Save Money, Avoid Pitfalls, Enjoy Less StressThinking of Selling? Maximize your gains by avoiding these 5 Seller Mistakes!
Sample from Inside eBook
Falling into the “gotta get” pricing syndrome. “The market determines the price for which you’re going to sell – not what you need to get out of a deal,” says Daryl Jesperson, a Senior Vice President with RE/MAX International realty chain, based in Denver.
Suppose, for instance, that a couple living in a modest three-bedroom colonial – call them the Wilson’s – decide to trade up.
One Sunday, the Wilson’s happen upon an open house at a new development of four-bedroom homes. They’re taken in with the extra space, skylights, oversized bathrooms and walk-in closets. In their enthusiasm, they sign a contract.
To buy the contemporary, the Wilson’s determine that they must sell the colonial at X-amount. Regrettably, the amount they need from the old house is $10,000 more than the prevailing price for similar homes in their neighborhood, and they price the colonial at the “gotta get” level.
But it quickly becomes apparent to buyers that the colonial is priced higher than its competition, and most won’t even bother to visit it. That means that during the first 30 days of the listing – when the home should generate the most excitement – it gets few lookers.
Worse, the home becomes shopworn. As it languishes on the market, people become suspicious that something must be wrong with it.