The Top Property Selling Mistakes are summarised below:
As a Seller You Must Learn to read the market!
A fundamental question that you need to ask yourself is, what cycle of the market are we in? In a falling market, you price your property to the market. If you don’t, you will continue to chase the market down, reducing your ultimate goal of achieving the highest price. You should remember that if you are selling and buying a property in the same market then you will not lose out.
Selling your house can be hard, it is hard, but it can be made easier. Finding a good real estate agent to work with, organising a new home to move into and deciding on the right price are just a few of the difficulties you may face. We’ve put together a few house selling tips to help you avoid the biggest mistakes and sell your home as easily as possible.
Market Types
Falling Market:In a falling market you price your property to the market. If you don’t, you will continue to chase the market down, reducing your ultimate goal of achieving the highest price. In a falling market you need to be able to respond quickly to the market.
Rising Market – In a rising market you can build some fat into your price and if you are patient the market will catch up to your price. The entire market will also rise making the home you want to buy more expensive.
Overpricing – Pricing your property too high reduces the number of prospective buyers, and may sit on the market for longer. As a result, overpriced properties tend to sell for less than they would have if they ‘d been more appropriately priced to begin with. As always, do your research and ask at least two agents for an appraisal.
We’ve put together a few house selling tips to help you achieve the best price and to avoid some of the biggest mistakes and sell your home as easily as possible.
Choosing a real estate agent to sell your house can be a huge help, but only if you find the right one. Most buyers want a home they can move into immediately, not a place to fix up, so getting your house ready to sell is important. Unless you’re an expert, selling your house on your own can be even worse than hiring the wrong agent. Trying to sell the house yourself generally takes longer and nets you a much lower price than if you went with an agent.
Selling it yourself
Unless you’re an expert, you can sell your own home, but selling your house on your own can be even worse than hiring the wrong agent. If you went with an agent, trying to sell the house yourself generally takes longer and nets you a much lower price than. Your home also won’t appear on major sites such as realestate.com.au that only accept listings from agents (unless you pay a 3rd party to list it for you), making your property less searchable to buyers.
Finding the right agent
When selling your house, finding a real estate agent that understands your home and can sell it well is the best thing you can do. The best agent i often not the agent that sells the most in your area. A quote from a top agent (not in this area) said “if a area is dominated by one or two particular agents or agencies and when you look at the values within the area, you will see that it seems to be consistently under-performing compared to surrounding suburbs“. The best agent is the one that will get you the Best price not the quick sale. The right agent will help you set a good price, market your property, pursue strong leads, negotiate for the best deal and help you avoid other problems.
Contact us today if you ‘d like to speak with one of our expert agents about selling your house for the best price and possibly a better price than surrounding properties.
Leaving maintenance issues
Most buyers want a home they can move into immediately, not a place to fix up, so getting your house ready to sell is important. Fix anything that is broken or damaged, anything that creates worry or concern in a buyers mind. Make sure your home is well-maintained and clean both inside and out to make a good impression. Tidier rooms also look more spacious to buyers, so remove as much clutter as you can. Hire a storage area locally if you can. the cost will easily be covered by the increased sale price.
Hiring the wrong agent
Choosing a real estate agent to sell your house can be a huge help, but only if you find the right one. The wrong agent may be unprofessional, over worked (too many listings to focus on yours) or inexperienced, more concerned with making a quick sale than a good one. A quick question to ask is have they brought and sold property, many agents have not brought and sold one property.
No backup plan
If you need to sell your old home to pay for your new one, you’re relying on a lot of things to go. You need to have a backup plan and some emergency money to cover any unexpected expenses, in case your buying date and selling dates don’t quite match up.
In a flat market with little price movement your first offer is usually your best. This can be unnerving as you may ask yourself “is there anyone who will pay more”? If you don’t take that first offer, you may regret your decision! However as i have seen a first offer from someone that missed out on a 15% dearer property up the road may be undervaluing your home.
There is no harm in taking it slow… Houses don’t sell in a day, and unless your specific situation requires a quick sale, you can afford to take your time. It’s best to do your research, find the right agent to help you and then accept your best offer rather than just your first one. However thee are some buyers that have been looking for a while and may just jump in quickly to get the house before they lose another one!
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