December 22, 2010
1. Not prepping your home: Okay, so this one could apply whether or not you have an agent. And it’s not such a tough one. Clean up! Get that extra clutter out. Do minor improvements like a new coat of paint or weeding the garden.2. Overvaluing your home: Be realistic. Do your research and make sure you price your home correctly. Look at homes in your area– remember, there’s a reason people pay for a real estate agent to do this work for them. You have to do that leg work yourself.3. Skipping the home inspection: Most buyers nowadays make their offers conditional on a home inspection. So don’t let your sale get to that point and fail. Be sure to get your own home inspection done so that you know about any potential issues before your potential buyer does.4. Not setting a correct commission fee for a buyer’s agent: Just because you didn’t enlist the services of an agent to sell your home doesn’t mean you’re getting off scot free. For maximum visibility, you have to offer a competitive agent commission rate (about 2.5-3%).5. Not putting enough photos online: Trolling FSBO listings can be time-consuming– but going to see a home not worth your time is even worth. Give potential purchasers enough to decide whether or not they want to bother because oftentimes, if they’re not sure, they won’t.6. Not listing your home on the MLS: You can get an agent to list your home on the MLS for a flat fee. Take advantage of that.7. Being unavailable: You’ll have to work around your busy schedule to ensure you’re around enough to show the home.8. Being unresponsive: Things move fast– and if you’re not responding quickly to interested purchasers chances are they’ll back away. Make sure to check your voicemail frequently and follow up with anyone who seemed to have genuine interest.9. Taking your home off the market too quickly: When you finally get that offer, you might be so relieved that you take your home off the market right away. Make sure you know your buyer is qualified before you do so to avoid losing momentum.
To read more about this list see Investopedia’s article.