Mistake #1 – Incorrect Pricing
Every seller in Mississippi naturally wants to get the most money for their property. The most common mistake that causes sellers to get less than they hope for, however, is listing too high. Listings reach the greatest proportion of potential buyers shortly after they reach the market. If a property is dismissed as being overpriced early on, it can result in later price reductions. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have had they been priced properly in the first place.
Mistake #2 -- Mistaking Re-finance Appraisals for Market Value
Re-finance appraisals can be very encouraging for homeowners, leading them to assume that the appraisal is the amount that they should expect to receive for their property. Lenders often estimate the value of your property higher than it actually is, however, in order to encourage re-financing. The market value of your home could actually be (and often is) lower. Your best bet is to throughly and objectively review a detailed Comparative Market Analysis. This will give you an up-to-date and factually accurate estimate of your property value.
Mistake #3 -- Failing to "Showcase" your Mississippi Property
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable, and remove as many possessions as you can prior to showing. A poorly kept home, or one with too much clutter, will make it dramatically more difficult for buyers to become emotionally interested in your property.
Mistake #4 - Trying to "Hard Sell" While Showing
Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. Pointing out any unnoticed amenities and being receptive to questions is advisable, but this is not the time for negotiation and salesmanship.
Mistake #5 - Trying to Sell to Lookers
A prospective buyer who shows interest because of a For Sale sign or an open house ad may not really be interested in your property. Often, buyers who are not accompanied by a Real Estate Agent are 6-9 months away from buying, and are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.
Mistake #6 -- Not Knowing and Understanding Your Rights & Responsibilities
It is extremely important that you are well-informed of the details of your real estate contract. Mississippi Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing any contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kinds of questions could end up costing you a considerable amount of money. Remember, you can always hire us to help you through the negotiations. Check out our Contract Negotiation Assistance program.
Mistake #7 - Limited Marketing
Your home NEEDS to be listed in the local MLS! Be Creative! Use your Facebook page to let friends, neighbors, coworkers and realitives know your home is for sale! Even if they are not in the market, they may know someone who is. As you will see, we keep it professinal and pull out over 500 marketing stops!
Creatitivty is: THE MAKING OF THE NEW-- AND THE REARRANGING OF THE OLD, IN A NEW WAY.