Selling a Home? Avoid These Common Mistakes – Santa Monica Real Estate
Focusing on Comps: Don’t concentrate solely on the recent sales of homes in your area. Make sure you look at the listing price for homes that are on the market right now. These homes are your competition. Based on your competition, would a potential home buyer think they are getting a good deal on your home, or theirs?
Tip: Go see homes for sale in your neighborhood. Ask your agent what current buyers are looking for in a home these days and ask yourself objectively how your home stacks up against the competition.
Hiring the Wrong Agent: Choosing the right real estate agent is a crucial part of the selling process. You need to find someone who demonstrates knowledge of your area, expertise in the process, and strong marketing skills. You also want to make sure your communication styles mesh. Yet, many people just hire someone based on one friend’s recommendation and wind up frustrated during the process.
Tip: Before choosing an agent, research online agent ratings and reviews. Knowing the experience several people have had with a particular agent will help you make a more informed decision. Make sure to interview at least three agents before making a final decision.
Limiting Your Marketing Exposure: Real estate is often thought of as a local business, but in addition to marketing your home to a few local web portals, be sure to market your home on social media sites and to national real estate sites. Remember – home shoppers are not always local; businesses transfer employees and people move. They need to find your home easily.
Tip: Make sure your agent is active on the top online home shopping websites and has experience using social media to market your home (e.g., Twitter, Facebook, LinkedIn). Even if you aren’t active online, 90 percent of buyers use the Internet to search for a home, according to National Association of Realtors. Don’t forget to use your own social networks to build online buzz and use sites like the Zillow-Yahoo! Real Estate Network to expose your home on a national level.
Ignoring Web Appeal: When marketing your home online, display as many photos of your property as possible. Help buyers visualize themselves in your space by posting lots of interior shots. Focus on what people care about, namely, the kitchen, living spaces, and even the bathrooms. Make sure to clean up and de-clutter, it’s amazing how many messy rooms are shown in listing photos. And remember – as more and more people use mobile apps to shop for homes – 23 million homes are viewed on Zillow’s Mobile apps each month (that’s nine homes per second) – the quantity and quality of photos matter. High-resolution is best.
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