Costly Selling Mistakes You Must Avoid

Some houses on the market sell before they even get a sign up in the front yard while others just sit there without taking 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:

• When you get ready to hire an agent, make sure you talk to several before making your final decision. If one agent thinks your house can sell $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 you probably should have asked for in the first place.
• Make sure your seller's agent is working with a realistic figure. If they have the home overpriced, it won't sell.
• 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.
• Another reason a house doesn't sell is location. Unfortunately, there isn't anything you can do about that. However, what you can do is ensure 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. However, if the location isn't good, lowering the price will be something you have to consider.
• If you are working with an agent that has a bad 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.
• 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.
• 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.
• When people are looking at your home, if you 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.
• If you are working through an agent but have someone just show up at the door wanting to look at your house, this is a tough one. Remember that you are under contract with the agent and therefore, are required to have the agent show the house. Immediately contact the agent to see if they can come over quickly. If not, get the name, contact information of the interested party, and get that information to your agent quickly. Showing your home on your own could void your contract with the agent and, end up costing you their fee.
• 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 to your agent. Explain to them what your concerns are. If they are a good agent, they will listen and make the appropriate adjustment