Are you selling your New Jersey house through a realtor? Read this blog post that reveals 4 Mistakes To Avoid When Choosing A Realtor in New Jersey…
1. Don’t Assume That You Can Sell Right Away
The market can shift from one day to the next, it varies and depends on a number of factors. It is essential for you to make a REALISTIC timeline on when you can sell.
Assume that it will take months for the sales process to be completed if you are a seller. You have to consider the time you have to spend on fixing up the house – to showing buyers – to negotiating – to setting a closing date – to moving out. Be careful not to over-promise a timeline to your sellers – set their expectations if you are an agent,
2. 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, keep in mind that the actual selling price might be different than the asking price. If you’re an agent, see to it that you explain this to your sellers.
3. Don’t Assume All The Money Goes Right Into Your Pocket
Most people assume that the selling price (minus anything they owe on their mortgage) is pure profit. This is wrong.
As a seller, you have to know that there will be a realtor commission, closing costs, and other fees you’ll have to pay. If you’re a real estate agent, make sure you explain it to your customers.
4. Don’t Assume That The First Offer Will Go Through
Buyers often make offers and then discover that they can’t get financing for some reason.
If you are a seller, be prepared to have one or two 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.