Considering selling your house with the help of an agent? Take a moment to peruse this blog post, uncovering mistakes you should avoid when listing with an agent…
Whether you’re a homeowner aiming to sell your property or an agent specializing in property sales, it’s essential to be aware of four pitfalls to steer clear of when listing with an agent…
First, Don’t Assume That You Can Sell Right Away
The market is dynamic and can undergo changes from one day to another, influenced by various factors. Therefore, ensure that you establish practical timelines regarding the anticipated duration for selling your property.
For sellers, anticipate that the sales process will likely span several months, encompassing tasks such as property repairs, buyer showings, negotiation, setting a closing date, and eventually moving out. If you’re an agent, exercise caution in avoiding the commitment of overly optimistic timelines to your sellers; instead, manage their expectations effectively.
Second, Don’t Assume That The Asking Price Will Be The Selling Price
The listing price serves as the initial point in the sales process, setting the benchmark for what the seller desires to receive for the property.
As a seller, recognize that the final selling price may differ from the initial asking price. If you’re an agent, ensure to communicate this aspect clearly to your sellers.
Third, Don’t Assume All The Money Goes Right Into Your Pocket
Certain individuals mistakenly assume that the selling price (minus any outstanding mortgage balance) equates to pure profit. However, this notion is inaccurate.
For sellers, it’s crucial to be aware that agent commissions, closing costs, and additional fees will be part of the transaction. If you’re a real estate agent, ensure that you articulate and clarify these details to your clients.
Fourth, Don’t Assume That The First Offer Will Go Through
Buyers often make offers and then discover that they can’t get financing for some reason.
As a seller, anticipate the possibility of one or two prospective buyers withdrawing before a suitable buyer is secured. If you’re a real estate agent, proactively inform your sellers about this scenario so they can be adequately prepared in the event it occurs.
Whether you’re a homeowner seeking to sell or a real estate agent representing sellers, it’s important to be cognizant of these four common mistakes that can occur during the sales process. Stay informed to avoid them.
Are you thinking about selling? Are you an agent who is representing sellers?
We are real estate professionals who would love to connect with you and see how we can work together for a win/win scenario. Call our office at 254-493-2101 or click here now and get in touch by filling out the form.
Frequently Asked Question
Maybe you have a few questions. That’s okay; most people do. So here’s a quick question people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: How are you different from a real estate agent?
A: Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 3-6 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we pay with all cash… we can make a decision to buy your house within a couple of days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).