Sellers Beware!

Selling your home can be exhausting. If you are not completely prepared, you could end up losing thousands of dollars in profit.

The difference between a profitably smooth transaction and a break-even, miserable experience is often a fine line. In most cases, it comes down to your professional's know-how. Using a qualified real estate consultant's knowledge ensures the quick, profitable sale of your home. This report shows the 10 common mistakes that cost sellers serious money.

1. Refusing to Make Profit Inducing Repairs:
It always costs you more money to sell ‘as is’ than to make repairs that will increase your homes value. Even minor improvements often yield as much as three to five times the repair cost at the time of sale. Your agent will point out what repairs will significantly increase your home's value. Seemingly small fix-up jobs can have quite an impact.

2. Not Providing Easy Access for Showings: Accessibility is a major key to profitability. Limited appointment-only showings are the most restrictive. However, there are certain considerations to take into account: your lifestyle, time frame for the desired sale and the relationship with your agent. The more accessible your home is, the better the odds of finding a person willing to pay your asking price. You never know if the one that couldn’t get a viewing was the one that got away.

3. Pricing Too Low/Too High: One critical reason to find the right professional is to make sure your home is priced appropriately for a timely and profitable sale. If your home is priced too high it will sit and come to be known as a "problem property." If it’s priced too low it could cost you considerable profits. The real estate market has subtle nuances and market changes that should be re-evaluated by your agent every 10-14 days to help you maximize your return.

4. Relying Solely on Traditional Methods to Sell Your Home:
The agent who is innovative and willing to offer new strategies of attracting home buyers will always outperform agents who rely on traditional methods. Demand around-the-clock advertising exposure, innovative ways to generate leads and accountability. These services exist and should be offered.

5. Believing in Market Timing/Seasonal Selling:
Just as a stockbroker continually follows the market trends, professional agents continually follow trends of your home market. They will know if the market cycle is poised to net you the most money. Avoid believing that property sales are seasonal; homes are always selling.

6. Refusing to Make Cosmetic Changes: The prospective home buyer’s first impression is the most important. An unbelievable amount of home sales have been lost to unkempt lawns, cluttered rooms, stains, unpleasant odors -- all seemingly little things. Imagine you are the home buyer, then clean your place from top to bottom military-style.

7. Wasting Time with an Unqualified Prospect: Your agent’s responsibility is to screen a prospect’s qualifications. Be sure to align yourself with the right professional who will not negotiate with unqualified prospects.

8. Testing the Market When You're Not Ready:
Never put your property on the market unless you are serious about selling. When you're really ready to sell, you do not want to tarnish your home's appeal by it being known as one that did not sell when first available.

9. Believing You Are Powerless to Make a Difference: Be a part of the team! Take an active role with your agent to see what you can do to facilitate your sale. Networking with professional peers and personal friends often results in a home sale. It’s surprising how many homes are sold this way.

10. Believing All Realtors Are the Same: With all the intricate details and critical decisions to be made concerning your home sale, why rely on anyone but a top-producing professional? Many friends and family members have been estranged from failing to meet expectations. Your home sale is a time-consuming, effort-related, difficult task. Maximize your profits by hiring a qualified professional. A more experienced agent can produce a 1%-7 % increase in sales price.

We sincerely hope you find value in these tips. If there is any way we can be of service, please contact our office at 310-255-5454. We consider it a privilege to be of service.

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