PETER W. PATOUT

  • HOME
  • ABOUT
    • Meet Peter
    • Press
    • Code of Ethics and Standards of Practice
    • Selling your home with Peter Patout
    • Buying your home with Peter Patout
  • LA HISTORIC PROPERTIES
    • Acadiana >
      • Rental: Ory Patout House
    • Felicianas >
      • Brame Bennett
    • Southeast Louisiana >
      • Burgundy
      • Burgundy, 1A
      • Burgundy, 1B
      • Burgundy, #2A
      • Burgundy, 3A
      • Esplanade, #E
      • St. Ann
      • Ursuline, #6
      • Creole Maisonette Rental
      • Historic Cottage Rental
  • MS HISTORIC PROPERTIES
    • Natchez >
      • Rosswood
      • The Elms
  • PERIOD ROOMS
    • Jacobean
    • Hacton
    • Greek Revival
    • Colonial
  • PAST LISTINGS
    • Maison Chenal / LaCour House /Holden Collection
    • Canemount (1851)
    • First Street
    • Belmont Historic Inn
    • North Robertson
    • Bayside Plantation
    • Belle Alliance Mansion
    • Mary Plantation
    • 2615-2621 Chartres St.
    • The Galleries (c. 1869)
    • Loisel House (c. 1830)
    • Cold Spring Plantation
    • Dunleith Historic Inn
    • Fern Hill (c. 1904)
    • Maison Blanche
    • 3440 Coliseum Street (L-19th C)
    • Reymond House (1898)
    • 3441 Chestnut Street (L-19th C)
    • Annunciation
    • 2624-2626 Chartres St.
    • Crawford Plantation House (c. 1836)
    • Fonsylvania (c. 1825)
    • N. Roman
    • Grand Creole Cottage (c. 1828)
    • 1231 Chartres Street, Unit #1
    • Simien House (c. 1910)
    • Hubbs House (1803)
    • Trowbridge House (1840)
    • Lt. Gov. Dr. Paul Cyr House
    • 1002 Jackson #B
    • 911 St. Peter Street #6 (c. 1838)
    • The Blue House
    • Orange Cottage
    • Arabi Shotgun
    • McClure House
    • 231 N. Rampart Street #6
    • 2627-29 Chartres Street
    • Moss House (c. 1890)
    • Paradise Park (c. 1870)
    • 836 St Peter Street, #5
    • Wetherbee House (late-19th c)
    • 825 Smith Drive
    • 1127 Decatur Street, Apt C
  • BLOG
  • HOME
  • ABOUT
    • Meet Peter
    • Press
    • Code of Ethics and Standards of Practice
    • Selling your home with Peter Patout
    • Buying your home with Peter Patout
  • LA HISTORIC PROPERTIES
    • Acadiana >
      • Rental: Ory Patout House
    • Felicianas >
      • Brame Bennett
    • Southeast Louisiana >
      • Burgundy
      • Burgundy, 1A
      • Burgundy, 1B
      • Burgundy, #2A
      • Burgundy, 3A
      • Esplanade, #E
      • St. Ann
      • Ursuline, #6
      • Creole Maisonette Rental
      • Historic Cottage Rental
  • MS HISTORIC PROPERTIES
    • Natchez >
      • Rosswood
      • The Elms
  • PERIOD ROOMS
    • Jacobean
    • Hacton
    • Greek Revival
    • Colonial
  • PAST LISTINGS
    • Maison Chenal / LaCour House /Holden Collection
    • Canemount (1851)
    • First Street
    • Belmont Historic Inn
    • North Robertson
    • Bayside Plantation
    • Belle Alliance Mansion
    • Mary Plantation
    • 2615-2621 Chartres St.
    • The Galleries (c. 1869)
    • Loisel House (c. 1830)
    • Cold Spring Plantation
    • Dunleith Historic Inn
    • Fern Hill (c. 1904)
    • Maison Blanche
    • 3440 Coliseum Street (L-19th C)
    • Reymond House (1898)
    • 3441 Chestnut Street (L-19th C)
    • Annunciation
    • 2624-2626 Chartres St.
    • Crawford Plantation House (c. 1836)
    • Fonsylvania (c. 1825)
    • N. Roman
    • Grand Creole Cottage (c. 1828)
    • 1231 Chartres Street, Unit #1
    • Simien House (c. 1910)
    • Hubbs House (1803)
    • Trowbridge House (1840)
    • Lt. Gov. Dr. Paul Cyr House
    • 1002 Jackson #B
    • 911 St. Peter Street #6 (c. 1838)
    • The Blue House
    • Orange Cottage
    • Arabi Shotgun
    • McClure House
    • 231 N. Rampart Street #6
    • 2627-29 Chartres Street
    • Moss House (c. 1890)
    • Paradise Park (c. 1870)
    • 836 St Peter Street, #5
    • Wetherbee House (late-19th c)
    • 825 Smith Drive
    • 1127 Decatur Street, Apt C
  • BLOG
Picture

How Not to Lose Money When You're Selling

1/28/2021

0 Comments

 
A realtor friend, Michael Zarou, shared this popular article with me and it resonated! Coupled with my experience, my historic property focus helps me to offer the highest level of service.  I hope you also find this article helpful. 

You're selling your home to recoup your investment and fund your financial goals--
to lose money during the sale is an unthinkable possibility that unfortunately befalls many sellers.

Even if they successfully sell their home for an amount higher than they originally paid for the property, there are still many ways in which the seller can miss out on thousands of dollars. The following are a few surefire ways you can instantly lose money when selling your home.
  • Not Hiring the Right Listing Agent.
    Enlisting the help of a real estate agent can make a world of difference. An inexperienced real estate agent can help you sell the home, but a dynamic, knowledgeable, and successful agent can help you maximize your profit. These individuals understand real estate transactions on a detailed level and can help you navigate this process to your financial advantage.
  • Trying to Cut Costs
    If you think cutting costs will increase your profit, think again! Investing in specific elements of your home can lead to a higher sale price. High-quality photography for your listing is necessary to encourage buyer interest. Renovations and repairs add value to the house while cosmetic adjustments to the exterior increase curb appeal and add perceived value to the property. Instead of looking for areas to cut costs, highlight the investment opportunities that can add tens of thousands of dollars extra to the sale.
  • Being Stubborn With the Asking Price
    Pricing your home correctly is key to getting the profit margins you want. Although you may believe that the house is worth more than your agent's suggested listing price, overpricing the property could cost you in the long run. Overpricing your home could cause it to linger on the market and eventually cause you to drop its price to attract buyers. Also, contingencies in the purchase contract may allow a buyer to drop out of the sale if the appraisal is significantly lower than the listing price. Setting a realistic price according to the comparative market analysis is typically the most financially sound decision.
  • Intentionally Deceiving Buyers
    Never try to hide important information from your buyers, such as old damages or liens against the home. Not only is this illegal and cost result in penalty fees, but you can also be forced to fix these issues when they are discovered, which will instantly cost you thousands of dollars.
  • Allowing Emotion to Drive Your Decisions
    Selling your home is an emotional decision; however, you cannot let your emotions dictate your decisions throughout the transaction. Negotiations, inspections, and appraisals can create stress, but you must always retain your composure and act professionally. Expressing negative emotions or making rash decisions can drive buyers away and lower your potential earnings.
Though many of these mistakes are common, you can easily avoid them with help from your listing agent. As quickly as you may want to complete the transaction, selling your home takes time, patience, and a level head. Navigate this process responsibly and reasonably to maximize your profits. 
0 Comments



Leave a Reply.

    See Press for more News!
    ​
    CULTURAL Insider:

    Follow my blog for historic property listings and top cultural picks to celebrate the region!

      Sign Up

    Subscribe to Newsletter

    RSS Feed

    Categories

    All
    Architecture
    Art
    Books
    Events & Celebrations
    Favorite Recipes
    French Quarter Citizen
    Gardens
    Historic Homes & Properties
    History
    Julia Reed
    Maison Chenal
    Natchez
    New Orleans
    Other Listings
    Pontalba
    Southern Cuisine
    South Louisiana


    EMAIL NEWSLETTERS
    Historic Property Listings & Cultural News

    CLICK EACH ISSUE TO DISCOVER MORE

    A Few Issues
    8.2.24
     Open House | A Plantation + A Hotel = Client Success 

    2.20.21
    IT'S CARNIVAL TIME!
    In this Issue: 
    O N E  S O L D! | TWO! UNDER CONTRACT!
    SO MUCH GOOD NEWS!
    PORCH DREAMS REALIZED 
    MUSEUM QUALITY ROOMS
    FABULOUS PARADE PARTY SIPS & NIBBLES
    KING CAKE CHRONICLE RETURNS
    FEATURING BEST KING CAKES EVAH! 
     LOUISIANA SAKE & MORE!

    ​
    12.14.21
    SPREADING HOLIDAY CHEER!
    In this Issue:
    NEW LISTING DETAILS! ● A PREVIEW! ● PHENOMENAL ESTATES ●  SEASONAL RECIPE ●  WED TALK:  HISTORY AROUND THE TABLE ● HOLIDAY EVENTS ● BEST GIFTS ● PAY ATTENTION! ARCHITECTURAL ELEMENTS FOR YOUR  HOME!

    9.3.21
    PRICE IMPROVEMENTS  STELLAR ESTATES
     ONE UNDER CONTRACT
    CULTURAL DISTRACTIONS

    PRICE REDUCTIONS! TOP PROPERTIES!


    8.14.21 
    THREE PRICE REDUCTIONS! 
    ARCHITECTURAL 
    FORAY

     COCKTAIL RECIPE & MORE!


    7.21.21
     SAT OPEN HOUSE ARCHITECTURAL ADVENTURE, EXPLORE THE BLOOMS+


Picture
Sign-up for new listings & my Cultural Insider Blog!
Peter W. Patout,
Historic Property Realtor

1111 Bourbon Street
New Orleans, Louisiana 70116
c: (504) 481-4790
e: [email protected]
Licensed in the State of Louisiana and Mississippi
Talbot Historic Properties
605 Congress Street
New Orleans, Louisiana 70117
o: (504) 415-9730

    Have any Questions? Leave A Note!

Submit
Photos from Mickey JT, Spencer Means, jeremyfoo