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No matter what’s going on in the housing market, the process of selling a home can be challenging. Some sellers have a hard time saying goodbye to a treasured family residence. Others want to skip ahead to the fun of decorating and settling into a new place. Almost all sellers want to make the most money possible. 

Whatever your circumstances, the road to the closing table can be riddled with obstacles — from issues with showings and negotiations to inspection surprises. But many of these complications are avoidable when you have a skilled and knowledgeable real estate agent by your side.

For example, here are seven common mistakes that many home sellers make. These can cause anxiety, cost you time, and shrink your financial proceeds. Fortunately, we can help you avert these missteps and set you up for a successful and low-stress selling experience.


MISTAKE #1: Setting an Unrealistic Price 

Many sellers believe that pricing their homes high and waiting for the “right buyers” to come along will net them the most money. However, overpriced homes often sit on the market with little activity, which can be the kiss of death in real estate — and result in an inevitable price drop.1

Alternatively, if you price your home at (or sometimes slightly below) market value, it can be among the nicest that buyers see within their budgets. This can increase your likelihood of receiving multiple offers.2

To help you set a realistic price from the start, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the amount that similar properties have recently sold for in your area.

Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). We can help you find that sweet spot that will draw in buyers without undercutting your profits.  


MISTAKE #2: Trying to Time the Market

You’ve probably heard the old saying, “Buy low and sell high.” But when it comes to real estate, that’s easier said than done. 

Delaying your home sale until prices have hit their peak may sound like a great idea. But sellers should keep these factors in mind:

-Predicting the market with certainty is nearly impossible.
-If you wait to buy your next home, its price could increase as well. This may erode any additional proceeds from your sale.
-If mortgage rates are rising, your pool of potential buyers could shrink — and you would have to pay more to finance your next purchase.

Instead of trying to time the market, choose your ideal sales timeline. This may be based on factors like your personal financial situation, shifting family dynamics, or the seasonal patterns in your neighborhood. We can help you figure out the best time to sell given your individual circumstances.


MISTAKE #3: Failing to Address Needed Repairs 

Many sellers hope that buyers won’t notice their leaky faucet or broken shutters during home showings. But minor issues like these can leave buyers worrying about more serious — and costly — problems lurking out of sight. 

Even if you do receive an offer, there’s a high likelihood that the buyer will hire a professional home inspector, who will flag any defects in their report. Neglecting to address a major issue could lead buyers to ask for costly repairs, money back, or worse yet, walk away from the purchase altogether.

To avoid these types of disruptions, it’s important to make necessary renovations before your home hits the market. We can help you decide which repairs and updates are worth your time and investment. In some cases, we may recommend a professional pre-listing inspection. 

This extra time and attention can help you avoid potential surprises down the road and identify any major structural, system, or cosmetic faults that could impact a future sale.3 


MISTAKE #4:  Neglecting to Stage Your Home

Staging is the act of preparing your home for potential buyers. The goal is to “set the stage” to help buyers envision themselves living in your home. Some sellers opt to skip this step, but that mistake can cost them time and money in the long run. A 2021 survey by the Real Estate Staging Association found that, on average, staged homes sold nine days faster and for $40,000 over list price.4

Indoors, staging could include everything from redecorating, painting, or rearranging your furniture pieces to removing personal items, decluttering, and deep cleaning. Outdoors, you might focus on power washing, planting flowers, or hanging a wreath on the front door.

You may not need to do all these tasks, but almost every home can benefit from some form of staging. Before your home hits the market, we can refer you to a professional stager or offer our insights and suggestions if you prefer the do-it-yourself route.


MISTAKE #5: Evaluating Offers on Price Alone

When reviewing offers, most sellers focus on one thing: the offer price. While dollar value is certainly important, a high-priced offer is worthless if the deal never reaches the closing table. That’s why it’s important to consider other factors in addition to the offer price, such as:

-Financing and buyer qualifications
-Deposit size
-Contract contingencies
-Closing date
-Leaseback options

Depending on your circumstances, some of these factors may or may not be important to you. For example, if you’re still shopping for your next home, you might place a high premium on an offer that allows for a flexible closing date or leaseback option.

Buyers and their agents are focused on crafting deals that work well for them. We can help you assess your needs and goals to select an offer that works best for you. 


MISTAKE #6: Acting on Emotion Instead of Reason 

It’s only natural to grow emotionally attached to your home. That’s why so many sellers end up feeling hurt or offended at some point during the selling process. Low offers can feel like insults. Repair requests can feel like judgments. And whatever you do — don’t listen in on showings through your security monitoring system. Chances are, some buyers won’t like your decor choices, either!

However, it’s a huge mistake to ruin a great selling opportunity because you refuse to counter a low offer or negotiate minor repairs. Instead, try to keep a cool head and be willing to adjust reasonably to make the sale. We can help you weigh your decisions and provide rational advice with your best interests in mind.


MISTAKE #7: Not Hiring an Agent

There’s a good reason 90% of homeowners choose to sell with the help of a real estate agent. Homes listed by agents sold for 22% more than the average for-sale-by-owner home, according to a recent study by the National Association of Realtors.5 

Selling a home on your own may seem like an easy way to save money. But in reality, there is a steep learning curve. And a listing agent can: 

-Skip past time-consuming problems 
-Use market knowledge to get the best price
-Access contacts and networks to speed up the selling process 

If you choose to work with a listing agent, you’ll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent’s commission.

We can navigate the ins and outs of the housing market for you and make your selling process as stress-free as possible. You may even end up with an offer for your home that’s better than you expected.

BYPASS THE PITFALLS WITH A KNOWLEDGEABLE GUIDE

Your home selling journey doesn’t have to be hard. When you hire us as your listing agent, we’ll develop a customized sales plan to help you get top dollar for your home without any undue risk, stress, or aggravation. If you’re thinking of buying or selling a home, reach out today to schedule a free consultation and home value assessment.

Sources:
1. The Washington Post-
https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/
2. Realtor.com-
https://www.realtor.com/advice/sell/spark-a-bidding-war-for-your-home/
3. American Society of Home Inspectors- https://www.homeinspector.org/Newsroom/Articles/Before-You-Sell-6-Reasons-to-Get-a-Pre-Listing-Inspection/15766/Article
4. Real Estate Staging Association-
https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548
5. National Association of Realtors-
https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics 



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What our clients are saying  

Roman is a highly experienced, professional, transparent, and reliable individual. He helped my wife and I through a very difficult transaction and never gave up on meeting our deadlines. He is an excellent negotiator with a very personalized touch. Highly recommended!

 

~ Slava

Roman, Liana, and the team successfully guided us to our first home purchase. It was a great experience - they are attentive, thoughtful, hard working and always had our interests in mind, while navigating our concerns as first time home buyers. We highly recommend Parkway and we look forward to many years of working with the firm.

 

~ Michael

Roman made buying our first home less stressful by walking us through the process, preparing us for all possibilities, and being by our side. Not only did he negotiate an amazing price (under ask), but he also got us a sizable amount of credits for issues he found in the house. He's a great guy and will have your best interest at heart. 2 thumbs, 5 stars!

 

~ Lawrence

Roman, Liana, and the team successfully guided us to our first home purchase. It was a great experience - they are attentive, thoughtful, hard working and always had our interests in mind. We highly recommend Parkway and we look forward to many years of working with the firm.

 

~ Allison

Roman Shersher at Parkway Estate Properties recently represented us in purchasing a home in LA and did a superb job. With his professional and quality help, we were able to close escrow swiftly and smoothly. He was on top of all the necessary items and procedures every step the way. He even went above and beyond to ensure the move into our new home was done properly. We highly recommend Parkway Estate Properties for anyone who’s looking to buy or sell a home knowing that you would receive the best services from them as we did.

 

~ Angela

Roman was instrumental in us finding and moving into our new home. He did everything in his power to ensure a smooth transition for us, even going above and beyond to arrange a moving service for me. Roman & Liana also helped arrange a plumber/handyman to help fix some minor things before we moved in. He made sure we felt comfortable with every aspect of the house before moving forward, constantly giving us updates as we navigated many things remotely post-COVID. Would highly recommend Roman Shersher and Parkway Estate Properties for your next property purchase! Thank you, Roman & Liana!

 

~ Elise

My husband and I just bought our first home thanks to Roman, Liana, and their team at Parkway Estate Properties. They made the whole process very smooth and truly took care of us. We couldn't be more grateful for how professional they were, trustworthy, personable and went above and beyond. They are a great team who we highly recommend to anyone buying or selling their home!

 

~ Anna

Working with Roman and the Parkway Estate team has been a delightful experience! Roman’s responsiveness, organization, and professionalism throughout the selling process showed me I made the right decision hiring him as my Realtor. I had a unique situation and needed to sell as quickly as possible. He worked with me and my timelines and got multiple offers within a week of listing my property using his incredible marketing tactics to get an offer accepted well-above our asking price! I would recommend Roman and the entire Parkway Estate team to anyone looking to sell their home.

 

~ D

Roman is one of the best brokers I have had the pleasure working with on both commercial and residential transactions. He is respectful, focused, intelligent, tactile, honest, and, most importantly, trustworthy. As his client, you will always feel like you are the priority. I would recommend him to both novice and sophisticated buyers/sellers alike. After working with Roman, working with others will be a difficult and uncomfortable experience.

 

~ Jonathan

Roman was great. We looked for a property for many months and couldn’t find what we wanted or get it accepted once we did. Roman not only beat out another offer but got us $40k off the list price and all the necessary repairs covered fully by the seller!

 

~ Fred

After dealing with a ton of brokers/agents trying to find my dream home for over a year, Roman stepped up to the plate and found me a perfect home within 30 days. He is persistent and follows up daily, while maintaining a professional demeanor. He is also a hell of a negotiator and gets the job done at the price you want. Highly recommend and will definitely use in any future real estate deals.

 

~ Jeff

Roman was our agent who sold our old house and helped us buy a new one. Our experience was unbelievably great, he is a very loyal professional, honest and very fair. He fights for you, and doesn't pressure you into making any moves that you are not comfortable with. Technology made life so easy for us to be able to just sign over the phone without any problems. He will definitely be our agent if we would want to make any kind of move in the future. He is trustworthy and take his business seriously I really appreciated his hard work

 

~ Tammy

Roman was sought for his house flipping expertise. Our house required work thus someone familiar with rehab projects was a big plus. From start he explained the pros and cons of various approaches to consider making the decision process easily comprehensible. Where he really shined was in escrow. He brought in multiple buyers and finessed a sweetheart close. Roman is a true professional with integrity.

 

~ Alex

It has been a wonderful experience working with Roman. I found him business-like, cordial, flexible, knowledgeable, and FUN! He was very reliable and I’m pleased indeed with him. A sincere person he is.

 

~ Gerry

I would recommend my friends and strangers that are going through difficult times with their housing problems to talk to Roman, he can help you work it out!

 

~ Oscar

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