Top 8 COSTLY Mistakes

Sellers Make That YOU should Avoid!

Selling a home is a complicated process that most people only go through a few times in their lives. Here are 8 costly mistakes that home sellers often make, and how you can avoid them.

 

1. Not being objective about your property.

It was a great home, but now it’s an asset you need to maximize. Now it’s your property. This means you need to look at your property objectively, and develop the best strategy to get the best return on your investment.
Click here to read about our listing strategy.

2. Skimping on your property preparation.

Preparing your property for market will directly affect how long it takes you to sell, and the sales price you ultimately realize. While you don’t want to go overboard with unnecessary improvements, there are many repairs & improvements you can make that will realize a positive return on investment (ROI.) Landscaping, touch up paint, & deep cleaning almost always return well, as does property staging. Sometimes, upgrades like new flooring or countertops make sense. A professional stager/decorator can help you make these decisions.
Click here to read about our complimentary staging & professional photography services.

3. Pricing your home incorrectly.

Sellers most commonly price their homes too high, but pricing low can also cost you money. If you price too high, your property will wither on the market and buyers will wonder “What’s wrong with that property?” when they see a long-listed property for sale. Conversely, even if a low price results in a bidding war, there’s a chance you left money on the table. When pricing your property, it’s important to first understand the inventory in your specific market, which tells you how much leverage you have, and to price accordingly.
Click here to read about our intelligent pricing strategy.

4. Misunderstanding the buyer’s offer.

While purchase price is one of the most important points to any contract, it’s important to know which fees are typically assigned to which party. If a buyer offers you asking price, but assigns $5000 in buyer fees to the seller, you need to view this offer as $5000 below asking. Likewise, it’s imperative that you understand typical deadlines like the buyer’s option & financing periods.
Click here to read about our no pressure approach that ensures you understand any offer that's presented.

5. Not investigating your buyer.

Cash purchasers need to prove their funds through a bank statement, letter from their CPA, or letter from their asset manager. Most buyers will finance the property, and need to provide a pre-approval letter that describes the terms of the loan. It’s always good to call the party who issued the letter, and it’s important to understand the common loan terms in your current environment.

6. Not allowing potential buyers to view the property.

This may sound simple, but many sellers grow fatigued after a few weeks on the market and stop accommodating potential buyers. If you don’t get a fast sale, it’s important to maintain a positive outlook, and to let as many buyers through the property as possible (within reason.)
Click here to read about our buyer follow up so that you know who viewed your property & what they thought of it.

7. Lack of disclosures.

Potential buyers will want to see your seller’s disclosure & survey as soon as they’re express interest in the home. If you’ve made significant upgrades or repairs, they will want to see documentation. If you don’t make these easily accessible, a hot buyer will cool.

8. Choosing the wrong Realtor.

The right Realtor will help you avoid these mistakes, and a slew of others. While your college roommate, brother-in-law, and neighbor might all be agents, that doesn’t make them the right Realtor to help you sell your property. Interview agents and ask hard questions until you’re sure you made the right decision.
Click here to read about our unique qualifications.

READ NEXT: Are Open Houses a Waste of Time?
“Working with Eric is very different. He thinks like a product manager and how his service can benefit his clients' specific need. Home buying and selling can get emotional and there is no one template for all. I believe that Eric gets it. I have referred several friends to Eric and they all have come out happier. And, these people are different with different needs.”
Saran V.
“I contacted Eric when my first realtors (another agency) failed to produce results. I asked his opinion and he gave me the true feedback I needed to make a decision. He was very professional and no pressure. A few months later, when it was time to list our house and get it ready for market, he gave us the constructive feedback I wanted so we could make the business decisions to sell our home...The entire team had excellent customer service experience. I highly recommend Eric for buying or selling your home in the Austin area.”
Kimberly H. M.
“I cannot say enough good things about Eric, Alex (in the office) and the web tools his real estate firm offers. I went on the market and within one day I had 2 offers, all for at and above list! Through the contract period Eric went above and beyond to provide updates and guide me along in the contract negotiation process. This was my 3rd Real Estate transaction on the seller side and I still can't believe how easy it was!”
Ken P.
“Best experience ever selling our home with Eric!!! After 3 months with another realtor during peak season with little traffic, mediocre pictures, and much frustration. We contacted Eric, after reading his high recommendations online. We liked him immediately as he is sincere, a good listener, and answered our questions honestly, with abundant knowledge...I could go on and on about Eric! He is the best realtor we have ever worked with!!!”
Lori C.
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Eric Bramlett has won the Austin Business Journal's Top Realtor® Award for 5 Years, from 2014-2018.
Our clients sell their home 30% faster and for 15% more than average agents.
 
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