Mistake 1 – Setting a high asking price
A lot of sellers will search online to see what other people are asking for similar properties. They then set their price either at or above this figure hoping to cash in. Ultimately, almost no one sells a property for the asking price. Setting the asking price too high leads to long, convoluted negotiations that can be difficult to close.
What you should do – Set a competitive price
At Century21 Skylux, we advise clients to set their asking price 5-10% below the prices you find online. Doing this puts the seller at an advantage when negotiating since it provides less room for a potential buyer to try and drive down the price. When sellers list their property at a competitive price, closing a deal is easier.