Austin Real Estate

Austin Real Estate Sell Your Home Reports Costly Selling Mistakes to Avoid

Costly Selling Mistakes to Avoid

Some homes sell before they even hit the Multiple Listing Service (MLS), while others just sit there for months without any action.

You've had your house on the market and right now, the market is hot. Why isn't your home selling? There could be several reasons that a house doesn't sell quickly. Here are some considerations:

• Pick the right agent. When you get ready to hire an agent, make sure you talk to several before making your final decision. If one agent thinks your home can sell for $20,000 more than the others, stay clear. More than likely, that agent just wants your business, will wait a few months for the house not to sell, then convince you to lower the asking price to what it probably should have been in the first place.
• Be realistic. Make sure your agent is working with a realistic figure. If the home is overpriced, it won't sell.
• Upgrade if necessary. Be open to the fact that you may need to do some upgrading to get the house to move. Perhaps the interior needs a fresh coat of paint or some of the carpet needs to be replaced. Although it may cost you a little bit of money, it will also get people interested in buying.
• Location. Another reason a house doesn't sell is location. Unfortunately, there isn't anything you can do about that. However, you CAN ensure that your home is in good condition—neat, clean, and presentable—and work with the price. If you're working with a good Realtor, hopefully you won't have to come down on price too much, because they will factor the home’s location into its market value. However, if the location isn't good, lowering the price will be something you have to consider.
• Your agent’s reputation. If you are working with an agent who has a poor reputation, you could have trouble selling your home. Just as with any industry, agents communicate and network. Therefore, if there is one agent causing problems, others will stay as far away as possible. That means if your home is listed with the "bad" agent, other agents are less likely to show your home to their buyers. This is why it's so important to do your homework at the beginning and find a good, reputable agent.
• Effective marketing. Make sure your agent is doing more than just putting a sign in your yard. Part of the agent's responsibility is to market your home. This means good advertising, open houses, MLS listings, flyers, whatever it takes to get the word about your home out to the public.
• Price correctly. Have an appraisal done on your home and have the agent do a competitive analysis of other homes similar to yours in your geographical location. Make sure you are working with Fair Market Value for your home and not an over-inflated value.
• Don’t be in the way. When people are looking at your home, plan to leave for a while. Buyers and their agents want freedom to explore your home and envision themselves living in it. If you do happen to be there, don't try to help sell the house. Be polite, stay out of their way, and expect that they will look in every closet and under every sink. If asked a question, answer honestly.
• Understand your rights and responsibilities. It is also very important to know and understand your rights and responsibilities. Understanding your contract and knowing the terms could save you a lot of money in inspections, repair, or maintenance.

If at any time you are not happy with the way things are progressing, sit down and talk with your agent to explain your concerns. A good agent will listen and make the appropriate adjustments.