Selling a home is a massive project. There are many pitfalls and many traps for the first seller. Having the proper knowledge will help to make the sale go smoothly. Trying to sell real estate without the proper knowledge is detrimental at best and costly at worst. Just as with any business, there are applicable laws that must be adhered to.
Many homeowners mistakenly believe that selling real estate is as simple as selling a used car. Just post some ads on Craigslist and put a sign in the yard and wait for the phone to ring and all they will have to do is cash the check. Unfortunately, nothing is that simple, especially when it comes to selling your home.
The laws regarding real estate sales are there for a reason, and Colorado has one of the longest contracts of any state, and one of the oldest MLS’s in the nation. Since an investment in real property is a major expense for anyone, the laws offer protection mostly to the buyer. It is very important to know each one of the laws.
Not working with a real estate professional
If there is any doubt about any of the laws or requirements for selling a home, a qualified realtor should be used. Many sellers believe they will save money if they sell their home FSBO (For Sale By Owner). The fact remains, on average homes sold by Realtors sell for more then those sold FSBO. Contact us to find out more.
Real estate agents actually do earn their commissions, perhaps unbelievably. They are responsible for knowing all of the laws in any communities where they are licensed. If there are any difficulties with the sale, the realtor is qualified, certified and trained to handle them quickly and efficiently so that they do not interfere with the sale of the property.
Real estate agents are familiar with all of the aspects of home sales from the beginning until the very end. From the time an offer is made on the home, processes such as escrow, closing, financing and many other hidden aspects may rear their ugly head and catch the seller off guard. An excellent real estate agent will be aware of every step and be able to guide the seller closely, so that every aspect of the sale goes well for all of the individuals involved. Preview our Seller Advisor Marketing System here, then contact us to have a Thrive Realtor show you how the system can work for your particular home.
Overpricing the home
Another common mistake is overpricing the home. Many sellers think their home is worth more then it really is. Unfortunately many sellers base the price of their home on data that is irrelevant….did you know there are actually FIVE different prices for your home? Which one is the right one? Choosing the wrong one can be catastrophic to your efforts to get maximum value in minimum time. Don’t make that mistake!