A lot of home sellers these days are really determined sell the property they have at hand, profit from it and call it a day. However, there have been many sellers, who, instead of closing the deal, end up losing the deal.
Why was it?
A certain survey conducted by ActiveRain.com involving 1,000 agents showed the following biggest mistakes that sellers commit during transactions and negotiations. Below is a great infographics showing the results of the survey.
Data provided by ActiveRain.com.
ActiveRain is an online community of real estate professionals who exchange best practices, write real estate blogs, and get free education from the industry and their peers.
As far as these mistakes are concerned, the most outstanding and important of the results were the overpricing of homes. Many sellers are not just trying to close a deal – they are trying to profit more than what they should only be getting from homes that they sell. Especially as the year 2014 showcases home price increases at incredible rates from different local markets statewide, many agents might take advantage of this.
With a stunning 77% result from the survey already shows how important home prices are for current market conditions.
Example of a market where home price rates are incredibly rising is in Washington. A recent survey showed which local markets have greatly increased their home prices since 2010 – 2014; a four-year forecast that led to such results, and which would drive home sellers and agents more determined to close deals and get more leads.
On the other hand, it seems like the “unpleasant odor” and the “unwillingness to make repairs” shouldn’t make it to the ‘biggest mistake’ category. Yes, they may be mistakes but it’s not actually much of a huge factor at all.
Other factors that could have been playing a major role and should be included in the biggest mistakes of home sellers are (but not limited to):
- Full disclosure about the property.
- Wrong information disclosed in the listings.
- Pestering the prospects
- Accepting buyers who are not pre-approved
… And a lot more.
Home selling is not easy feat – and committing mistakes doesn’t always fall into failure. As long as home sellers know how to learn from their mistakes, it actually becomes an advantage for them as they are able to determine how buyers behave and how to actually market them your properties without losing the deal. If you currently have a prospect client selling a home, this might be a good idea for you to teach them this top home seller mistakes right away. Good luck!