18 worts mistakes made by homesellers

[thohome]

The 18 worst mistakes made by Homesellers, and the good news... the SOLUTIONS!.


Mistake
1.Not Trusting the Agent
2.The Quote Trap
3.Failing to Check Out the Agent
4.Signing up For Too Long
5.The Advance Fee Scam
6.Becoming a Victim of Conditioning
7.Advertising & LOWER Prices
8.An Agent Who Treats Buyers Badly
9.Poor Negotiator
10.Auction
11.Bait Pricing
12.Setting your Price
13.Open Inspections
14.Rejecting the Early Buyers
15.Paying Too Much Commission
16.Presentation
17.Failing to Complain
18 Signing a Standard Agency Agreement

read on starting with mistake #1
http://www.deanesrealestate.com.au/sellers-18.htm

I actually had quite a few of these happen to me.. # 2, 3, & 9 It cost me quite a bit of money in the end. Make sure you have a great agent that is the key to everything.. Don't be afraid to get refeals from family and friend or ask the agent themselves for referals.

[JaredfromIndiana]

1.Not Trusting the Agent <~~Never trusted an agent until my wife became one. I still and will never trust any of the agents that represent buyers for our houses.
2.The Quote Trap
3.Failing to Check Out the Agent <~~I check out my agent all the time. (She's hot)
4.Signing up For Too Long <~~I assume this is the length of the contract with the realtor? I say that if an agent isn't willing to sign a 3 month contract to sell your house you should move on and find one that will.
5.The Advance Fee Scam <~~BOOOOOO!!!
6.Becoming a Victim of Conditioning
7.Advertising & LOWER Prices
8.An Agent Who Treats Buyers Badly <~~I have used agents that didn't treat the buyers badly but wouldn't return calls quickly enough. I guess that is treating the buyers badly isn't it?
9.Poor Negotiator <~~ I never let my agents negotiate for me.
10.Auction
11.Bait Pricing <~~ AKA Cheating?? LOL
12.Setting your Price <~~ I look at all of these from an investors point of view. You better know what your price is going to be before you even purchase the home, especially these days. You have to have the best product on the market at the best price if you want to sell quickly. I wish I would have taken my own advice more... LOL
13.Open Inspections
14.Rejecting the Early Buyers <~~If the offer is good I'd sell it day 1 on the market.
15.Paying Too Much Commission <~~6% max (for both agents)
16.Presentation <~~ Stage!!
17.Failing to Complain
18 Signing a Standard Agency Agreement

Good post thanks!!

[badmomma]

I especially like number 17 when you fail
to complain when your agent isn't doing
what you need them to do you are doomed
to fail. Don't wait for mistake number two
nail them right away, the longer you wait
the longer you will have to wait for a sale.

[thohome]

I'm glad you agent is Hot Jared AKA your wife. and thank you for all the input. your knowledge in this area is well beyond mine. I have bought and sold a couple of houses and not out of profit so much but out of necessity.. We did have one realitor that told us the neighbor hood was top notch and the school was the best in the area just to have my neighbor attempt suicide in front of my kids and the school was so racist against whites we pulled out and took a lose on the house.

[JaredfromIndiana]

Wow! That sucks!!!!!!!!! Right in front of your kids? Man... I'm really sorry to hear that. That's just terrible.

Never trust realtors!!!! Well, not never, just do your due dilligence is what I meant...

[Lady Flipper]

Well, what does that mean?

6.Becoming a Victim of Conditioning

[JaredfromIndiana]

CONDITIONING IS ONE OF THE CRUELEST REAL ESTATES TRICKS. It has one purpose: to convince sellers to lower their prices so that their homes can be easily sold, thus ensuring that the agents get paid.

There are two classic symptoms of conditioning. The first is when the agent praises your home before you sign and then criticises your home after you sign. The second is when the price the agent quotes you becomes much less after you sign.

Conditioning works in two stages. The first stage is the 'Activity' Stage. This is when the agent creates lots of activity - which causes your home to be sold for a lower price. The second stage of Conditioning is the "Crunch". This is when pressure is applied to you to reduce your price.

Conditioning is a common real estate trick. It is taught in several real estate courses. Most sellers are no match for trained agents. They do not realise what is happening until it is too late.

AKA Don't trust realtors!!

[flippinout]

It is a shame that some real estate agents use unscrupulous tactics when selling your home but as with any other business, they are in it for the profit they make.

Jared, do you have guidelines you use to find a real estate agent. I know your wife is one, but if she wasnt, what would you personally look for in a real estate agent..

[JaredfromIndiana]

Oh boy... here we go... the magic question. LOL. I am not a huge fan of realtors. Never have been, never will be. I think most of them are glorified car salespeople. Dont' get me wrong, some of them are good, but they don't understand the investing business.

I want an agent that is going to do what I ask them to do (as an investor). Show me the houses, run comps, and make offers. Period. Don't try to give me investing advice because you don't invest. It's my a$$ on the line, not yours.

If I am looking to buy a house for my primary residence and not an investor, I would suggest interviewing a few agents and see who you get along with. Ask for references and actually call them. There are good realtors out there, it's just up to you to find them.

Anybody else have any advice on this?

[flippinout]

You are so right Jared.

When I sold my dads house a few years back, I found the right realtor the first try. Since I live about 100 miles from where the house is located, it was critical to get the best I could find, one that would do it my way and get my price.

He even called me on several occassions when one man showed interest in the house and told me that the man had offered to pay more with the furniture left in the house.

I explained what furniture I wanted to keep, and he told the man what I offered, in the long run I left some furniture there, got what I wanted and still got a better price than what I had been asking.

I made the trip to finalize everything and the realtor had everything ready and waiting and we were done, took a u-haul and got what I wanted and handed the keys over.

Everyone was happy and with a minimal amount of effort on my part.

Having the right agent is so very important. And the bottom line is the realtor is working for you so you have the right to tell him what you do and dont want or will or wont do. Dont let them buffalo you when you are buying or selling, and dont take their word on anything, if in doubt, check it out yourself or get that inspector to come in. Get the inspector anyway, sometimes owners dont put it all out for a prospective buyer to see.