Real Estate Watch – Camden McKay Real Estate – Troy Merrell
Get the Most from Your Sale
A seller’s market presents unique opportunities but, if you are not careful, even a hot seller’s market can be relegated to a wasted opportunity. It’s easy to get caught up in the allure of an excellent real estate market. It is critical to approach it with a sound strategy and to understand what you are up against and how to maximize your efforts. Below are a few common mistakes that can undermine even the best of seller’s markets.
Just because there is a potential to make a large profit from your home doesn’t mean it is going to happen. Real estate is a fickle industry and its economic landscape is ever-changing. Not to mention, buyers’ circumstances change. The marks of overconfident sellers are often three-fold.
- First, they overprice their house assuming that demand will justify it. When buyers see that your home is well above normal market value, they will look elsewhere. As a rule of thumb: the fewer buyers interested in your home, the worse your prospect of selling for top dollar becomes. Ask yourself: would you buy an overpriced home?
- Second, overconfidence breeds a lack of due diligence. In terms of selling a house, this often occurs with the buyer vetting process. In a seller’s market, buyers will likely see houses that they are considering being bought quickly. This atmosphere can create desperation and some buyers react by bidding beyond their means. Although they may have the best of intentions, this will likely lead to problems with the sale.
- Lastly, never celebrate too soon. Even well-intentioned buyers have to pull out of a purchase at times. Real estate contracts have many requirements and it only takes one to be unfulfilled to kill a deal. Communication with your agent is vital to understanding where the sale stands.
Are you looking to sell your home but want to make the most of the current market? It’s never to soon to talk to a professional. Give me a call. Whether you’re buying or selling today or next year, I’m happy to help.
Camden McKay Real Estate
9926 Carmel Mountain Rd.
San Diego, CA 92129