Are you thinking about selling your house in Hamilton, Ontario through a realtor? Or are you a real estate agent representing sellers? Here are some common mistakes you should avoid when listing a house on the market.
Don’t Assume the House Will Sell Immediately
The real estate market is fickle and constantly changing depending on a number of circumstances. Ensure you have realistic expectations about how long it will take to sell your house.
If you are a seller, it can often take months for the entire sales process to be finalized. From completing any necessary repairs to conducting showings and open houses to negotiating to finally closing, it can be a long journey. If you are a realtor, be careful not to exaggerate how quickly you’ll be able to sell your client’s house. It’s better to give them reasonable expectations so that they aren’t disappointed.
Don’t Assume the Asking Price Will Equal the Final Sale Price
The asking price for the house is just a starting point. It’s just an approximate ballpark figure of what the seller is looking for.
If you are a seller, it’s important to realize that after negotiations the final selling price may be quite a bit lower than your initial asking price. If you are an agent, make sure you thoroughly prepare your sellers for this to set reasonable expectations.
Don’t Assume the Entirety of the Sale Money Goes Directly Into Your Wallet
The final sale price is not just pure profit for the seller. There are many fees involved with listing your house on the market with a realtor. There are real estate commissions to pay, closing costs, and other associated fees. As a seller, it’s very important to crunch the numbers and be aware of this.
If you’re a realtor, be ethical and ensure you disclose this to your clients ahead of time.
Don’t Assume The First Offer You Get is a Done Deal
Even if a buyer makes an offer on a house, the deal can often fall through if they are unable to obtain financing for any reason. As a seller, remember not to get overly excited when you get your first offer. Often, a potential buyer or two may fall through the cracks before you finally achieve a sale and actually close on the house. It’s crucial for realtors to prepare their clients for this possibility.
Are you considering selling? Or, are you a realtor representing sellers?
We are a professional team of house buyers who would love to hear from you.
We’d be more than happy to work together with you for a win-win situation.
Get the process started by following the link below or give us a call today at (905) 521-8000 to speak with our specialists.
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