get the home sold! If you are not interested in selling your home, be sure to do all three!

 

 

Overprice it

This one must head the list, because nothing will so much ensure that the home will not sell as much as an overpriced property. Buyers, agents, and the like have a wealth of information available to them to help them determine what your home is worth. Additionally, they have other homes on the market to look at, and just like in any other marketplace, home buyers will buy the home that offers the most value at the most competitive price. The best way to capture the most value out of the home is to price it at or slightly below market value, causing the auction effect, bidding the price up. Days on market, price reductions, are going to hurt the overall value you are able to capture out of the home. Besides, if you intend on overpricing your home, you will have to count on a cash buyer or request that a finance buyer remove the mortgage contingency, because the bank is going to send out an appraiser to value your home. No matter how well your home is marketed, no matter how great your agent is, the home is only worth what a buyer is willing to pay for it, and buyers are not willing to pay more then what its worth.

 

Choose A Poor Representative To Market The Home

Choose an unprofessional agent to represent you in the sale of the home. In the Real Estate world visuals are everything, with 90% of the buyers first seeing the property online, and their are still agents that homeowners sign listing agreements with for thousands of dollars, and use their cell phones to take pictures. Furthermore, most agents are going to put the home on the MLS, and hope that another broker is going to sell it. Meanwhile, according to the National Association of Realtors, 82% of home sales occur due to an agents connections. So you want an agent that is one going to set the stage nicely and make sure you capture as much traffic and that your home stand out on the internet, and two, market the home pro-actively to their network, other brokers, the neighborhood, properly. That way you are granted the most exposure and get the best value out of your asset. Additionally, this person is going to be on the front lines for you, negotiating and trying to make a sale happen, make sure they have the qualities that lead to a transaction happening and not to buyers running away.