Sunday, January 29, 2006

Top Mistakes of Home Sellers in 2005 per Broker Agent News

Top Mistakes of Sellers in 2005

1. Over-priced home. Sellers over-priced properties in record numbers. Realistic pricing based on sold comparable's in the last 6 months illustrates to buyers that you understand today's market.
2. No internet property marketing. Over 70% of all home buyers start their search on the Internet before contacting a real estate agent (per the National Association of Realtors). Require your agent to do a minimum of 8 indoor and outdoor photos in the internet.
3. Stop showings too early after contract. Buyers remorse was on the upside in 2005. Many sellers lost valuable time taking their home off the market too early after signing a purchase contract.
4. Refused to pay buyers closing costs. For the first time in many years buyers asked for and received give-backs from sellers. Closing costs and points on mortgages were the most popular. In 2006 expect owner-financing to be the next buyer perk.
5. Exclusion confusion. As prices dropped, seller began to strip fixtures and amenities in contract negotiations. If you plan on taking it with you, replace it before your home is put on the market.
6. Knowing your market and competition. Buyers in 2005 were very savvy with market times and available inventory. Some home sellers were out-of-touch with competition and "listening" to the market.

Call me at (805) 901-8805 if you have any questions. Or visit me at my web site at: .



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