These costly mistakes can cause your house to sit on the market!
You put your house on the market, ran an ad in the newspaper classifieds, and sat by and watched as the phone didn’t ring. To make matters worse, few, if any people came by the house. This happens frequently, and the problems in all cases are usually the same.
Danger #1: The Dangers of Pricing Too High
You probably have lots of emotion built into your house. Maybe you fixed it up, or you raised your children there. You home is a special place. But when it’s time to sell, don’t let emotion play a role in your pricing decision!
Many sellers don’t understand that overpricing can result in your getting LESS for your house than if you had priced it correctly in the first place. Knowledgeable agents and buyers often won’t bid on an overpriced home. By the time you reduce the price to where it should have been, many of your best prospects will have moved on to other houses. This decreased demand for your property. The problem is exacerbated if you placed your home on the market in the spring, it sat on the market “overpriced” through the summer, and now the market has slowed.
Also, consider that agents tend to steer buyers away from homes that have been in the Multiple Listing Service for long periods of time. Agents and buyers become suspicious that something is wrong with the property if it didn’t sell relatively soon after going on the market. It’s important to price it right the day you list it for sale!
Danger #2: Lack of Exposure
It’s a fact that most real estate transactions occur between buyer’s and seller’s agents. Buyer’s agents typically find properties for their clients through the Multiple Listing Service. Not being in MLS makes it extremely difficult to get buyers through your door. If your home is not in the MLS, you’re off the radar! Hire a good real estate agent, and get into MLS!
Aggressive marketing strategies are part of what gets your home sold. In a hot market, the MLS is probably the only exposure your home needs. But if the market is anything less than red-hot, your agent will need to expose your home to many people – through fliers, social media, web marketing, open houses and email blasts to other agents. This is only part of the multi-step marketing plan Fuqua Group uses to promote homes we have for sale.
Danger #3: Not Packaging Your Home for Sale
Curb appeal is everything! You can take two identical homes next door to each other, both for sale. The first home has a cluttered yard with tall grass and weeds. The shutters are chipping. There are toys in the yard. Inside, the house is cluttered and the walls could use a coat of paint. On the other hand, the owners next door paid a landscaper to mow the lawn, trim the shrubs and clear the gutters. Inside, they added fresh coat of pain and cleared their clutter. Two identical home. Both owners bad the same amount – guess which home is going to fetch more money???
A few days or labor and minimal investment can make the difference between your house sitting on the market and selling the day you put it on the market. Cosmetic appeal is essential!
Danger #4: Negotiating Foolishly
If you appear too eager or too anxious to make a deal, buyers become suspicious. Worse, they may lower the offer because they think you’re desperate to sell your home. Stay cool!
You probably have a lot of emotion invested in the house, which can certainly get in the way of effective negotiations. The best thing you can do is let your real estate agent handle your negotiations. Although we are personally invested with our clients, it’s our job to remain emotionally detached from you home to provide the most effective negotiations. This is where Fuqua Group shines! We have the experience and strong negotiating skills that ensure you get the best deal and the best possible terms of sale.
YOUR Bottom Line
Hiring an agent with the right experience and marketing plan is critical in selling your home fast and for top dollar. We know how to package, price and aggressively market homes for sale. I consider the sale of your home to be a new product launch that requires a proven marketing strategy – and brilliant execution.
We meet our clients’ expectation by packaging and aggressively marketing your property through my proven, highly-effective marketing channels and expertly negotiating with buyers to maximize the equity you get from the sale.
I hope this blog was informative, and I’m available to answer any questions you have about how to create the necessary exposure for your home to get it sold fast, at the price you want. You can call me at any time for advice, and please remember you’re under no obligation. We’re here to help!
Cheryl Fuqua, ABR, CRS
The Fuqua Group