So, you need to sell your house and you need to do it quick.
Perhaps you have found the perfect home for your growing family in a neighbouring suburb, or maybe you’re making a big move to another city. Whatever the reason, don’t panic.
Below are the five biggest mistakes struggling homeowners make when selling their home, and we’ll show you some foolproof home-selling tactics that will get your home sold faster.
1. Property Presentation
The presentation of your home is the important difference between what price you will get in the sale. Firstly start at the front gate and walk in as a Buyer, does your home have street appeal? Can you spend half a day tidying up the front gardens? Then start to walk through the home, is it clutter free throughout? Sometimes buyers have a hard time to imagine it any different other than clutter and the minimal that is around the larger the home is perceived. Depersonalise your home. As well as giving the kitchen and bathroom an extra scrub as these are the biggest decider areas for other families to fall in love with.
2. Price it Right
The single most important factor to consider when selling a house is the home price tag: how much your house is worth. You don’t want to overprice the house because you will lose the freshness of the home’s appeal after the first two to three weeks of showings. After 21 days, demand and interest decline.
A great way to make sure you are putting the right price on your home is to do your own research and to step into the Buyers shoes and look at similar homes in their perspective. With the internet these days you can do this easily, look around your suburb for similar homes that have Sold within the last three months. Some agents have great tools for owners to keep in touch with what is happening with prices in the market, for example the Ray White Quarterly Suburb Market Review. When researching a good indication of a wrongly priced home is it has been sitting on the market for more than 60 days with no change.
3. Marketing of your Property
A wise old man once said: “Trying to sell something without advertising is like trying to wink at someone in the dark: you know what you’re doing, but no-one else does.”
This principal is very true when it comes to selling real estate .To achieve the best result, you must expose your property to as many buyers as possible. The greater the competition, the better the result!
Recommended Property Marketing minimum:
Internet real estate websites (Highlight listings are great as your home can sometimes be lost in a sea of homes for sale)
Newspaper advertising with eye catching advertisement and Open For Inspection times
4. Not taking the first quick bid. This happens time and time again.
The seller gets an offer early on in the marketing and they are suddenly filled with confidence, naturally assuming there are bigger offers to be had, so they decline the offer and keep marketing their home, and another offer does not come.
Time and time again we see the owner declining the first offer and then another two months later accepting an offer for $20,000 less than the first. In a lot of circumstances the Buyer is more informed of the pricing of homes as they have been looking and comparing for the last few months. When an offer is presented, you need to think about your options and seek advice from your trusted agent.
5. Picking the right Agent to sell your home
Unless you already know a trusted agent you want to engage with, sometimes picking the right agent to sell your home can be daunting. Throughout selling your home you will have to listen to your agent’s advice and need to feel comfortable with them to do this, not by choosing the agent with the highest price appraisal.
Research the Agent:
All agents should have testimonials; this is a great way to look at how others have found their experience with the agent.
Look at their website and web presence, all agents should be found on the internet, if not you may have to question if their technology marketing is being left behind as well.
Look at their newspaper marketing, is it eye catching? Or does it get lost amongst the others?
Does the agent seem informed of the current real estate market?
Questions to ask the Agent:
How long have you been a real estate professional?
Is real estate your full-time career?
How many clients have you served and may I review your client list?
Have you sold any homes in my area?
What is the average market time for your listings?
How often will we be in contact after we sign the listing agreement?