13 ways homeowners make sure they never sell their house

It’s true. Some homesellers make sure they will never ever sell they’re house.

They do it by —

Exaggerating the market value – A house should be listed at no more than 105% of current market value, or even less in this competitive climate. Any higher, and homesellers have priced their house right out of the market. <!--more-->

Refusing to budge on initial asking price – When a house isn’t getting enough interest, it usually means it’s overpriced. The list price should be lowered, and lowered again, and again, until buyers start knocking on the door.

Telling buyers to, “Bring your best offer” – Homesellers wouldn’t have to state this if the list price was on target to begin with.

Exaggerating square footage – Eventually buyers will find out what the true square footage is from county records and appraisers.

Not listening to the news – Or if they do, not caring that this is the most difficult real estate market since the Great Depression.

Not understanding the concept of value – When there are 10 buyers for every house, the house that offers extraordinary value is the house sells.

Hiring the wrong real estate agent – Real estate agents are as individual as … well … the individual. Some offer more in service than they will receive in compensation … and others simply don’t.

Overstating upgrades and updates – Homebuyers are astute and so are their agents. Any dishonest claims will show up on the home inspection report.

Listening to friends, relatives and neighbors – When homeowners seek free advice, they always get their money’s worth.

Shortchanging buyer agents – Agents representing homebuyers can choose which houses to show and which houses to avoid. Houses that offer less than an agent’s personal compensation requirement are usually passed over. While buyers can pick up the slack and pay their agent at closing, they will figure this into their offer price. Either way, the homeseller will pay.

Claiming they really don’t have to sell – While these homeowners may find a real estate agent to list their house, the agent they find will are only take on the house as a loss leader. Once the house is listed, they’ll disappear into the woodwork, skimping on service and marketing.

Saying, “I’m not going to give my house away” – Homeowners who use this common phrase really mean, “I’m not going to sell my house for less than I want.” While they do have control over setting the list price, they have no control over the price homebuyers are willing to pay in the current market.

Asking for an all-cash purchase – Buyers with cash are possibly more discriminating about purchase price … and won’t pay a dime more than the house is worth.