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Selling your home can be complex, and even small mistakes can cost you time and money. Here are the top mistakes to avoid to ensure a successful sale.
Overpricing Your Home
Research the MarketMany sellers overestimate the value of their home. Researching the local market and getting professional valuations can help set a realistic price.
Consequences of OverpricingAn overpriced home can sit on the market for too long, leading to price reductions and potentially lower final offers. Even if you don’t go down the price reduction route, the data shows that properties that stay on the market achieve lower prices than those priced correctly in the first instance. One analogy is like a loaf of bread in a bakery, the longer it’s there, the more stale it becomes and therefore, less desirable. The same happens with property.
Poor Home Presentation
Neglecting RepairsIgnoring necessary repairs can deter buyers. Fixing minor issues beforehand can prevent them from becoming deal-breakers. It also prevents people from becoming suspicious. When they notice little details aren’t cared for, it often casts doubt on if the big things are in order too.
Cluttered SpacesA cluttered home appears smaller and less inviting. Declutter and clean thoroughly before viewings. This also helps you get a head start on packing, as well depersonalising the property so people can imagine their stuff in situ as they’re looking around.
Inadequate Marketing
Low-Quality PhotosFirst impressions matter. Choose an agent that provides the highest standard photography to showcase your home at its best.
Limited Online PresenceEnsure your property is listed on major property websites and promoted on social media to reach a wider audience.
Being Inflexible with Viewings
Limited AvailabilityBe as flexible as possible with viewing times. Restricting access can lead to missed opportunities.
Unprepared for ViewingsMake sure your home is always clean and presentable, even at short notice. Pretty baskets can be a quick way to hide the daily detritus that builds up.
Poor Negotiation Skills
Emotional DecisionsSelling a home can be emotional, but it’s important to remain objective during negotiations. Listen to your agent’s advice and consider offers carefully. Often, the buyer’s position is more important than the figure itself. It’s better to have 100% of something than 0% of nothing.
Rejecting Early OffersSometimes the first offer is the best one. Don’t dismiss early offers without consideration, especially if they’re close to your asking price.
Not Hiring Professionals
Skimping on Legal HelpA good solicitor is crucial for handling the legal aspects of the sale. Don’t choose the cheapest option without considering their reputation and expertise. Your agent knows the market and deals with these people all day, every day. They’ll be able to help steer you in the right direction for your property and your circumstances.
Avoiding these common mistakes can help you sell your home more quickly and for a better price. Preparation, realistic pricing, and professional help are key to a successful sale.
