Selling your home is one of the biggest deals you may be doing. As a seller, you aim to sell a home at the best possible selling price. However, this process can be very frustrating. Any mistake will deeply impact your financial goals. To make your that your selling experience is stress-free, here’s is the list of most common mistakes which you should be aware of:
1. Trying to sell a home at wrong time:
Hitting the market at the right time is very important. Before selling a house, check the market condition. When demand is low, it is difficult to sell the house at desired price. Also, consider the interest rates; lower interest rates will create higher demand in the market.
Real Estate market observes rise and fall throughout the year. Generally, the spring season observes a lot of demand in the market whereas winter typically sees lower demand. Selling the property in the wrong season will result in the prolonged sitting of your property in the market, which eventually will reduce the price of your house.
2. To hire or not to hire an agent?
If you are confused regarding whether to hire an agent or not, then try to answer the following questions:
- Do you have experience in selling homes?
- Do you have proper knowledge of market trends?
- Do you have a good network for advertising your house?
If the answer to the above question is no, then selling a house can be very time-consuming and frustrating process. It is better to hire an agent.
A good agent will be well knowledgeable about the market trend. They can actively promote your property through their good network. Generally, hiring an agent will reduce your time for selling the property.
To find the most appropriate estate agent, visit: Find an Estate Agent on Property24, South Africa’s leading Property Website
3. Setting an unrealistic price:
One of the main reasons some properties take longer to sell is because they are overpriced. Setting an unrealistic price will reduce the number of potential buyers. Please note that longer the property sits on the market, lower the price they achieve. As buyers are equally knowledgeable, it is advisable to set a price that avoids unnecessary bargaining.
Tip: To set the most appropriate price, compare the price of the property sold recently in your area. Also, take the opinion of your agent.
4. Unprofessional photography:
Photography that you have attached to your listing will form the first impression in the mind of buyers. Poor photography may result in losing the interest of potential buyers.
Some of the points to be kept in mind, while taking pictures:
- Too dark pictures will not capture the attractive features of the house. Before taking a picture, make sure that all lights are on and the room is well-lighted.
- A decluttered house is another major turnoff for the buyers. The home that you want to show in house viewing is the house that you should show in the pictures.
- Try to take good number of pictures. Make sure that all the important features of your home are correctly presented.
Tip: It is always advisable to hire a professional photographer, who can highlight all the important features of your house.
5. Neglecting the house repairs:
Sometimes, you may find it expensive to take on major or minor repair works, but it will increase the chance of selling your home at the best possible selling price. Even a small fault can work against you. It can give the impression to the potential buyers that the house is not in good condition and other things may also be wrong.
Before listing your home for sell,
- Try to fix all the major or minor cracks.
- Replace or fix the doors and windows.
- Make sure that all the high-end appliances are in working condition.
- Consider applying a fresh coat to your wall.
Also, if there are any other faults in the house, don’t try to hide it. To avoid the end disputes, make sure that the buyer is well aware of the condition of your house. To calculate the home repair cost, visit: Residential Build Cost Calculator
Now that you are aware of some common mistakes, now you can be even more assured that your home selling process is going to be smooth and painless.