6 Things Not to Do When Selling Your Home
6 Things Not to Do When Selling Your Home
Selling your home can be an emotional and time-consuming process, especially if you have never done it before. With no experience and a complex, emotional transaction on your hands, it’s easy for first time home-sellers to make plenty of mistakes. However, with a little know-how, you can avoid these pitfalls. We summarised 6 key points for you to consider before selling your property.
Don’t skimp on marketing costs
Buying and selling property is never cheap but tightening your purse strings on marketing may not be the best option. It’s hard to overstate the importance of a good marketing campaign. If a property doesn’t have that ‘wow’ factor, you could have problems getting buyers to the open home. It’s much better to pay $1000 for marketing than lose tens of thousands on the sale price because you didn’t expose the property correctly. After all, a house for sale is no good without the right buyers viewing it. You can read more about the value of a real estate marketing campaign here.
Don’t choose the cheapest real estate agent
Don’t make the mistake of choosing an agent just because they are cheapest. Your selection should be based on careful consideration of a number of key criteria, you can find out more about how to choose the right real estate agent for you here.
Don’t leave personal items on show
When the buyers are inspecting your property, they are envisaging themselves living in this space. You don’t want them to be distracted by photos of the family on every bench, piles of papers on the desk or other personal items scattered throughout the property. You want to make your home inviting, but not overwhelm the buyers with the message that ‘this is my home’. Plus, clutter throughout the house should be minimised to create a clean, functional flow for the buyers. Want to learn more about the importance of styling and staging your home to sell? Download our free eBook here.
Don’t ignore major repairs
It’s important to fix any major repairs. Buyers who are considering put in an offer may be put off if there are further expenses to put into the property. A building and pest inspection will report on any repairs, which may turn the table on negotiations. It’s important that you walk through your property with a fresh set of eyes and note any damage or repairs that need to be done. Fixing these issues now may be a small investment that will be beneficial for the overall sale price of your property.
Don’t only consider the highest offer
The highest offer can be exciting but may not be the best offer for your needs. It’s common to have terms or conditions that must be satisfied for the sale to close. It’s important to take these contingencies into consideration because they can impact the timeline of the sale, the certainty of the sale and the complexity.
For example, you may receive a high offer on your property that is subject to the buyers selling their property for a predetermined price. You should consider the added duration and uncertainty that this presents, compared to a slightly lower offer that is more secure.
Don’t set an unrealistic price
The price that you want the price that the buyers are willing to pay can be two very different things. Given the rise in house sales over the last two years due to the pandemic, it can be tempting to have high expectations for the sale price of your property. For the vendor, it’s important to hit the sweet spot between asking too much or too little. If you’re asking too much, you may risk leaving your home on the market for a longer period of time, which may have consequences. Your real estate agent will have a good idea for how much your property is worth in the current market.
Are you interested to see how much your property is worth? Book a free appraisal and one of the team will be in touch.
Completing your House Sale with Universal Property
Whether you are preparing to sell or looking for more information, Universal Property is here to assist you in your sales journey. We offer you a superior and personalised service that helps make the selling process as smooth as possible.
Contact Jesse on +61 431 761 644 or email us at info@universalproperty.com.au
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