Very simple listing mistakes have cost home owners thousands of dollars which could have been avoided. When thinking about selling a home, you should not fall into these hidden traps.
Listing with a Friend or Relative
Because you know someone who has a real estate license does not make them a good agent. They need to sell residential property full time and specialize in your area. You need to be able to fire them if their not doing a good job. Can you fire your friend or relative? Are you willing to give up thousands of dollars because you can’t fire them?
Negotiating a Low Commission
Why should you pay 6% of your homes value for someone to put it into the MLS. Let’s look at it from both the Listing Agents and Buyers Agents perspective.
A good listing agent is going to spend some of their own money to market your home. Things like Photography, Printed Materials and On-Line Marketing. Pay them less and they will most likely reduce their marketing budget and you’ll probably end up selling your home for less.
The buyers agents have buyers ready to spend X amount of money to buy a home. The agent is planning on receiving 3% commission. When they see 2 1/2 % or less, it’s a pay cut to them and they may not show it. You home will probably be seen by fewer buyers.
Pictures Sell. I can’t stress enough the value of good photography. Your real estate agent needs to take excellent pictures (most can’t) or they should hire a professional real estate photographer. If your home warrants it, they should provide 3D or Drone photography. Poor photography means you will get fewer showings and your home will sell for less.
A major factor in asking more for your home is having a pre-listing inspection. When you know what the issues are with your home, you can either fix them or list at an appropriate price. This makes it much easier to deal with the prospective buyer.
Too Hard to Show
A home with easy showing instructions will get more showing than those with restrictions. Things like requiring 24 hour notice or restricting the days or hours that the home can be shown will reduce the number of showings that you’ll have. Real estate agents have trouble enough in scheduling several showings in a day. If yours is hard to show it will be passed up.