Seller Mistakes in a Hot Market
A recent article written by Tara-Nicholle Neslon outlines the "5 Mistakes Sellers Make in a Hot Market".
Overconfidence. Sellers can miss out on offers because they think that their home is worth more than the market suggests. Sellers like their home the way it is and are less likely to get their property in “showing” condition. Things to keep in mind: markets change quickly, markets are intensely local and properties that do sell quickly have been staged and priced properly.
Overpricing. Reality check - overpricing can be the most costly mistake in any market.
Failing to research an offer. Objectively review each offer: Is the offer realistic? Does the buyer have the ability to purchase your property?
Prematurely accepting an offer. Making sure the property has been fully exposed to the market will help insure you have the “best” available offers to review.
Failing to course-correct before it’s too late. Make sure you have an advance plan of action in place. Review showing agent feedback – be able to make adjustments based on comments. Staging – need to de-clutter, rearrange furniture to open space, bring in a professional. Pricing – have lower asking price options based on market feedback.
Both buyers and sellers can navigate through today’s evolving real estate market with the help of a local REALTOR. Being flexible and open to new strategies will facilitate a successful transaction.