Selling a property takes much more than just putting a listing online and setting a price. In order to enjoy a quick sale and to maximise the property’s value you need to ensure everything is prepared correctly. To avoid some of the mistakes that home sellers make, we cover some of the most common pitfalls.
1. Miscalculating costs
Just like buying a home, there are also costs involved with selling a property. The largest incurred is likely to be the agent commissions, which is why it is important to use a reputable agent that offers competitive fees and a high level of service. When you are selling your home, costs could rise to as much as 15% of the sale price – aside from the agent commissions you may have to make some home improvements, factor in closing costs and also fees for moving to your new home.
2. Selling without professional support
The internet gives us a lot of options and the chance to connect with a larger audience of people very quickly. This can make selling your home without the help of a professional agent seem appealing, but you will likely not be able to maximise the property’s full value by going down this route. Experienced agents who know the area and current market trends will understand the full potential of your home and what people are likely to pay for it. Selling it yourself will mean you don’t have to pay agent fees, but at the same time the sale price will also be a lot lower.
3. Not carrying out necessary repairs
If your home is in need of repairs – be it minor plastering, replacing doors/windows etc. – this is not something that should be ignored or hidden as you try to sell the property. Buyers – especially those who have seen a few houses – will be on the look out for any issues and if any major issues come up during a home inspection it could delay things or cause bigger problems. It is better to fix the problems once you are aware of them to avoid any unneeded stress later down the line.
4. Poor marketing
The way you present your property is key to attracting serious buyers who could meet your asking price. That’s why it’s important to use high quality photos that show your home in the best possible light. Estate agents will use a professional photographer to ensure your property looks light and spacious, giving prospective buyers a clear idea of each room and enticing them to make viewing enquiries.
5. Overlooking property staging
First impressions count and in a competitive market you need to ensure that when a buyer walks into your home it has an instant impact. Staging can significantly improve your chances of selling your home quickly and for a good price. It’s something that an experienced estate agent will be able to help you organise, so you can make the most of the enquiries. Buyers want to imagine the place as a home they could live in and staging plays a key part in achieving that.