The sales process can be a roller coaster ride and things can go wrong.If you are about to place your property on the market, to limit your financial and emotional stress, here are some mistakes you may want to avoid.

1. Not hiring a professional to sell your home

Why would a seller want to tackle the complex nature of the property market alone? Just to save on commission and fees, more often than not.  This could be a false economy. An experienced Real Estate Agent has the time, knowledge and experience to do the job properly.  They have a thorough understanding of the local area and stand a greater chance of achieving a premium for the home.  The extra value the right Real Estate Agent can negotiate from a sale will often outweigh any money that may be saved if a Vendor goes it alone.

2. Choosing the WRONG agent

Too many sellers simply opt for firstly, the cheapest Agent, or secondly, the one who promises the highest sale price.  In the first instance, these Agents are often only chasing a quick sale and may not fight for the best price for the Vendor and in the second instance, these Agents are giving the seller bad pricing advice because they are commonly desperate for listings.  Take the time to research local Agents and interview them.  A Vendor needs to make sure they can trust the Agent and feel comfortable working with them after all they will be guiding them through, what could be, a stressful sales process.

3. Overvaluing their home

Rule Number 1 – A Vendor needs to remember that selling their home is a business transaction! It is imperative they leave their emotions out of the equation.

It is natural that a homeowner wants to achieve the highest sale price possible but establishing the selling price needs to come about from rational, concrete research. Setting an unrealistically high price will only alienate potential buyers. Pricing a property is not an exact science but some of the factors needed to be considered are: what similar houses 

in the area have sold for, location of the property, the condition it’s in, and the economic and market conditions.  Ask for an appraisal from the local Real Estate Agents.  They should have expert knowledge regarding what properties similar to the Vendors have sold for.  If there is a huge discrepancy in the appraisals between the Real Estate Agents, be careful and ask for evidence about how they came to that selling price.  A seller needs to use their head and not their heart in this instance.

4. Not preparing the home for Inspections

Think fresh, clean, no clutter and street appeal.  Less is more when selling a home, so create space, depersonalise, take care of any repair or maintenance issues and make sure the outside looks great too so people actually come in rather than just drive on by because they are put off from the messy exterior.  Potential buyers usually have several homes on their list they are interested in therefore for a seller’s home to stand out, it is vital that it is spotless, smells fresh and looks well maintained.  If a Vendor doesn’t ‘stage’ their home, they could be throwing money down the drain. 

5. Not having a backup plan

A Vendor needs a back-up plan in case their home takes longer or shorter than expected to sell, otherwise they may be in for all kinds of expenses such as storage costs and bridging finance if they end up owning two properties at the same time.

If the old home sells faster than was planned, the seller could face the stress of having no place to live while they look for a new home. If the Vendor has already bought a new home, they may feel pressured to accept a lower offer as their new home settlement date gets closer.

Always have a backup plan in case either of these situations occur, and have some emergency money stashed away as a ‘just in case’.

Real estate agents are experienced and trained in their field. Selling property is a complex process, and they’ve been through it all many times before.

Our Sales Consultants at One Agency Robert Mure will help Vendors set a realistic price for their property, advise them on the best way to sell it, develop a professional marketing campaign and negotiate on their behalf to help them get the very best price. Our Agents experience and knowledge will help sellers avoid the above and many other big mistakes that can be made before, during and after the selling process. Contact us today for qualified and skilled advice.

                              email: kooweerup@oneagency.com.au                    web: oneagencykooweerup.com.au

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