How To Avoid The Worst Home Selling Mistakes - Three Strategies That Really Work

It is a good idea to protect yourself as much as possible when you are selling or buying your home. It is within your ability to protect yourself, especially against making costly home selling mistakes.

You can get this information from your real estate agent or off of the Internet. You will be wise to accept your responsibility to contribute to ensuring the deal is a successful one. Your agent may care enough to go the extra mile, but if you will placing a lot of trust in that person. Here are three approaches to protect yourselffrom some of the worst home selling mistakes.

There is flawed thinking if you are afraid of making an initial price that is lower than the local market or the value of your home. It's natural for sellers to want to price their home toward the high end. But what happens is that a lower priced home will receive more offers than the higher priced home.

People start increasing their bids if multiple offers are actually made. The competing bids will always go up especially if there is a lot of competition or a bidding war on a house. This type of bidding war will not occur if you price your house too high initially.

A lot of times, sellers will choose their agent for the wrong reasons. Some agents will try and get your business by amplifying the price tag to a degree that may actually be unreasonable. This is a ploy to reel in those sellers that don't know any better. But in this situation it is the seller who loses the most. Don't list your home with an exaggerated price that will turn prospective buyers away. There are many factors that influence this situation, of course, and you need an experienced agent. It is essential that you compare several realtors' opinions when it comes to the listing price.

It's never a good idea to try to talk your agent into accepting a lower commission than what is normal in your area. The listing agreement clearly delineates the commission expected when the agent sells your property. Talk to other people and discover what the normal commission percentage is in your market place. See how the average commissions compare to what the agent is specifying in the listing agreement. If you are comfortable with your agent, ask them what the average commission is and how it compares to what they put on the listing agreement. Agents are human, and if you try to shortchange them on their commission, they could shortchange you on their services. Why would your agent show your home to a prospective buyer if the commission is low, when they can show a comparable home with a higher commission structure? Don't forget this when you are negotiating your listing agreement because the responses we mentioned above are very human and normal if you try to shortchange someone.

Determining the price you should ask for your home is very important as well. It is essential that you base your actions on solid ground and without bias. Interpreting data and making an educated guess is not far from the truth.

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