Selling your home is a big decision and for most of us, a stressful time, and the sooner the sold sign can go up, the better.
However, sometimes a house may stay on the market for months without generating much buyer interest. This is usually due to one or more common mistakes that people make when trying to sell their property.
Incorrect pricing
Putting your home on the market with a price that is set too high initially will deter buyers. If you then reduce the price over time (vendor discounting) all that you may achieve is to attract the notice of those buyers looking for a bargain price, who are ready and willing to negotiate you down even further or walk away.
Do your research to determine the appropriate market price for your property. Review property ads for properties being marketed in your area, and also websites for auction and sales results, and lists of recent sales from agents. You could also opt to pay for a report or hire an independent registered valuer to provide you with a professional estimation of the value of your property. Get out and visit properties for sale in your area to get an idea of how your property compares to the market.
Not using an agent
Trying to sell your own home in order to save agent’s fees and other expenses is often akin to shooting yourself in the foot. Not having access to the research, advice and opinion of a professional to maximise the sales potential of your home could cost dearly in terms of profit realised.
Using the wrong agent
It is important to find an agent that you can trust. Ask a potential agent for contact details of other sellers that he is representing. Talk to them and find out whether the agent treats them and their potential buyers courteously. Ask about the agent’s negotiation skills – will he negotiate hard for the best price for your home?
Mystery shopping is a great way to check out an agent – call to view other properties that the agent is representing, and rate the experience first hand.
Signing up for too long
If you sign up for a long period of time and you find that you are unhappy with the service provided – you will be stuck. Try 30 days to start with – you can always extend if you are happy
Paying fees in advance
You should not be required to pay any fee upfront – and do not sign anything which requires you to pay any money if your home is not sold.
Only pay the fees after your home has been sold and you have received the price and the service that you were promised.
Not properly preparing the property
There are a few simple and not very costly things that you can do to ensure that your home is presented in the best light possible – not doing this may mean that your home sits on the market for an overly long time.
De-clutter, clean and remove any pet smells and pet bedding.
Ensure that your garden is tidy and well-trimmed with weed-free, well turned beds.
Attend to basic maintenance – go round your home and identify all of those basic maintenance jobs that need to be done. Leaking toilets, taps, grubby walls needing a coat of paint, loose handles on doors or cupboards and so on. Attend to worn/marked carpets and refresh any dirty grout in tiled areas.
