Top Mistakes Home Sellers Make and How to Avoid ThemNovember 21, 2022
Miami, United States – /RGL Real Estate, LLC/
With property inventory down and demand up throughout the US, getting top dollar for the property may seem guaranteed. But, getting top prices can be difficult when tried, and true practices are ignored.
“No matter the market, there are some common mistakes sellers should avoid if they want to get top dollar for their property,” shares the founder of RGL Real Estate and luxury property expert Nick Robinson.
Six top mistakes to avoid when selling a home
Not Working With an Area Expert
Not hiring a luxury real estate agent to represent the seller’s interests may seem like an easy way to save on commission. But, an experienced agent brings a lot to the table, and without them, the seller is likely to encounter many costly mistakes as well as increased stress.
For-Sale-By-Owner properties tend to sell for a lower price and do not have the advantage of a professional negotiator, market knowledge, sales experience, and more. Additionally, sellers are far more emotionally involved, which can lead to fatigue and making regrettable decisions. Realtors in Miami help ensure sellers get full market value for their property.
Hiring a Realtor for the Wrong Reasons
The choice of a real estate agent can have a huge impact on whether a home gets its top price, so it is important to conduct research. Hiring an agent based on the lowest commission or the most enticing promise of getting the highest price is the fastest way to ensure a complicated and less favorable process.
Asking friends and looking at reviews is an excellent place to start finding a qualified agent, but it is also important to look more deeply at the potential agent’s qualifications. Just because an agent is recommended, works in the area, and may have worked with several clients with luxury properties, it does not necessarily make them suitable for every luxury property transaction.
A Miami luxury real estate agent should have a deep knowledge of the area and its market. They should also have a list of contacts, proven skills in tough negotiations, and experience working with a wide range of people, domestically and internationally.
Overpricing the Property
One of the most common mistakes home sellers make is overpricing the property. Buyers working with agents will know the approximate value of a home, and a home that is significantly overpriced signals to potential buyers that the seller has unrealistic expectations and is unwilling to negotiate.
An experienced Miami real estate agent will suggest a competitive price based on the selling price of similar homes in the area. Agents are skilled at attracting the most potential buyers to the home while getting the best price.
Getting Emotionally Involved
Selling a home is an emotional process. After all, it is natural to get attached to a property where the residents have celebrated milestones and made many memories. One of the best reasons to work with a realtor is that the seller can remove themselves as much as possible so that emotions do not get in the way of negotiations.
Emotions can make the seller overvalue the property or cause them to react when a buyer comes in with a low offer. Many buyers do not intend a low offer to be a personal affront but a starting point of negotiations.
Cutting Costs on Professional Photography
Homebuyers today begin the buying journey online, so a home’s online profile should be as professional as possible. It is important to avoid using lenses and angles that cause the rooms to seem disproportionate to their actual dimensions can be a serious turn-off when buyers see the home in person.
Most professional real estate agents include professional photography as part of their services to accurately and positively represent the home. This ensures that the listing reaches and attracts the greatest number of potential buyers.
Believing Renovations Provide a 100% Return
Renovations can add value to a home, but that does not mean that all renovations create equal or provide the same kind of return. Always talk to a realtor about renovations, especially if the renovation intends to boost home value.
About RGL Real Estate
Nick Robinson and RGL Real Estate specialize in local, domestic, and international clients buying and selling luxury homes from Miami to Fort Lauderdale. Utilizing his vast prior experience in residential development and construction, US DoD contracting, and international business across many continents, Nick brings a unique skill set to investors.
For more information, visit the website at https://www.rglrealestate.com or reach the group by phone at (305) 504-4235
RGL Real Estate, LLC
1395 Brickell Ave., Ste 925
Miami, Florida, 33131