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Real Estate Article:  Fatal Mistakes Some Sellers Make and How to Avoid Them

Sometimes sellers make mistakes that can cost them hundreds, if not thousands, of dollars.  These mistakes can also cost them time and cause a lot of frustration.  Hopefully, you will learn how to avoid these mistakes.

Some sellers just put their homes on the market without taking the time to make sure it is in top condition and shows great.  This is easy.  Just get your home ready before you list.  Linda has several articles on condition on this website.  She also knows a professional stager who can make sure that your home will make the prospective buyers fall in love with it.

Some sellers believe their home is worth way more than the market says it is worth.  Don't be like these people.  In the last few years, sellers might have had the luxury of thinking that way. But even in hot markets, a home that is dramatically overpriced will not get shown.  Find an agent who will give you a detailed Market Analysis on your home so it will be priced for today's market.  To make it easy, just give Linda a call.  It takes her a while to work up a good market analysis, but it is worth the wait!

Some sellers have a hard time looking at their home through the eyes of a prospective buyer.  It's hard to be objective about a home you've lived in and loved for years.  A home where you have raised your family.  That's why you need a good agent.  Linda will look your home over well and let you know what buyers will think about it.  

Some sellers focus on what they need out of their home, not on what the market says it is worth.  Don't be a seller who has already "spent" their equity before they get it.  You will end up overpricing you home.  And in today's market, that means it won't sell. 

Some sellers don't realize that they have to sell the home 3 times.  Yes, you saw that right.  A home has to be sold 3 times.  

First it needs to be sold to the real estate community.  That means making sure it is priced right and presented properly in the MLS system.  That is your agent's responsibility and agents who don't realize this can keep your home from selling.

Next it needs to be sold to a buyer.  It needs to be staged to draw the prospecting buyer and make them fall in love with the house.  It needs to be priced right so they will come and look at it.  Once you get that offer, you need an agent who will help you with negotiations so the house will truly be sold.

Oh yes, there still is that 3rd time it has to be sold.  This time it is to an appraiser.  If it is priced right and all repairs are taken care of in advance, this shouldn't be a problem.  But there are times that an appraiser doesn't agree with the price the buyer and seller have agreed on.  That's when an experienced agent is really worth the commission that you pay them.  A good agent can usually help the appraiser understand the pricing and can work to get the appraisal changed.  But this cannot be done if a home is overpriced to begin with.

Linda Grissette, GRI, e-PRO Certified

The Best Seller GMAC Real Estate, 3829 Veterans Memorial, St. Peters, MO 63376 

Licensed in the state of Missouri.

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