4 Common Seller Mistakes to Avoid in a Rising Market

4 Common Seller Mistakes to AvoidBoulder County housing prices are rising. Buyers are getting off their collective fences thanks to the recent nudge in interest rates. And now you are thinking maybe its time to list your home – finally! Congratulations.

Now is an excellent time to list your home – just be sure to do it the right way.

Four common mistakes to avoid:

Priced Too High

I know you don’t want to “leave anything on the table” and a recent poll reinforces this point. A whopping 75% of homeowners thought their agent’s suggested listing price was too low! There has been a lot of momentum building out there and the media has fanned the flames pretty hot. But please think again about testing the water with a higher price than your agent suggests. It could ultimately slow down your deal and cost you money in the long run.

An experienced agent will know how to guide you in pricing your home for current conditions. Carefully selected comps and recent solds along with market indicators will craft a competitively and successfully priced home that will generate solid interest. Then if the market should take it higher in the form of multiple offers, all the better! But overpricing a home to begin with, to test the water, is a surefire way of setting yourself up for disappointment as buyers will turn away and you’ll end up selling for less than market value. It happens too many times.

Want to know my favorite strategy for pricing a home in a rising market? I call it Leading the Parade and you can read about it in this post.

Dressing Up for the Open House

Let me clarify, dressing up your home for the open house is very important. But the timing should be such that you do the cleaning and beautifying long before the open house date. Instead, do all the polishing, de-cluttering and staging right before the photographs are taken for your on-line listing. Online is where 90% of home buyers start their search and you want your pictures to reach right out of that computer screen and make that buyer grab the phone to call their agent.

Because the flip side of that moment is disappointment. If the pictures don’t appeal – then click!, its on to the next listing and your big chance is lost.

Scaring Away Early Offers

Buyers are anxious for the perfect home to arrive on the market. Couple that anxiety with feeling weary from missing out on previous homes and they are likely to pounce if your home is right for them (read location, amenities and price). Don’t get spooked by early offers, hold out for better offers or second guess yourself thinking you should have asked for more. As long as the early offer comes in near the asking price, your house was priced properly. Be sure to seriously entertain the offer – even if you are taken by surprise. More often than not, the first offer turns out to be the best one.

Choosing the Wrong Agent

People have lots of different ways of choosing a Realtor – that professional to help you sell the most expensive thing your probably own. Some folks will hire a friend, a relative who does real estate part time or the discount agent who is willing to take the cheapest commission (please ask him/her how they plan to underwrite all the marketing needed to successfully sell your home on that discounted commission).

Now’s not the time to cut corners. It’s really important to go with someone who really cares about your transaction, knows how to attract qualified buyers, is a skilled negotiator and understands the complexities of the contracts and paperwork involved in your transaction.

Need a reference? Check out what some of our clients had to say about working with us.

 

 

I am a Boulder County real estate specialist. Over the past three years, I have earned the distinction of being named a 5280 Five Star Realtor. This puts me in the top 7% of all Realtors in the Denver Metro Area for customer satisfaction. If you would like to schedule a buyer or seller meeting with me, please feel free to call me at 303-579-1617 or contact me by email.

TO RECEIVE FUTURE POSTS IN YOUR INBOX JUST CLICK HERE.

JeffGazaway.com is the most comprehensive online source for Boulder County real estate information. Whether you are looking for the latest sales, trends or homes for sale in the Boulder area, JeffGazaway.com has it all at your fingertips. Browse information regarding Featured Listings, Market Trends, Buyer Tips, Seller Strategies and Fun Things To Do in the Boulder Valley.

Leave a Reply