listings constantly. They don’t usually chase homes that have been sitting. And if prices in your area are dropping, waiting can cost you real money. Price based on today’s market, not hope.
Pricing High With a Plan to Drop Later
Another pricing trap is listing far above comparable homes with the plan to reduce the price if it doesn’t sell in three months. That may work in a stable or rising market, but in a declining market, you may have to reduce even more aggressively to catch up. Price competitively from the beginning, and re-evaluate quickly if conditions shift. Work with your agent to determine fair market value and adjust with purpose, not panic.
OTHER SELLER MIS ELLER MISTAKES
Many consumer resources publish “don’ts” that can derail an otherwise successful sale. Here are the big ones to avoid: Selling Before Getting Qualified Yourself Entering a contract to sell before you’re qualified to buy another home can put you in a bad spot. Your finances may have changed since your last purchase, loan guidelines may be different, and your future housing costs may be higher than you expect. Before listing, get pre-approved by a lender you trust, study the market where you plan to move, and build a backup plan in case timing gets tight.
Wasting Time on Unqualified Buyers
It’s wasted effort to show your home to someone who can’t buy it. Require a pre-approval letter or proof of funds early. A good agent will filter this upfront and protect your time.
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