What are novice sellers “Top 3 Mistakes”?

The listing price is a strategy, but many sellers think of it as an expectation. Perhaps the toughest mistake?

With home prices stabilizing due to high interest rates at 6-7%, homeowners can still enjoy this being a good time to sell because demand is still high, due to most established home markets remain low in inventories. The real issue is… these buyers are getting priced out due to mortgage payments being out of their reach now that interest rates are so high. But some sellers might be so caught up in the “housing market” headlines that it clouds their expectations.

* Unrealistic price expectations: It is less of a sellers market now than it was 3 months ago, in fact someone might say…”the ground is moving under our feet as we stand here”….but that doesn’t mean that a”sky is the limit” pricing strategy will work. “Sellers often erroneously believe that the list price means their desired selling price. The list price simply indicates an approximate, appropriate price valuation and its purpose is to drive interest in the property.

* Accepting the highest offer: Which offer is truly the best offer? Some buyers gravitate to the highest priced bid, but those offers can and do frequently fall apart. As a real estate pro, I have often told sellers ” we don’t always go with the highest offer… We go with the offer most likely to close”. Home offers can fall apart for a number of reasons, including financing, appraisals or inspections.

* Trying to FSBO: “For Sale By Owner” may tempt homeowners who believe a “sellers market” offers them an opportunity to DYI their home sale. However, the FSBO route could limit the homes exposure to larger pools of buyers since FSBO’s can’t be listed on MLS. Even if the home gets a buyers attention, my services and expertise are critical to navigate the prices, help with paperwork and sort through the possibility of multiple offers.

Visit my website at bobhodgerealestate.com or give me a call today – 813-245-1157.