Buying
1. Hiring a new agent just because they are a friend or relative. “Buyer’s need to do their due diligence to ensure they are working with an experienced, full-time, top-producing agent,” says Lex Lianos of Lex Lianos & Associates.
2. Not shopping around for a lender. “I always advise my clients to interview at least three local lenders and select the one they are most comfortable working with,” says Irina Babb at RE/MAX Allegiance.
3. Not being willing to compete in the market. “In this market, often times the best deal is getting the home under contract,” says John “Rum” Rumcik at HomeRum.net. “The rising rates play a big part in determining this as waiting can make the home more expensive.”
4. Going for a too-good-to-be-true deal. “Buying properties with terminal defects that open the door to the price going down or having little appreciation,” says Judy Cranford of Cranford & Associates, is not a good idea.
Selling
1. Over- or underpricing the home. “Not having a clear strategy for setting the price and not adequately responding to the market,” says Natalie U. Roy from Bicycling Realty Group.
2. Not properly prepping the house for sale. “Every seller wants to sell the house fast and for a top dollar,” says Babb. “Sellers have to invest money in home improvements/upgrades and staging. Depersonalize, de-clutter, make the house sparkle and turn it into an irresistible and marketable home.”
3. Putting too much money into getting the home ready for sale. “You always have to think about your return on investment,” says Roy.
