Homes condos Montgomery Md Rockville Gaithersburg Germantown, Short sale foreclosure expert: REAL ESTATE-SEVEN SELLING MISTAKES YOU DON'T WANT TO MAKE!



Mistake #1 -- Pricing Your Property Too High 

Every seller obviously wants to get the most money for his or her 
product. Ironically, the best way to do this is NOT to list your 
product at an excessively high price! A high listing price will cause 
some prospective buyers to lose interest before even seeing your 
property. Also, it may lead other buyers to expect more than what you 
have to offer. As a result, overpriced properties tend to take an 
unusually long time to sell, and they end up being sold at a lower 


                               SEVEN SELLING MISTAKES YOU DON'T WANT TO MAKE!

Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value 

Unfortunately, a re-finance appraisal may have been stated at an 
untruthfully high price. Often, lenders estimate the value of your 
property to be higher than it actually is in order to encourage 
re-financing. The market value of your home could actually be lower. 
Your best bet is to ask your REALTOR® for the most recent information 
regarding property sales in your community. This will give you an 
up-to-date and factually accurate estimate of your property value. 

Mistake #3 -- Forgetting to "Showcase Your Home" 

In spite of how frequently this mistake is addressed and how simple it 
is to avoid, its prevalence is still widespread. When attempting to 
sell your home to prospective buyers, do not forget to make your home 
look as pleasant as possible. Make necessary repairs. Clean. Make sure 
everything functions and looks presentable. A poorly kept home in need 
of repairs will surely lower the selling price of your property and 
will even turn away some buyers. 




Mistake #4 -- Trying to "Hard Sell" While Showing 

Buying a house is always an emotional and difficult decision. As a 
result, you should try to allow prospective buyers to comfortably 
examine your property. Don't try haggling or forcefully selling. 
Instead, be friendly and hospitable. A good idea would be to point out 
any subtle amenities and be receptive to questions. 

Mistake #5 -- Trying to Sell to "Looky-Loos" 

A prospective buyer who shows interest because of a "for sale" sign he 
saw may not really be interested in your property. Often buyers who do 
not come through a REALTOR® are a good 6-9 months away from buying, and 
they are more interested in seeing what is out there than in actually 
making a purchase. They may still have to sell their house, or may 
not be able to afford a house yet. They may still even be unsure as 
to whether or not they want to relocate. 

Your REALTOR® should be able to distinguish realistic potential buyers 
from mere lookers. REALTOR®s should usually find out a prospective 
buyer's savings, credit rating, and purchasing power in general. If 
your REALTOR® fails to find out this pertinent information, you should 
do some investigating and questioning on your own. This will help you 
avoid wasting valuable time marketing towards the wrong people. If 
you have to do this work yourself, consider finding a new REALTOR®. 

                                      REAL ESTATE-SEVEN SELLING MISTAKES YOU DON'T WANT TO MAKE!


Mistake #6 -- Not Knowing Your Rights & Responsibilities

It is extremely important that you are well-informed of the details 
in your real estate contract. Real estate contracts are legally 
binding documents, and they can often be complex and confusing. 
Not being aware of the terms in your contract could cost you thousands 
for repairs and inspections. Know what you are responsible for before 
signing the contract. Can the property be sold "as is"? How will deed 
restrictions and local zoning laws will affect your transaction? Not 
knowing the answers to these kind of questions could end up costing 
you a considerable amount of money. 

Mistake #7 -- Limiting the Marketing and Advertising of the Property 

Your REALTOR® should employ a wide variety of marketing techniques. 
Your REALTOR® should also be committed to selling your property; he or 
she should be available for every phone call from a prospective buyer. 
Most calls are received, and open houses are scheduled, during 
business hours, so make sure that your REALTOR® is working on selling 
your home during these hours. Chances are that you have a job, too, 
so you may not be able to get in touch with many potential buyers. 

Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

8937 Shady Grove Court
Gaithersburg, MD 20877
Cell: 301-742-1172
Office: 240-403-0399 X306

Can I help a friend or family member with their Real Estate needs?  You can count on me!

Comment balloon 2 commentsRick Reed • July 08 2011 03:03PM


Rick,  Excellent post in regard to the mistakes that sellers do assume and make.  Well done!

Posted by Kathleen Vetrano, Helping YOU Achieve YOUR Dreams (RE/MAX Gateway) over 7 years ago

All great points, but I am particularly drawn to #6. I find so many people willing to just sign on the dotted line. I like to take the process slowly and explain the contract in as much detail as the buyers and sellers can handle. Its each individuals responsibility to know what they are signing, but I feel its my responsibility to reasonably sure that they do.

Posted by Natalie Tarrant (RE/MAX Little Oak Realty) over 7 years ago