Five costly mistakes to avoid when selling your home
It’s not every day you sell a property, and it’s a big event when you do. So, how can you ensure you set yourself up for the best chance of a smooth and stress-free property sale?
Well it comes down to educating yourself in advance, preparing the property well and also avoiding some common mistakes that sellers have the potential to make.
With that in mind, here are six costly mistakes to avoid when it comes to selling your home…
Failing to present your home well
Long before you list your home for sale, you should spend some time ensuring it’s ready to put its best foot forward.
We have a great checklist for this process here, but in brief that involves decluttering, finalising any required repairs or touch-ups and sprucing up the exterior to offer great street appeal.
The reality is good presentation makes a huge difference to prospective buyers and not only helps drum up interest in the property but also ensures it’s more likely to get the price you hope for.
Not understanding the market
Like anything the property market changes over time, so it pays to research that market in advance of listing your home for sale.
Take the time to understand what houses like yours are selling for in your area, along with how much demand there is, and how long they take to sell.
This will help you manage your expectations and will also inform the price you and your agent set for the home.
Meanwhile, it’s also important to understand the costs involved in selling a property, which range from conveyancing fees to agent commission, marketing and more.
Choosing the wrong agent
Make no mistake, the real estate agent you select to represent your property is critical to a successful sale.
The right agent will be experienced, a good negotiator, will know the local property market and will be someone you feel you can work with.
Do take the time to research agents in your area, and carefully select the one who you want representing your asset.
Setting an unrealistic price
How you price your property is one of the most important decisions you will make in the selling process.
Set it too high and you could deter buyers from the outset. Set it too low and you won’t realise the return on your property that you should.
That’s why it pays to research the market in advance and liaise carefully with your agent about the price they genuinely believe it will achieve.
Not investing in marketing
When it comes to selling your home, marketing is a necessary expense and it’s not a place to cut corners.
Good marketing helps position your property in front of the right type of prospective buyer. It also shows your property in the best light.
Together, this creates interest in your home, which then translates to people inspecting it in person and putting forward offers.
How we can help
If you’re considering buying or selling a property, why not chat with one of our friendly agents on 1300 438 439 to understand the state of play in your local market?
We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.
