Selling a home is not as easy as it seems. There are many factors that go into the process. It is important to work with a real estate professional that will help guide you through this uncharted territory. That is where our 40 plus years of real estate experience in NJ, including North Caldwell, and West Essex County, will serve you best. The Rampinelli Team is committed to helping you through this difficult transaction. This is a list of some of the more common selling mistakes that homeowners make.
Pricing Incorrectly (too high or too low)
Make sure you determine the market value of your home correctly. If your asking price is significantly higher than what the market is currently bearing, many potential buyers looking for your style of home will view similar but lower priced homes first. Not only does this limit the pool of potential buyers but it also increases the chances that your home will sell for less than its actual value. This is due to the "discount" often associated with properties that have been on the market for a longer than average time. Buyers are often overheard asking their Agent... "What's wrong with that home? It's been for sale forever". Alternatively, if your asking price is too low, you are literally giving away your hard-earned equity just because you did not know what the market would bear. This is where we can help you be more objective in placing a value on your home.
Failing to "Showcase" your home
A little work can improve the first impression of your home a thousand-fold. First impressions are lasting impressions and can dramatically affect a property's perceived value. We have known, for many years, what others are just discovering now, STAGING SELLS A HOME. We have been staging our listings long before it became a household term, and we still do it, because it works.
Mistaking your home's actual market value
Bank appraisals and Tax assessments are not necessarily accurate tools to use to determine your homes actual market value. These processes are based on general guidelines such as lot size and square footage, not the specific qualities and improvements of your home. Using either of these as a baseline could cause you to over-price or under-price your property. It requires detailed background knowledge of all recent neighborhood sales as well as homes currently for sale in order to estimate value accurately. Ask us for a detailed market evaluation.
Choosing the wrong Realtor® OR choosing a Realtor® for the wrong reasons
It is critical that you have full confidence in your Realtor®'s experience and abilities. You want a Realtor® who can explain the whole selling process to you, has a good feel for the market, has access to potential buyers and offers sound advice on how to improve your chances of selling. Try to avoid choosing a Realtor® on the basis of which one gives the highest estimate of your home's value. In order to achieve the best sale price within a reasonable period of time you need an accurate indication of what the true market value of your property is. Knowing this allows you to properly price your home, thus maximizing your chances of selling and allowing you to make your future plans with the sure knowledge that your goals can be attained. The Rampinelli Team is committed to giving you a personalized home buying or selling experience that will benefit you most. We work for YOU!
Failing to take current market conditions/trends into account
Is it a Buyer's market, a Seller's market, a Balanced market? What do future trends look like? The Rampinelli Team can offer you a full analysis.
Not taking advantage of market fluctuations
The Big Picture... Moving up in a market downturn? If your $150,000 home has dropped 10% in value, so has your $300,000 dream home. Yes, you lose $15,000 on your current home, but you save $30,000 on your next purchase! Always keep the big picture in mind.
Using "Hard Sell" during showings
No one likes being pressured. Buyers might wonder why you are so anxious to sell. Let your home speak for itself. The Rampinelli Team can help you show your home in it's best light with our home staging.
Mistaking "Lookers" for "Buyers"
Many people who look at homes for sale may just be getting a feel for the market, seeing how others 'showcase' their homes, or even just looking for decorating ideas. We deal with these situations on a full-time basis and have the experience needed to separate the "Lookers" from the actual "Buyers".
Relying too heavily on advice from the Buyer's Realtor®
The interests of buyers and sellers are often opposing. In an agency relationship it is very difficult for one Realtor® to look out for the interests of both the buyer and the seller. You want to make sure you are familiar with Real Estate relationships and the difference between being a client or a customer before accepting advice from an agent or entering into any formal relationship with an agent.
Limiting the marketing and exposure of your property
Part of what The Rampinelli Team does is to ensure that your property is showcased and marketed in the best and most productive manner possible. Not allowing a "For Sale" sign on the front yard or limiting viewing times can dramatically reduce the number of prospective purchasers seeing your home and have a serious impact on your bottom line.