7 Costly Mistakes Home Sellers Make
We appreciate the opportunity to share this report with you... In today's competitive market, we understand that selling your home can come with its challenges. Nevertheless, hundreds of homes are sold each week in the San Diego area. An important factor to this success is choosing the right agent and someone your trust!
A good agent is the one who understands your needs and makes it their first priority.
Remember not so long ago, when you could make your fortune in real estate. It was nothing then to buy a home, wait a short while, and then sell it at a tidy profit.
And then do it all over again.
Well, as you probably know, times have changed. As good as the market is right now, selling a home is a detailed process and is not as easy as it was 5 or 10 years ago. Buyers are far more discriminating, and a large percentage of the homes listed for sale never sell. It's more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.
We appreciate you taking the time to review this information with us and allowing us to demonstrate how serious we are about getting the job done for you.
7 COMMON MISTAKES TO AVOID WHEN SELLING YOUR HOME
Waiting… Many people put off starting the home selling process longer than they should, and this can cost you tens of thousands of dollars. Home selling has become a more complex business than it used to be. New seller disclosure statements, longer and more mysterious form agreements, and a range of environmental concerns have all emerged in the past decade.
More importantly, the home-selling process has changed. The result is that while hundreds of thousands of existing homes may be sold each week, the process is not as easy for sellers as it was 5 or 10 years ago. Surviving in today's real estate world requires experience and training in such fields as real estate marketing, financing, negotiation and closing. This is the expertise that Glen and Shannon provide.
The home-selling process typically starts several months before a property is made available for sale. The first step is to look at the home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out. This process of preparing the home for sale helps to ensure that your home will attract buyers and help you receive top dollar from the sale.
Glen and Shannon even have a special "Head Start Program" specifically for home owners 3 to 6 months away from the time they actually want their home placed on the market. If you are closer to your desired move date, it is even more important that you do not delay reaching out and starting the process.
A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer.
Prices are projected to appreciate by over 4% and interest rates are also expected to rise by as much as another full percentage point. If your family plans to move up to a nicer or bigger home this year, it may make sense to move now rather than later.
Not hiring the best agent you can... Why should you compromise? Almost three quarters of people claim that if they were to require the service of a realtor again, they would not hire the same realtor. The key to a good relationship is strong communication. Poor communication can produce limited feedback, a lower price, and ultimately a relationship that is strained. Why unnecessarily volunteer as the “school” for an inexperienced agent still learning the ropes? Why unnecessarily put yourself in the hands of a part-time agent only completing a few transactions a year? There are many things in life you must compromise over. This should NOT be one of them.
Glen and Shannon have over 25 combined years of real estate experience and have sold over a thousand homes. That type of experience is what you need when selling your home.
We often hear stories of people feeling obligated to let their friend or relative in the real estate business list their home. This can be a HUGE mistake! Especially if that person “dabbles” in real estate or lacks experience. The sale of your home is an important, substantial financial transaction, where an agent's inexperience, overpromising, or lack of financial resources to market your property may cost you weeks or months of delay, and may cost you tens of thousands of dollars.
You not only want your home sold as quickly as possible, but you want it sold for the highest possible price. You want it sold efficiently, without embroiling you in messy documents, disputes, confusion, or unnecessary open houses or traipsing lots of poorly qualified buyers through your home, disrupting your life. You want a smooth, flawless transaction. This is the kind of totally satisfying experience Glen & Shannon pride themselves on delivering to every client, as evidenced by hundreds of satisfied client testimonials.
Limiting the home’s exposure and the buyer's ability to obtain information... Your home won't sell unless buyers know about it. Your home must be repeatedly and regularly exposed to qualified, ready-to-buy buyers. Remember, buyers can't know about your home unless you or your broker have a marketing plan to ensure that your home is brought to their attention. Unfortunately, this a constant mistake we see made by inexperienced real estate agents and/or lazy agents.
Many agents will tell you that all you need is to have photos taken, stick a “For Sale” sign in your yard, and place your home on the MLS. While these are all important, they are only the beginning piece of the overall marketing plan that needs to be developed for your home. Each home is unique and each marketing plan should be developed to match it.
The only way to guarantee that you’re going to get the highest price for your house is to use all of the marketing options available to you. This is why Glen and Shannon's extensive marketing plan includes professional photos of your home, video tours, drone aerial videos, open houses, postcard mailers, internet advertising, print advertising, 1-800 property information lines, newspaper, radio and TV advertising. The more people who see your home, the better your chances are of selling it for top dollar. In an age when buyers start their searches online, counting on drive-bys and word of mouth isn’t enough anymore.
Under-valuing the power of the team approach... Most real estate agents operate as a one or maybe a two person team. They attempt to juggle all of the balls and wear all of the hats. That is one agent trying to take on the role of a listing agent, a buyer's agent, marketing coordinator, transaction coordinator, client concierge, administrative duties, telemarketing, follow up, etc. The problem is that when trying to handle all of these roles, things get missed.
Real estate is much more complex than it used to be. The pace is faster, buyers are more demanding and want immediate and expert handling, or they turn their attention to other properties.
We can be honest and say that when you sell your home, you pay a lot of money in real estate commissions. In that amount you are paying you deserve to get your money's worth. Wouldn't you like to know that you are receiving the service of eight people, each with their own specific role, and one common goal of getting top dollar for your home vs. just one agent? Would you want your doctor to be the one answering the phone when you schedule your appointment, sitting at the front desk when you get to the office, taking the x-rays in the back room, sitting with you for your consultation, doing the books at night, all why trying to market his or her business? If you said no, why would you expect anything less from your real estate professional?
When working with Glen and Shannon, you have access to a professional team where each member has their own role in marketing and sale of your home. Each person has their own specific role, yet all share the same goal of obtaining top dollar for your home, while providing the highest level of service.
Signing a long term listing without a written, specific performance guarantee... What is your biggest fear when you list your home for sale with a real estate agent? It's simple, you worry about being trapped into a lengthy listing agreement with a less than competent real estate agent. This alone can cost you valuable time and exposure on the market.
According to a recent survey, 72% of home sellers were dissatisfied with the performance of their agent, even if that agent had sold their property!
Traditionally, most real estate agents have required home sellers to sign long-term listing agreements. Unfortunately, many sellers find that after listing their homes, the promised advertising and marketing efforts do not occur. This is understandably a key reason why home sellers are concerned about listing their home for sale with a real estate agent. How do you know the agent will uphold his promises? How do you know that you have an agent who fully understands the art of marketing and is skilled at attracting a steady flow of ready-to-buy buyers through your home?
Always protect yourself by getting a written performance guarantee stating specifically what services the agent will provide, and what marketing the agent will do for you, with the right to cancel the listing in the event of non-performance.
Glen and Shannon remove the risk and anxiety associated with listing your home for sale with their Easy Exit Listing Guarantee! The Easy Exit Guarantee allows you to cancel your listing at any time during the listing period if you are dissatisfied with the level of service you are receiving - no hassles, no cost to you, no questions asked.
Rejecting early offers and/or taking offers personally... You might assume that if you receive a decent offer on your home immediately after you put it on the market, then it means buyers with higher offers are on their way. So, you reject the offer. However, this kind of assumption in many cases will work against you because you may not receive a more competitive offer than the first one. When a home is new to the market, any buyers that have been in the market for a home will see it come up. If it is priced right, an educated buyer who has been in the market for a while and sees the home as a fit will put a serious foot forward. Even though the first instinct is to hold out, the strongest offers typically come in the first 1 to 2 weeks of the property being on the market. Waiting for a better offer is counterproductive and can result in a property languishing.
When you're selling your home, it's easy to take everything personally. But doing so is a big mistake.
As a seller, you need to become emotionally detached very quickly from your home. By its very nature, a real-estate transaction is aggressive and confrontational, since you, as the seller, wants the highest price and the buyer wants the lowest. That negotiation usually means a buyer will point out every flaw with the property. But while hearing that information may sting a little, it's a good sign because it means the buyer is serious. As a seller, you need to be ready to hear criticism of your home and be able to deal with it as a negotiating tool, without taking it as a personal affront and walking away from a potential sale for emotional reasons.
After negotiating nearly a thousand real estate transactions, Glen and Shannon are professionals at negotiating and will be able to guide you through this process in order to ensure that you receive top dollar for your home.
Simply hiring the agent who promises you the highest price... Anybody can promise anything, and unfortunately, it happens. The most common mistake home sellers make is overpricing their home. An overpriced home will be neglected by buyers and their agents. A seller who lists their house over the local market value will have to drop the asking price eventually. By then, the interest on the property will have fizzled out and the freshness and appeal are lost. You may also have to settle for a listing price that is significantly less. Another major downside is that by overpricing your home, comparable homes that have appropriate listing prices will look like a bargain. You just gave competing home sellers a free boost. Remember that a property is most active in the first two weeks of being on the market.
In the real estate industry, we often see agents giving potential sellers an unrealistic value just to obtain the listing. The term we use for this is "buying a listing". You need to look at an agent's actual, documented track record to see how accurately they are able to price a home.
Glen and Shannon's average list to sales price ratio is 101.44%! (As of 3/13/14, according to 24 months of records.) The industry average is around 95%. In short, they are proven “Truth in Pricing” experts. They know what a home can and will be sold for. They give their clients truthful, frank advice on price and they negotiate “tough” with buyers to get their prices paid.
You should go with the agent who proves that he or she can accurately predict the top dollar price your home should sell for - and then get it.
Thank you again for giving us the opportunity to share this report with you...
If you have any questions regarding the information that was included in this report, please do not hesitate to reach out to us with any questions you may have.
We also offer a free service, in which they will come out to your property to meet with you and do a walkthrough of the property to let you know any repairs and/or updates they would recommend to help increase the value of your home before you list it for sale. Included in this service is a detailed report letting you know the current value of your home. The best part is, there is NO COST or obligation for this walk through and report.