Hi, thank you for tuning in to Red Lion Realty’s YouTube channel. The topic for this week is going to be the five mistakes that sellers make. We see this quite often in real estate, we’re just trying to help you avoid it. Number one, home is not ready to sell. It hasn’t been updated, the paint is dated, carpets worn, flooring. There’s a lot of different variables to the home not being ready. Landscaping, that is the outside picture that is going to be the first thing that they see of you’re home. If there’s shrubs are overgrown, you’ve got weeds in the flowerbed, you’re going to need mulch. Curb appeal is imperative today, because that’s the first picture to get them to click on your house, and upon that, the next are the pictures inside the house. A lot of times people will update stuff but they’ll do it cheaply, thinking that they’re saving money and gonna make more money. If you update your countertops, from Formica to Corian but the rest of the market has granite, that’s actually a deduct because the buyer is going to have to remove the Corian and install Granite, in order to keep up with the Jones’s, so to speak. Same thing with flooring, if everybody has wood flooring and you put in laminate flooring, again, that’s going to be a deduct. So you really need to get with a professional, have them walk through the property, give you professional advice in tune with the neighborhood, so that you can be up to date correctly with your property, and the rest of your competition. Otherwise you’re just helping them sell because your competition is going to be pointing right at your property saying, Hey, have you seen this property, it’s got this this and this, mines got this this and this, way better than theirs, for X amount more or the same price. Number two, pricing the home correctly. Always do a comparative market analysis. We call those CMA’s in the industry. It’s a requirement at our brokerage. I don’t care what people list their house for sale price wise, what I want to know is what they’re selling for price per square foot with a house very similar to yours, when we look at the track record for the last six months. It’s imperative that we know that information. If it’s selling for a buck ten per square foot, on average, and you want to list at 120 square foot. Well, again, you’re helping the competition. So, we need to look like we have the best deal in the neighborhood. If everybody’s at 110, we should be at 109. That drives traffic, all the good stuff goes in two weeks. The third mistake they make, limited showings. They don’t feel like leaving the house. They want to stay there when people show up. You can’t do that, the buyers they want to think clearly. They want to be able to talk about your property without feeling like somebody’s watching them. So you want to embrace, every showing possible. You don’t want to be there and if you have video cameras, please do not record them, that can get you into some violations and troubles so I would recommend talking to an attorney. However, just don’t do it. Number four, pictures. We see bad pictures all the time, everybody sees it on social media that the real estate funny pictures, but it’s amazing how often this still happens today. Dishes in the sink, clutter, cars in the driveway, oil stains in the driveway. A lot of this is completely avoidable. So, you want to have professional pictures taken, and it needs to be ready to be photographed. Number five, hiring the wrong agent. You need somebody that’s in tune with your local market, somebody that knows it, knows how to market your market. Not somebody that shows up in your house, and say your house is worth $300,000, they go but I’ll get to $350,000 for Mr. Seller and I’m going to do it at a reduced rate. Well, they’re buying your business. A, They’re telling you the house is worth way more than what it is. It’s not substantiated, nobody’s going to pay that. You hear that and think, oh god, my house is worth 50 grand more than my neighbor’s house that’s just like mine, his only sold for 300,000. It’s not and buyers are savvy today. And then the cheapest guy in town unfortunately is generally the worst guy in town. So, you want a true professional, you know, look at the NFL. You know, look at baseball. They pay big money for the best players in the industry. And it’s the same in real estate, if you want the best player representing you, there’s going to be a cost, however, 99.9% of the time you’re going to come out ahead because A, they made this transaction seamless B, they got you more money than you thought they sold it faster. There’s just a lot of moving parts to these transactions. So I highly recommend getting with a professional, somebody that does this for a living, not somebody that’s part time they sell one or two houses a year, somebody that’s truly practicing real estate in the field, every single day, because that’s the person that knows the industry. They know the market. They know how to sell your home. They’re going to reach out to their contacts. That is what they do. But if you would please choose Red Lion Realty, we’d love to get together with you. We’re a local family run business here in Katy, Texas. We have about a half a dozen agents and we generally have a half a dozen to a dozen homes on the market at any time average sale time 30 days or less. If you’re a buyer. We’re going to find you the right house at the right price and in the right timeframe. If your seller. We’re going to sell faster, and we’re going to sell for more money than the average company out there, we’d love to get together with you, feel free to reach out to us at Red Lion Realty. Thanks.
5 Huge Mistakes Home Sellers Make!
About the Author: Richard Luebeck
Meeting your real estate needs. Let me help you find everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers. Call, Text or email me today! Phone: (832)646-2886 Email: [email protected]