The Worst DFW Real Estate Selling Mistakes You Can Make
There are a hand full of serious DFW home selling mistakes that I see time and time again.
We Want to List it High, They Can Always Offer Less
When many DFW home sellers interview Realtors it is easy for them to get caught up in the excitement of choosing a listing price. The higher their sell their for the more money they make the more financial opportunities they will have. With all this maybe the seller can afford to buy a more expensive home, pay for a child’s college education or take that much overdue vacation. Unfortunately, many uninformed sellers often choose the listing agent who suggests the highest list price, which is the absolute worst mistake a seller can make. If they do this they will ultimately pay for it in money, time and frustration.
Establishing a Homes Value
The cold hard truth is that it doesn't matter how much you think your home is worth. For that matter, it doesn’t matter what your Realtor “thinks” it worth (assuming your home is in Plano). The person whose opinion matters is the buyer who makes an offer. Determining the value of a DFW home is part art and part science. It involves comparing similar properties in the , making adjustments for the differences between them, tracking market changes and accounting for the stock of present inventory. This will help to determine a range of value. This is the same method an appraiser evaluates a home. And no two appraisals ever exactly the same. In most cases however, they are generally close to each other. There is no hard and fast price tag to put on your home. It's only an educated guess; the market will dictate the price.
Is There a Price That is to Low?
All homes sell at the price a buyer is willing to pay and a seller is willing to accept. If a home is priced too low, priced under the competition, the seller should receive multiple offers to drive up the price to fair market value. Because of this there is little danger in pricing a home too low. The danger lies in pricing it too high and selecting your Realtor solely on opinion of value.
How Things Start To Go Wrong
The seller of a DFW Home didn't even interview her Realtors. She picked the first one off the Internet because, "She looked smart." She priced her home at $275,000. This Realtor never heard the local Realtors laughing behind his back because he worked in a different area of the city. After 90 days, the listing expired.
Continues To Go Wrong
The next Realtor, also from another part of the city, listed the home at $265,000. A few more months passed. Eventually the price dropped to just under $250,000. Still no sale. Remember this Realtor was chosen by the seller on a whim.
More Than a Year Later
By the time the last Realtor was hired to list the home, the seller had grown frustrated and exhausted. Together, the seller and her agent priced the home at $225,000. It immediately sold. The sad part is the comparable sales in the neighborhood fully justified a price of $250,000, but the home had been on the market for too long at the wrong price, and now her listing was stale.
Agents Specialize in Expired Listings
I know a Realtors whose real estate business is totally based on contacting sellers of expired listings and relisting them at the correct. Don’t end up in a position where these specialist are contacting you. Worse yet, take action quickly so that you do not become one of those many .
How much money does an expired listings cost a seller? The financial loss often exceeds the extra mortgage payments paid and goes beyond the uncompensated hassle factor of trying to keep a home spotless during showings. It affects the value that a buyer ultimately chooses to pay because it's a stale, dated, a market-worn home that was overpriced for too long. Don't let this happen to you. Higher the right Realtor and list at the right price from the beginning and your house will sell.
We Want to List it High, They Can Always Offer Less
When many DFW home sellers interview Realtors it is easy for them to get caught up in the excitement of choosing a listing price. The higher their sell their for the more money they make the more financial opportunities they will have. With all this maybe the seller can afford to buy a more expensive home, pay for a child’s college education or take that much overdue vacation. Unfortunately, many uninformed sellers often choose the listing agent who suggests the highest list price, which is the absolute worst mistake a seller can make. If they do this they will ultimately pay for it in money, time and frustration.
Establishing a Homes Value
The cold hard truth is that it doesn't matter how much you think your home is worth. For that matter, it doesn’t matter what your Realtor “thinks” it worth (assuming your home is in Plano). The person whose opinion matters is the buyer who makes an offer. Determining the value of a DFW home is part art and part science. It involves comparing similar properties in the , making adjustments for the differences between them, tracking market changes and accounting for the stock of present inventory. This will help to determine a range of value. This is the same method an appraiser evaluates a home. And no two appraisals ever exactly the same. In most cases however, they are generally close to each other. There is no hard and fast price tag to put on your home. It's only an educated guess; the market will dictate the price.
Is There a Price That is to Low?
All homes sell at the price a buyer is willing to pay and a seller is willing to accept. If a home is priced too low, priced under the competition, the seller should receive multiple offers to drive up the price to fair market value. Because of this there is little danger in pricing a home too low. The danger lies in pricing it too high and selecting your Realtor solely on opinion of value.
How Things Start To Go Wrong
The seller of a DFW Home didn't even interview her Realtors. She picked the first one off the Internet because, "She looked smart." She priced her home at $275,000. This Realtor never heard the local Realtors laughing behind his back because he worked in a different area of the city. After 90 days, the listing expired.
Continues To Go Wrong
The next Realtor, also from another part of the city, listed the home at $265,000. A few more months passed. Eventually the price dropped to just under $250,000. Still no sale. Remember this Realtor was chosen by the seller on a whim.
More Than a Year Later
By the time the last Realtor was hired to list the home, the seller had grown frustrated and exhausted. Together, the seller and her agent priced the home at $225,000. It immediately sold. The sad part is the comparable sales in the neighborhood fully justified a price of $250,000, but the home had been on the market for too long at the wrong price, and now her listing was stale.
Agents Specialize in Expired Listings
I know a Realtors whose real estate business is totally based on contacting sellers of expired listings and relisting them at the correct. Don’t end up in a position where these specialist are contacting you. Worse yet, take action quickly so that you do not become one of those many .
How much money does an expired listings cost a seller? The financial loss often exceeds the extra mortgage payments paid and goes beyond the uncompensated hassle factor of trying to keep a home spotless during showings. It affects the value that a buyer ultimately chooses to pay because it's a stale, dated, a market-worn home that was overpriced for too long. Don't let this happen to you. Higher the right Realtor and list at the right price from the beginning and your house will sell.
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