Selling Pitfalls to Avoid

Perhaps you’re considering selling your home or are ready to place it on the market. Whichever the case, you will increase your chances of selling by heeding the following tried and true advice. Be prepared to make your home accessible to prospective buyers by cooperating with showing times and by removing from the equation such potential negatives as an overly friendly or noisy pet.

Take inventory of defects and outdated decor; then make necessary repairs and cosmetic improvements that will create the best impression. If you’re a pack rat who stockpiles broken household gadgets, magazines, old clothes, toys, etc., make a commitment to eliminate clutter before putting your house on the market. The goal is to showcase your home in the most spacious, aesthetically pleasing way possible. Don’t be penny wise and pound foolish.

The most enticing price tag quoted for your home may be totally unrealistic, and in short order you may find yourself playing the price reduction game. Be savvy, and choose a real estate broker who intends to work with your best interests in mind. Rejecting an early first offer on your home does not mean you’ll get more money the next time. Frequently, the first offer is a strong indicator of fair market value. Rely on your broker’s objectivity and negotiating expertise.

Last, but not least, resist the temptation to purchase your next property contingent on the sale of your present one—it may jeopardize your bargaining position with the buyer of the home you’re selling.

Last updated: July 28, 2009

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