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Pricing incorrectly
Don't let emotional ties influence pricing rather than market
conditions. The first two to four is when you'll see the most
action. If your home is not competitively priced, you could miss
an opportunity to sell.
Failing to "showcase"
the home
Pet, cigarette odors and cracking paint don't make good first
impressions. The fewer problems buyers see, the easier it is
for them to picture themselves as the new owners.
Using the "hard sell"
during showings
Don't follow lookers around pointing out improvements and great
features. People want to view the house on their own.
Not knowing your rights and obligations
The contract for sale and purchase is a legally binding document.
An improperly written contract can cause the sale to fall through
or cost you thousands in repairs and inspections. Know which
repairs and closing costs are your responsibilities.
Signing a listing contract with
no way out
Although agents may have every intention of selling your home,
unforeseen circumstances may prevent them from completing the
sale. Therefore, you should have the right to terminate your
contract with them at any time. Protect yourself by getting a
guarantee of performance with the right to cancel.
Limiting the marketing and exposure
of the property
The two most obvious marketing tools (open houses and classified
ads) are only moderately effective. Homes aren't generally sold
by using these mediums - less than 1 percent for open houses;
3 percent for ads. Use a broad spectrum marketing plan.
Reprinted with permission, Stewart
Title Guaranty Company.
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