Selling Real Estate

How Not to Sell Your Property

The real estate business is noted for being among the easiest to enter but the most difficult to succeed in. Because there are so many inexperienced people in the business, it is important you have some basic ideas about how to select the right Realtor to represent you best. Here are some don'ts.

Don't use a family friend or relative. It is unfair and unwise to drape business dealings over a personal relationship because both will probably suffer. Instead, ask the friend or relative to refer you to a good agent; they'll receive a referral fee and you'll stay friends.

Don't use a discount broker. As in any transaction, you get what you pay for. An agent who asks you to focus on the commission he/she will charge instead of the outcome they will produce for you probably doesn't have a sterling record of success.

Don't list your home with a Realtor who says he/she can get you more money than anyone else. The best way to set your price is with a well-researched market analysis. Realtors who promise to get you more are using the oldest scam in the business and they'll tell you what you want to hear just to get your business, then they'll ask you to reduce your price later.

Don't hire an agent who claims to have a buyer for your property. That's one of the oldest tricks in the book. The odds there's actually a viable buyer in the wings are remote. Any good agent has a pool of buyers to draw from and the resources to attract a variety of prospects.

Don't base your asking price on what you need or what you want. Any property is worth what a ready, willing, and able buyer is willing to pay in today's market.

Don't dismiss the importance of "staging." If you were to buy a car and saw two 2005 Camrys, each with identical options and price...if one were immaculate and one dirty and filled with clutter, which one would you buy?

Don't stay for showings. If you're there it's your property. If not, the buyers can visualize its being theirs. We're also able to counter any objections they may have if they're not inhibited by your presence.

Don't delay having necessary inspections. Waiting for the septic inspection can delay the closing and alarm - maybe even lose - potential buyers.