As a homeowner you will have had to deal with many different challenges and opportunities. Whether that has included a renovation, decorating, expanding the property or leaving your property in the hands of housesitters for extended periods. One of the challenges that can be fraught with issues is selling a home for the first time. Here is an article that summarises the 4 main mistakes to avoid in order to ensure a safe and secure sale.
Selling a home for the first time? These are the mistakes to avoid
Selling property can be a long and emotional process, especially if you’ve never done it before. It is important to take every step you can to get your house ready to sell.
Patrons and interested buyers will enter your home, scrutinize your space, and rummage about, which may sometimes feel like an invasion of privacy. They will criticize and critique the space that represents a lot to you and offer you less money than your homes’ worth.
With no expertise, it’s easy to make many blunders, especially if your property isn’t one of the new homes for sale. Many of these issues can be avoided with a bit of knowledge. This article discusses mistakes to avoid selling your house for the best possible price in a reasonable length of time.
1. Failing to plan out your mode of sale
The first step is to figure out how you’ll sell your home. You can sell your home through a traditional estate agent, an online estate agent, on your own, or through a quick-sale service. It is entirely up to you and the circumstances you choose to path. If you decide to use an estate agent, you must trust the agent you are working with. Choose one with a strong reputation and good reviews. Because the process of selling your home can be lengthy and drawn out, you’ll want to work with an agent you get along with.
2. Set an inaccurate asking price
Setting the correct asking price is critical whether you deal with an agency or sell it alone. Buyers will do comparative market research for your home, so you should be one step ahead of them as a seller. In the absence of a property market, overpriced homes rarely sell. According to research, 70% of real estate brokers believe that sellers make overpricing is the most common mistake. Don’t worry about setting a low price because, in theory, multiple bids will drive the price to rise to the home’s actual market value. An excellent way to attract more attention to your listing is by under-pricing your home.
3. Hiding property flaws
Do you really believe you can get away with concealing severe property issues? During the buyer’s examination, all flaws will be discovered. There will be a chartered surveyor who will likely uncover whatever it is you were trying to hide. To cope with any problems, you have three options:
- You will want to remedy the situation before listing the property. Fix the issue if you can before putting the house up for sale.
- Price it below market value to account for it, or record it at market value and give the buyer credit to fix the problem. Remember: If you don’t address the issue ahead of time, you risk alienating many purchasers looking for a turnkey home.
- Having your home checked for yourself before the listing is a good idea. It will help to prevent costly surprises once it is under contract.
4. Ignoring your home’s online listing review
It is essential to examine your home’s listing on various websites. This will help you to ensure that the information provided is correct. Agents do their utmost to ensure accuracy, but you are the homeowner.
A final thought on selling your property
As the one who owns the property and perhaps has lived in it you are the expert on the details. If you see a missing feature, contact your agent right away and request that it be added.
FURTHER READING ON REAL ESTATE AND SELLING PROPERTY
At Housesitmatch.com we like to offer useful and practical articles on topics for our readers. In this selection we offer you a number of suitable pieces from our own blog on renovating and decorating a home.