Selling a home is a huge process with a lot of moving parts. Naturally, it’s easy to become overwhelmed with all the complicated steps and things to remember. It’s therefore important to avoid common mistakes that could potentially lead to a lower sale price, delays and even failure to sell the property. To help navigate this process, we’ve compiled a list of common mistakes to avoid in order to maximise the chance of a successful sale.
It’s understandable that you would want to list your home sale price for as high as possible. However, an unrealistic asking price can potentially scare off buyers and deter interested candidates in even placing an offer in the first place. How you price is dependent on factors such as the location and type of the property as well as its demand. Working with the right real estate agent can help you determine a competitive and fair price for your home.
First impressions are essential and can be the difference between someone attending an inspection or not. It’s therefore wise to invest in some outside touch ups including a fresh coat of paint, landscaping and outdoor cleaning. This can make an enormous difference by giving the perception that the property is well kept and taken care of, transforming the overall atmosphere of the property.
Failing to disclose important information about your property can lead to a mound of legal, financial and reputation-related issues. This information can range from things such as property work that has not been council approved or whether someone has passed away in the home. By being upfront and transparent about such issues, trust can be built with potential buyers, increasing the likelihood of selling your home.
Having a good marketing campaign is a crucial step in selling any home. This allows you to show off the best features of your home and also create a sense of urgency among buyers. Neglecting this can limit your ability to attract candidates and connect with the right buyer.
Your chosen agent will give recommendations around what marketing approach would be best for your property and the market you’re selling in. Your agent may advise you to invest in things like professional photography, video tours, and online advertising to showcase your home and appeal to more people.
Depending on your property type and its location, staging your home can have a big impact on how potential buyers perceive it. Especially if you are selling in a competitive market with lower buyer demand.
A property that has been expertly arranged can make it easier for buyers to envision living there and create a warm and inviting atmosphere. It also has the ability of highlighting your home’s best features. Consider working with a professional stager or ask your real estate agent who they would recommend.
Having little flexibility with showings can hinder the sale of your house, particularly if prospective buyers have demanding schedules or are travelling long distances to inspect the home. It’s important to work with a real estate agent to develop a showing plan that meets the requirements of potential buyers while being reasonable for you as well.
At a minimum, once your property has hit the market, expect to have a showing every Saturday until auction day, or until your home is sold. There will potentially be buyers who can’t attend your scheduled open homes, so you’ll need to be flexible to allow them to view the property outside of these times.
When selling your home, there are an array of costs to consider including conveyancing fees, agent/commission fees, auction fees (if chosen as the selling method) and so forth. It can become even more complicated when these costs begin to vary depending on factors such as where your property is situated and the type of property. It’s essential to budget carefully; if you’re not sure what the common costs of selling might be, a cost of selling a property calculator may help.
Selling your house doesn’t have to be as scary as it seems. By avoiding these common mistakes, you can create a smoother selling process and ultimately increase your chances of a successful sale.
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Disclaimer: Doorsteps Finance Pty Ltd ACN 648 541 879 (credit representative no.531036) is authorised under Doorsteps Solutions Pty Ltd ACN 654 334 246, Australian Credit Licence 537369. Doorsteps Solutions Pty Ltd ABN 60 654 334 246 and Doorsteps Finance Pty Ltd ABN 27 648 541 879 are not making any suggestion or recommendation about any particular product or service. The information provided constitutes information which is general in nature and has not taken into account any of your personal objectives, financial situation, or needs.