SEVEN SELLER TIPS
From The Z-Team Realtors of Century 21 LeMac Realty
Mountain Home Arkansas
So you WANT TO SELL YOUR HOME? The best way to increase your odds of a successful sale is to price your home at the correct market value from the first day of your listing! Not pricing CORRECTLY can prevent your sale.
# 1. Appraisal Problems
If you find a buyer willing to pay over market value for your property, you need to know that,
almost 80% of buyers today are using some type of financing. Today buyers are taking
advantage of the historically low interest rates. That puts the buyer’s lender is in the driver’s seat.
The lender will order the appraisal. If your home won't appraise to the purchase price,
the lender can refuse the loan. And that means no sale.
Other notes: Don’t pay for an appraisal beforehand. The buyer’s lender will not accept your appraisal.
After 90 days appraisals are considered out of date.
# 2. No Showings.
Today's sophisticated home buyers are well educated about real estate market prices.
The market is flooded with listings and your competition will leave you behind.
The internet is a valuable tool and buyers use it long before they ever meet with an Agent.
If your home is in the wrong price range you will get passed by.
No showings= wrong price.
# 3. First 30 days are critical.
“Well let’s just list my home at this higher price to see if we have any takers, if not we can
always lower the price” This is a fatal mistake!
When a property hits the market, agents check within minutes to see if it's a good fit
for any of their clients. Agents want to make a sale. They won't waste time with an
overpriced home...with so many other homes to choose from. Why get your home
branded as "overpriced" instead of “Wow, this may work for my Wisconsin buyers”.
# 4. You will help sell the Competition.
What? Yes, overpricing your home only HELPS your competition. Over priced homes
make correctly priced homes seem like a bargain! And your competition says Thanks!
The longer your home sits on the market, the more likely it is to become stigmatized
as stale. Everyone has seen a property that seems to be perpetually for sale, so you
start to think “Gosh something must be wrong with that house”.
# 6. Tougher Negotiations
Buyers who do write an offer on your home may negotiate harder and bring really low offers.
They think that because the home has been on the market for such a long time,
you must be desperate!
# 7. Lost Opportunities
You will lose a percentage of buyers, because they can’t find you. Being outside the
correct price range makes you invisible to a potential buyer.