If you are a property owner, you might have heard of listing agents and are interested in hiring one. However, there are 4 common mistakes that can be made during the sale of the house. The mistakes are made through common assumptions that are outlined in this article. Getting rid of these misconceptions is the first step towards making a successful sale. The mistakes are made by both sellers and real estate agents who do not give their customers enough information.
People who are in the market looking to sell their houses in Houston often look for agents to act as intermediaries between them and the buyers. However, when listing an agent, there are common mistakes that house sellers make that make the sale difficult. These are 4 mistakes you should avoid to succeed in listing an agent in Houston.
- Assuming that you can sell immediately
The market is unpredictable, and you can never be sure of what will happen next. A lot of factors determine how long it will take for you to make a sale. One major mistake is setting unreasonable selling expectations thinking the property will sell as soon as it hits the market.
As a seller, you should assume the entire process will take a few months. You will need to acquire the property, renovate it, put it on the market, look for buyers and close the sale. All these things take time, and you should set realistic expectations as an agent.
- Assuming the asking price will be the final selling price
The asking price is the first step when it comes to the sales process. The starting price shows what the seller wants to get for the property. However assuming that it will be the actual selling price is a mistake. Sellers should realize that the selling price will be different from the asking price.
Agents should explain this fact to all their customers to avoid the unnecessary disappointment.
- Assuming all the money from the sale goes back to you
Sellers assume that the money they get from the property is pure profit they get to keep. Even after closing a sale, you will have to deduct some things like agent commissions, closing costs, and other fees.
Real estate agents should explain these deductibles to their clients ensuring they are prepared.
- Assuming the first offer presented to you will go through
When selling the property, you will encounter many buyers. However, the buyer might get into financial troubles and back out of the deal.
As a seller, always be prepared to lose one or two buyers due to financing issues. It will take time for a buyer to be found and a deal to be closed.
Real estate agents should explain this process to prepare sellers in case it happens.
These tips will help you whether you are the property owner or real estate agent representing the interests of a seller. Anyone can make these mistakes, but with the right information, you will have an easy time selling the house.