Selling your Reno area house through an agent? Make sure you read this blog post that reveals 4 mistakes you should avoid when listing when an agent in the Reno area…
If you’re looking to sell your Reno house, or if you’re an agent who is selling houses in Reno or surrounding areas then here are 4 mistakes you should avoid when listing when an agent in the Truckee Meadows…
First, Don’t Assume That You Can Sell Right Away
The market varies and can even shift from one day to the next, depending on a number of factors. So make sure you set realistic timelines about how long it will take to sell.
If you are a seller, assume it will take at least 6 months for the sales process to be completed – from fixing up the house to showing buyers to negotiating to setting a closing date to moving out. If you are an agent, be careful not to over-promise a timeline to your sellers – set their expectations.
Second, Don’t Assume That The Asking Price Will Be The Selling Price
The asking price is the starting point in the sales process – it establishes what a seller wants to sell for.
If you are a seller, realize that the actual selling price might be different than the asking price. If you’re an agent, make sure you explain this to your sellers.
Third, Don’t Assume All The Money Goes Right Into Your Pocket
Some people make the mistake of assuming that the selling price (minus anything they owe on their mortgage) is pure profit. But this is not true.
If you are a seller, make sure you know that there will be agent commissions, closing costs, and other fees you’ll have to pay, generally, estimate approximately 10% of the sales price. If you’re a real estate agent, make sure you explain the costs to your customers.
Fourth, Don’t Assume That The First Offer Will Go Through
Buyers often make offers and then discover that they can’t get financing for one reason or another.
If you are a seller, be prepared to have one or two (sometimes more) buyers fall through before a buyer can be found. If you’re a real estate agent, prepare your sellers ahead of time by explaining this so they can be ready in case it happens.
Whether you’re a property owner looking to sell, or you’re a real estate agent who is representing sellers, these are 4 common mistakes that can happen during the sales process – so make sure you’re aware of them.