4 Hot Points that lose Home Seller's Money

Posted by Tracy Cousineau on Friday, May 12th, 2017 at 11:38pm.

maximizing your return while selling your house

The Real Estate industry is on fire across many areas of America. The inventory of Homes For Sale is low and the demand of buyers wanting to lock in a lower interest rate with the threat of rising rates has created a great enviroment for house sellers. It's devastating to see a house fly off the market really quick, knowing that the seller has left Equity on the table in the sale of the home. While interviewing an agent to Sell your House, make sure that you ask the right questions or it could lose you money on your biggest investment.

1. Underpricing the Listing Price: All to often, we see a house that has been listed or have visited an interviewing seller where an agent has missed the mark pricing the house by as much as five percent or more. Now that doesn't sound like alot, on a $300,000. house, the loss is $15,000. to the seller. The flip side of the coin, agents can price the house too high and the house fails to sale. It's also a statistical fact that listings that were reduced in price, sell for less than not having price reductions. Many agents still use a CMA (Comparative Market Analysis) to price listings, a CMA is an algorithm that does NOT know if comparable homes were sold for less because of poor condition, offensive odors, distressed situations, lack of upgrades, etc. A CMA is equivilent to listening to music on a cassette tape, you can still listen to the music but there are a lot more efficient and effective technologies today. 

2. Low Budget Marketing: Real Estate is a function of supply and demand, the more buyers that can view your home, the higher it drives demand on the product, your house. The average real estate agent sells only six homes per year and has a marketing budget of only $89. per month. This doesn't leave funds for Marketing in today's fast paced Internet world. Most of us today enjoy immediate gratification, if buyers immediately aren't seeing what they like, in the click of a button they are on to the next house. The traditional agent puts a sign in the yard, takes photos with a smart phone and plugs the listing in the local MLS. Ultimately, not attracting the biggest pool of buyers, misses opportunites of attracting a buyer willing to invest more in your house.

3. Lack of Preparation: Many times we have sellers call us to sell their house after it has failed to sell with other agents. In some cases listed for several years with multiple agents. When you take the right steps in the right order it can have exceptional results but putting even the right steps in the wrong order can be catastrophic. Make sure that you hire an agent with a team of professionals; market research has proven that certain aspects of preparing a home will NET you more money while selling your home.

4. Inexperienced in Negotiating: Improperly trained agents can give seller's money away quickly with a phone call from a skilled buyer's agent, releasing the seller's bottom dollar. It's horrible to see it happen but it happens. There are many phases of negotiating a real estate transaction from Pricing, to negotiating offers, counteroffers and repairs to be made, knowing what to do when an appraisal comes in below the sales price. This is more than likely where most sellers give away their hard earned equity, in the snap of a finger.

In this hot market as a home seller, make sure you are not only selling your home but also maximizing your return on your biggest investment. These are only 4 hot topics that can lose sellers money. When thinking about listing your house, reach out to a Certified Home Selling Advisor, they have a Proven system to get Home Sellers Up to 18% more Money than traditional real estate agents. They manage over 118 variables while selling your house for top dollar in your time frame.  For more information CLICK HERE.

 

To contact Tracy Cousineau, go to TracyCousineau.com or text/call 770-378-3161

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