Coconut Grove, Coral Gables & South Miami Real Estate
1. Failure to take first offer seriously
There is a common saying among Realtors “the first offer is often the best”. Unfortunately, sellers don’t always agree. I recently read that ninety percent of first offers are the best offers to come through. Thus the common saying. Considering this, my recommendation is to negotiate all offers, no matter how far off the mark they are. Just because this one came in quickly doesn’t mean there will be offers lining up behind it. Realtors repeatedly offer this advice to the seller and often the sellers are resistant. It’s not only the sales price but also how much it costs to wait.
2. Refusal to invest some money up front for minor repairs
Believe it or not, buyers are busy people too. Just like you dread fixing minor house problems, so do they. Buyers simply don’t want to deal with repairs after they close. To set your home apart from the pack and avoid giving buyer’s credit, call in a plumber or electrician to fix the problem yourself. Doing this will generally cost you significantly less than the credit a buyer’s will request based on an inspection. Make the necessary fix-ups before expecting to sell your home.
3. Listing your house at an unrealistic price
When sellers list their homes too high, their home sits on the market far longer than it should. Any serious buyer is going to be informed and know this so make sure to list your home at a reasonable and realistic price from the start. Otherwise, your home will sit on the market for longer, which actually can be a red flag to prospective buyers. When a home has a high “number of days on the market”, people tend to skim over it assuming something must be wrong with it when that may not be the case.
If you or someone you know is interested in buying or selling their home and looking for a real estate professional, give me a call at 305-987-2644 or send me a note here.