If You Want to Sell Your Home Quickly and for the Best Price Follow These Tips
It’s every vendor’s goal to sell their home quickly and for the best price, but sometimes a vendor’s eagerness to sell their home can lead them to make costly mistakes. To help you avoid some of the same mistakes other vendors have made in the past, we’ve compiled a list of 5 of the most common mistakes that new and over-eager vendors sometimes make, and how you can avoid making them yourself.
- Appointing the wrong agent. Don’t hire an agent just because they have the lowest fees and commissions or because they quote you the highest sales price for your home. Both are indicators that the agent may be acting in their own best interests rather than yours. Select an agent based on their local area knowledge, previous sales record, and the approach that best suits your circumstances.
- Overpricing your property. It’s true that there’s a well-worn cliche that runs along the lines that you should always price something higher to give yourself room to negotiate down to the price you really want. Yes there may be certain instances when this will work, but it’s not in real estate. A property that is overpriced will spend more time on the market and draw fewer interested buyers to your inspections than one priced more accurately. The longer your property sits on the market, the greater the message it sends that the property is overpriced which further deters prospective buyers. A good sales agent will use their extensive market knowledge, along with their experience selling in your local area, to price your property appropriately, whether auction or private treaty.
- Not preparing your home for sale. This may seem fairly obvious, but it’s still oft overlooked. Clear your home of any clutter that buyers may find uninviting. Prospective buyers always imagine themselves living in your home, and that’s hard to do if every spare corner features photos of the kids, or there are boxes around from where you’ve already started packing up. This can be particularly problematic for vendors selling a home that’s currently tenanted, which is why I’ve written about how to sell a property when it’s occupied by tenants.
- Ignoring repairs. This follows on from the previous point — and it’s equally important. If your intention is to sell a fixer-upper to people at a fixer-upper price, then market your home that way. If that is not your intention and you’re marketing your home as one that people can buy and move straight into, then you will need to fix any of those maintenance issues that require attention. This includes broken balustrades, dodgy pipes and broken roof tiles.
To learn more about selling property in Australia, subscribe to receive access to our free guide called, Selling Your Property: What You Really Need to Know. Alternatively, for more property news, insights and analysis, continue reading our blog.
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Our educational blogs are designed to help you understand each of the steps involved in selling your property so whether you choose to work with a real estate agent or do it yourself you'll understand the work involved and be more efficient and aware of what you need to do. Our articles have been seen in these major online news and information portals..
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