Half the battle of selling a home is anticipating problems before they come up. Selling a home is a major life milestone, and it can be complex when you consider all of the steps involved: preparing and listing; making repairs; finding a buyer; navigating the closing process; and finally moving into your next place. The consequences of a mistake can impact your finances and most importantly, your peace-of-mind.

These are the TOP 10 Sellers Mistakes:

FOR SALE BY OWNER! The biggest mistake a homeowner can make is trying to sell the home on their own. According to the National Association of Realtors, FSBO’s (For Sale By Owner’s) sold their homes for 16% less than if they were agent assisted. If you are sick, you go to the doctor. If you are accused of a crime, you get an attorney. So needlessly to say, if you need to buy or sell a home you should call a Real Estate Professional with the Realtor designation. If you feel that the Realtors you have met are not up to your standard, then this leads us to number 2.

Choosing the WRONG REALTOR! Instead of picking a friend of a friend or a relative or someone who is great working with buyer, pick someone who is great at listing and selling homes. Someone with a real track record for selling homes. Someone who can sit with you and give you a plan on how they intend to sell your home.

OVERPRICING your home! If you followed #1 then you hired the right Realtor. That Realtor should bring you a strong market analysis to help guide you in your pricing strategy. It’s always best to price it right the first time rather than “test the market” with a higher price. You do not set the price – We do not set the price – The market sets the price.

ONLY considering the highest offer! The highest offer, while exciting, isn’t always the best offer given your needs. It’s common in many traditional sales to have contingencies. These are conditions that must be satisfied for the sale to close. You may have contingencies that protect the buyer’s interests like a financing contingency or an inspection contingency. It’s important to be aware of these types of contingencies because they can impact the timeline of the sale, the certainty of the sale, and the complexity. For example, you may receive a really high offer that is contingent on the buyer selling their existing house.

You’d have to consider how the added timing and uncertainty compares to a slightly lower offer without that contingency. In another scenario, you may have a buyer who is willing to be more flexible on repairs versus another who is offering a higher price but asking for repair credits.

NOT preparing your home for sale! One of the challenges of listing your home on the market is showing your home to prospective buyers. Generally speaking, the cleaner, less cluttered, and more well-decorated your home is, the more appeal it can have. Clutter can make your home appear smaller and make it more difficult for buyers to picture themselves living in your home. In fact, staged homes sell 88% faster and for 20% more than those that aren’t staged, according to Realtor.com.

Don’t forget about curb appeal. As Moving.com puts it, “Your home’s exterior is like the cover of a book, setting the stage for what’s inside.” If a home is disorganized or appears in disrepair, buyers may be more skeptical about its condition when they’re considering an offer.

NOT understanding the cost of selling a home! The total cost to sell a home can amount to much more than the 6% in agent commissions most people expect to pay. When you account for closing costs, repairs, and other concessions to the buyer, the costs of selling can be closer to 10% of the sale price sometimes. It all depends.

For example, if you move into your new home before selling your old one, you may have to rent a temporary place or pay for both mortgages as well as other carrying costs, such as utilities, HOA dues, taxes, and storage. Always ask agents for a net sheet at your listing appointment to see all the expected expenses. 

WAIKOOL TIP: Kids and pets bring enormous emotional attachment to the home. Take them out for a ride so the buyers can envision themselves in the home with their family. Its important to keep the home as neutral as possible.

#vacation #home #palmsprings #waikool #WaiKoolHomes #CoachellaValley #Hollywood #LosAngeles #SanDiego #InlandEmpire #OpenHouse #SellHome

When it comes to selling your house, the right price matters. Competitive pricing generates the most activity from buyers and agents, while a price that's too high can contribute to a longer stay on the market and, ultimately, a drop in price to compete with newer, well-priced listings.

The simple fact is that buyers and sellers determine market value. In other words, the value of your property is determined by what a buyer is willing to pay and a seller is willing to accept in today's market.

This is because buyers base their pricing decisions on comparisons to the prices other properties have sold for in your area. Through our competitive market analysis, we'll help you find the pricing sweet spot for your home.

A house that's priced at market value attracts the maximum amount of the market's potential buyers. Raise that asking price by just a bit above market value, and the percentage of potential buyers will decrease substantially.

When you're ready to sell, you need trusted local experts in your corner. With offices in Palm Springs, Rancho Mirage and Redlands we can help to sell or buy your home anywhere in the Coachella Valley or the Inland Empire. Call us today to arrange a WaiKool personalized consultation.

The right agent can help you buy your dream house or sell your existing home quickly. The wrong agent can botch the transaction, leaving you with egg on your face and nowhere to call home. Despite the high stakes, many buyers and sellers give little thought to choosing an agent, whether they’re buying or selling.

Get recommendations from friends and relatives, and see which agents are buying and selling the most homes in your neighborhood. Read online reviews, but realize they don’t tell the whole story, since most clients, satisfied or dissatisfied, don’t write reviews.

Interview, Interview & Interview!

 Don't be afraid of asking questions. If you’re a seller, ask how the agent will market your home, who the target buyer is and how he will get your home in front of those preferred buyers.

The agent suggests the highest price for your house. If you’re selling your house, get listing presentations from at least three agents, who will tell you what comparable homes have sold for and how long they take to sell. The agents are all looking at the same data, so the suggested listing price should be close. Pricing a home too high at the start often means it takes longer to sell and ultimately sells for less. “If you’re too high for the market, buyers will not even look at it because they know you’re not realistic,” “The longer your property sits on the market, the more people are going to think there’s something wrong with it.”

The agent does real estate on the side, part time. Whether you’re a buyer or seller, you want to choose an agent who is actively following the market every day. If you’re buying, you want an agent who can jump on new listings and show them to you immediately. If you’re the seller, you want an agent who is always available to show your home to prospective buyers.

The agent charges a lower commission. In most areas, commissions are traditionally 5 to 7 percent, split between the buying and selling agent. If the commission on your house is lower, fewer agents will show it. This doesn’t mean you can’t negotiate a slightly lower commission if one agent ends up both listing and selling the house.

The agent doesn’t usually deal with your type of property. If you’re buying or selling a condominium, don’t pick an agent who rarely sells condos. If you’re looking for investment property, find an agent who traditionally works with investors. Many agents have multiple specialties, but you want to make sure the agent is well-versed in the type of transaction you’re doing.

#vacation #home #palmsprings #waikool #WaiKoolHomes #CoachellaValley #Hollywood #LosAngeles #SanDiego #InlandEmpire #OpenHouse #SellHome