Unless you are a real estate professional, you may not be an expert in buying or selling houses. There are many legal complications and webs that may occur whenever one is in the real estate market, and to help sort through the complications here are some common mistakes made by first time sellers and how to avoid them.
First, the most common mistake is that most first time sellers treat the selling process itself as a DIY project when it is more complicated than that. As stated above, there are so many legal implications of selling and buying a property including real estate contracts and riders that need to get drawn up. Anticipating appraisals and all costs associated with the valuation of the property will require market knowledge, access to the local multiple listing service and a non emotional perspective. There is a lot of documentation requirement that making a mistake can cost an owner a lot of money.
Do not be in a situation like this. Hire a real estate agent who has the license to handle real property matters for you.
Second, setting the right price takes experience. First time sellers, who are not savy in reading market trends, often give a high asking price without consideration of a possible appraisal or valuation. A real estate professional knows that the secret to getting the amount you want is not always in the asking price but the marketing.
Third, first time sellers have emotional attachmets to the proeprty in most cases and lead negociations with the hearts not their heads. Because of this they may be unwilling to negotiate the terms and believe that there will be more potential buyers along the way. Some sellers are reluctant to settle the terms even if the buyer is already giving them more than the asking price. With the help of a real estate professional, it is easier to see which deals are good and which are not.
Finally, some sellers fail to see the value of being patient and giving other parties some time. Rushing a potential buyer to the signing table will create an adversarial relationship and can cost you the deal. Buyers, like sellers, will need to do their due diligence to ensure the property is a right fit.
To discuss these and other selling tips contact me today [email protected]
About the Author
Jamie Jamieson
Professional Association National Association of Realtors (NAR) New York State Association of Realtors (NYSAR) Hudson Gateway Association of Realtors/ Hudson Gateway Multiple Listing Service Education I hold an A.A in Italian Studies and an A.S in Accounting as well as being one of few students accepted into the Cambridge University International Student Study Program abroad as a returning student in 2011. Community Involvement I am proud to serve on the Home & School Board for St. Augustine School in Ossining and maintain the role of a Girl Scout leader. I am an active member of the community assisting in a variety of fundraising efforts. Personal I am a young and energetic agent who prides myself on providing personalized service with honest representation whether you are buying or selling your home. My expertise of the river towns, attention to detail and excitement for real estate are a few of the many assets I will bring to you. I will utilize my eagerness and market knowledge of the area to build lasting relationships with all of my clients that will extend far beyond the closing table. Be at ease from start to finish with my help. In my spare time, I love exploring the Hudson Valley with my husband, three children and our dog, Pippin. I love scoping out the infinite restaurants, farmers markets and other fabulous activities this exciting county has to offer. Experience Before joining William Raveis Legends Realty Group I started my career with Hudson Homes Sotheby's International Realty team. Prior to real estate, I had a remarkable 15+ year career in Restaurant Management/Hospitality including Ruth's Chris Steakhouse, Rivermarket and several establishments in Newport, Rhode Island. My experience in that field provided me with the foundation of excellence in customer service. Areas Covered All of Westchester County and parts of Putnam County.