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|Don't Make These Mistakes|
In our current market, here in Metro Denver and the surrounding cities and communities, you have to do everything you can to make your house stand out from the rest of the market. Here are some pitfalls to avoid:
1. Setting Unrealistic Goals
This falls under both Buyer Pitfalls and Seller Pitfalls, so it has to be important. If you set your expectations too high, there is a pretty fair chance you’ll be disappointed at anything less. So, make sure your Realtor is business and market savvy. Equally important is knowing that your Realtor is technology savvy. Personality and confidence are also key components. We are all living in the super-caffeinated days of instant everything. Your Realtor needs to have the resources to reach out in our ever-changing market. An experienced Realtor has the know-how to help you accomplish your Goals.
2. Making a Crucial Real Estate Decision based on Lower Commission Rate
This is one of the most important financial decisions you can make to help make ensure your future is more secure. As the saying goes, “YOU GET WHAT YOU PAY FOR”. This is so true. If other real estate professionals offer a substantial “savings”, you are paying for it somewhere. More often than not, it is in the service, or rather, lack thereof. When you hire your next Real Estate Consultant(s), make sure they have the most accurate neighborhood information and the most recent activity in that neighborhood or Loft and Condo Building. In the end, this will ensure you meet your goals more quickly and with the most money in your pocket.
3. Choosing Your Realtor Based on Home Valuation
It is true that every seller wants to get the highest possible sales price for their home. In the current market here, if you do not price your home correctly to begin with, you may end up selling it for less than you hoped. Buyers and their agents have access to the same real estate information as sellers and their agents. When looking in a neighborhood, buyers often see all of the houses there. When they find another house that offers the same or more, but costs less, their decision becomes easy. Just because a real estate agent promises the highest price, doesn't always mean that hope will become a reality. Objectively look at current homes on the market, recent sales data, and market conditions to help make your decision.
4. You Don’t Believe In or See Value in Home Staging
While Home Staging is most often used in vacant properties, it also holds great importance if you anticipate living in the property while it is on the market. Staging includes de-cluttering the household, arranging existing furniture, and more. TV shows like HGTV's "Design to Sell" can be helpful. Contact Zac or Kathy to talk about the importance of Home Staging.
5. Want to Sell Your Home as a “For Sale By Owner”
This sounds good, in theory. The possibility of saving money is very alluring. However, there are several major risks you are taking on: 1) Lack of marketing power. Placing a sign in the yard and putting your home on a “For Sale By Owner” website is not enough. By not listing with a Realtor, you are severely limiting exposure to buyers. 2) Buyers usually offer lower on a “For Sale by Owner” (FSBO). They already know the seller is saving paying a commission, so a buyer will account for that in their offer. Sellers most often will sell for a lower price than if they hired a Realtor. 3) The real estate contracts are lengthy and have countless legal implications. Even if you hire an attorney to review the contract, you are still paying a hefty hourly fee. You are better off hiring a Realtor-a professional who understands contracts, market conditions and negotiations. 4) Making sure buyers are legitimate and qualified. You never know if someone is serious about buying a house or checking it for ulterior motives.
6. Staying at Home when the Buyer’s Realtor is Showing their Client Your Home
It seems so innocent to show and tell the prospective buyer about every upgrade and feature in the home. BUT, there is a possibility you may say something about the property and/or neighborhood that turns the buyer off. The difficult thing about this is you may not even know that you caused them to back off. The other issue here is that buyers (and their Realtors) often feel uptight when sellers are around for the showing. The goal is to make buyers feel comfortable and “at home”-a seller in the home at the time of showing does not help accomplish this goal.
7. Defer Maintenance on Your Home’s Exterior or Interior
Most sellers know the strengths and weaknesses of their home. Everyone wants to feature the strengths of their home when selling. On the flip side, it’s easy to cover up or “brush under the carpet” maintenance items. If you know that the roof is on its last legs or systems are beyond the design life, it’s important to deal with it now, if possible. If not, know that this could discourage buyer's interest. A buyer’s inspector will find and identify the issue as well and it's likely the buyer will ask for repair and/or replacement following the property inspection.
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The data relating to real estate for sale in this website comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC. Real estate listings held by brokers other than Coldwell Banker are marked with the IDX Logo. All information subject to change and should be independently verified. Terms and Conditions