Five Costly Selling Mistakes
Selling
your Minneapolis real estate is the biggest financial transaction most of us ever make.
Common mistakes can add up to big losses in time, energy and
money.
Failing
to Showcase Your Home.
You position your
house as a "fixer upper" when you put it on the market in need
of repair. A home not showcased to its full advantage will
encourage lower offers. It is also a "red flag" indicating
other hidden defects.
Mixing Business
with Friendship.
Despite the fact that a house sale is the biggest financial
transaction most people make in a lifetime, some sellers feel compelled
to list their property with a friend or relative. To sell your home
for the best price obtainable, hire
your best agent, not your best friend. Negotiating skills, marketing
skills, experience and neighborhood expertise can make a huge difference
in the price you receive and in closing the transaction without a
hitch. A real friend will understand your decision.
Not
Taking the Initial Offers Seriously.
Experienced Minneapolis realtors know that offers received early in the selling
process typically end up being the best ones. The home is most
saleable early in the marketing period, and the amount buyers are
willing to pay diminishes with the length of time a property has been on
the market. If your home is priced right and marketed
strategically, you can count on receiving the best offer early in the
selling process.
Over-improving
before Selling.
Sellers sometimes spend thousands of dollars making the wrong
improvements in the mistaken belief that they will recoup the cost. If
you are thinking of selling, we would be happy to meet with you before
you undertake major improvements to discuss what upgrades are cost
effective.
Incorrect Pricing.
Overpricing a home can be an expensive mistake. The Minneapolis real
estate market is so
sensitive to price that overpricing, by even a few thousand dollars,
usually results in a longer selling period and lower offers.
If your home is not priced competitively, buyers will reject it in favor
of other larger homes for the same price. They will be reluctant
to counter with an offer, because of the great discrepancy in price. At
the same time, the buyers who should be looking at your property will
not see it because it is "out of their price range."
