If you need assistance, please call 914-290-5258

Fatal Mistakes in Home Selling

Tuesday, March 17, 2015   /   by Vanessa Saunders

Fatal Mistakes in Home Selling

There's a saying that describes expired listings in the real estate business: "The second mouse gets the cheese." After a home fails to sell because the first Realtor has allowed clients to make serious mistakes, the next Realtor, if he's a good one and markets the home properly, can step in and sell it.


What kind of mistakes? One fatal mistake is pricing a property too high. Sellers would say that it's worse to price it too low, to "leave money on the table." They are mistaken. An under-valued property will usually bring in multiple offers - astute buyer's agents know the market and can smell value a block away. An over-priced property will just sit on the market until its contract with the listing agent expires.


When a seller interviews potential real estate agents, it's easy to see how they can get excited by a Realtor promising to sell the property for a lofty price. Choosing the listing agent who suggests the highest price is the worst fatal mistake a seller can make.


How much do you think your home is worth? It doesn't matter, actually. Nor does it matter what your agent thinks. The only person whose opinion matters is the buyer who makes an offer. Pricing a home is partially science - getting the comparative market data, adjusting for the differences among similar homes, tracking the changing market and taking stock of present inventory. Pricing is also part intuition on the part of the Realtor or appraiser. And in the end, the market dictates the price.


How much does that expired listing cost the seller? In real terms, all those extra mortgage payments that could have been avoided had the listing sold quickly. Add to that the intangible value of keeping the property spotless, and the hassle of dashing out during showings. It also affects the value because it's not a fresh listing anymore. It's gone stale, dated, a market-worn home that was overpriced for too long.

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

image001.png The data relating to real estate for sale or lease on this web site comes in part from HGMLS. Real estate listings held by brokerage firms other than are marked with the HGMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by the Hudson Gateway Multiple Listing Service, Inc. or the Hudson Gateway Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2019 Hudson Gateway Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.