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I'M Onyi Silmon

My purpose as a luxury real estate agent is to help you build a legacy which speaks to who are you.

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10 Fatal Mistakes That Will Kill The Sale Of Your Home

Published December 12th, 2018 by Unknown

While it might seem a little dramatic to call seller's mistakes fatal. Especially over something as innocuous as selling your home. Selling a home is serious business! Not approaching it as such is a surefire way for your home to remain on the market.

Selling your home does not have to be an emotional roller coaster. By preparing yourself ahead of time for all the inevitable things you are going to face and following these sound principles you increase the chances of having smooth sailing.

Avoiding these mistakes will save you money and heartache in the end.

Getting Attached To Price

Pricing your home is not based on the opinion of the homeowner or even the agent. It is directly related to perceived value.

If buyers look at your home and compare it to others in the neighborhood and it doesn't meet their requirements for what they believe should be an adequate price then you will receive no offers.

In order to stay in line with a buyers' opinion, you must be willing to base the price of your home on objective and proven research metrics.

An example of which would be the amount homes which have sold within the last six-twelve months. Some other objectives are explained here.

Veering from this will most certainly lead to your home sitting on the market.

Allowing Emotions To Get In the Way

I know not allowing emotions into the process of selling your home is easier said than done. While I would never ask you to behave like a robot for what at times is a very emotional process.

Rather what I am suggesting is emotions should not cloud your judgment. Selling your home should be approached like any other large transaction where emotions will not give you the same leverage during negotiations like facts will

You are selling a product the more you can view your home from this perspective the easier it will be to do the work required to attract buyers.

Always place yourself in the shoes of buyers rather than your own.

Refusing to Negotiate.

No one wants to be a loser when it comes to one of their largest investments. Negotiations need to be an integral strategy when you receive an offer.

By approaching everything from a win-win perspective you can ensure you are not losing too much to your bottom line while still making the buyer feel like that have made a sound decision.

Like any negotiation, the mentality of win at all cost is a good way to have buyers walk away.

Not Taking Stunning Listing Photos

Professional photography is paramount to getting showings for your home. Why? 90% of buyers start their home buying process by looking at homes online. So in order to compel them to take a closer look at your home, you must give them a reason to with beautiful photography.

You are not justing selling your home. You are also selling a lifestyle and dream as well. Exceptional photography captures this by communicating to buyers your home is one they want to see in person. This is accomplished by using adequate lighting and proper angles which appeals to a buyer.

The great thing is, unfortunately, there are so many homes on the market with poor photos by doing this alone you already position your home fair above the rest.

Believing You Do Not Need Staging.

Great staging is essential to the sale of your home. I have seen it more than I can count when a home is beautifully staged, buyers forgoing things which normally would have sent them out the door.

Proper staging can place your home far above the competition.

Now not all staging is good staging. This is why it is important to hire a stager that understands things like buyer psychology. Colors that elicit the emotions you are trying to get out of the buyer. Trends that are currently in homes that buyers love. Having a stager who knows all these things will ensure your home is placed in the best light possible.

Not Being Properly Insured

Perhaps you have a beautiful art collection that you have spent years trying to collect and you do not want to remove it? With the number of people walking through to sell your home. This can expose you to possible theft.

If this should happen, you want to know beforehand you have the proper insurance to protect your valuables.

Furthermore, if anyone should be involved in an accident while being in your home. It is advisable to have proper insurance to protect you in case there are any litigations from it.

Not Investing in a Pre-Inspection

If there is anything that will blow up a deal it is a disagreement over the handling of repairs. How do you avoid this? By paying heed to the old adage, "the best defense is a good offense" and getting a pre-inspection.

Having an inspector come out before you put your house on the market will let you know all the things which might concern a buyer. This will give you leverage.

When it comes to contracts any leverage you can get before you place your home on the market is advantageous.

Also by knowing what is wrong with your home beforehand, you can make the necessary adjustments you need without having a contract in front of you as a negotiating tool.

Not Requiring Proof of Funds

Getting an offer especially when you are on a limited time frame can be exhilarating. Unfortunately, this exhilaration can quickly turn into frustration when you do not require buyers to have a pre-approval or proof of funds in the case of cash buyers.

Requiring this saves you wasted time because a buyer is not financially able to buy your home. Time is money and by accepting an offer you are essentially closing the door on all the other offers which may have come afterward.

When you do that you want to do everything in your power to ensure the deal goes through and you are not having to start from the beginning again.

Refusing To See Your Home As a Product

Now I am going to give you some tough love here. It may not be what you necessarily want to hear but it is the truth. 

Buyers want what they want when they want it.

When it comes time to show your home buyers do not care whether or not you just cleaned your home. Whether you just came back from work and therefore do not want to leave your home. Showing your home while at times can be totally inconvenient it is an integral part of getting your home sold and should be approached as such.

Learn the tricks to have buyers vying to buy your home NOW!

Your home is no longer a dwelling, it is now a commodity which is being judged everytime a buyer walks into it.

Not accommodating prospective buyers will turn them off from making you offers.

Not Considering Selling Your Home In The Fall

Selling your home during the fall and winter months is the time most people in the industry advise you not to sell because of all the things people are doing during the holidays. The numbers say otherwise.

According to November sales from HAR where most people are cautioned not to sell due to the beginning of the holidays. 6,716 homes were sold this year compared to 6,417 homes last year, which is a 4.7 increase! This is with a 7.5 increase from last year when hurricane Harvey should have impacted sales but did not in November. In fact, as of right now sales are up 5.3% from last years volume.

The numbers do not lie. The buyers looking to buy during the fall are going to be the most serious. With most sellers following they should not sell their home during the holidays, this means inventory goes down.

Combining lower inventory with more motivated buyers is a great environment to sell your home.

I would love to hear what you think. Which one of these mistakes do you wish you had known when you sold your home? You never know who you might be light to someone else by commenting down below.

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