Fundamentals of House Sales: Mistakes to Avoid as a Home Seller
Selling your home can be one of the most stressful undertakings of your life as it is likely to have been by far the biggest investment you will ever make and there are many pitfalls and opportunities for things to go wrong. Not only do you have to think about the sales side of things, but you need to coordinate your onward move which can leave you at the mercy of others.
You will have to get used to people invading your home whilst at the same time worrying about surveyors, removal experts, and estate agents. To make your move as peaceful as possible, it is important to enlist the services of a professional when you can, so that you can concentrate on the nitty-gritty and can avoid mistakes.
Here we will take a look at the main mistakes to avoid when selling your home.
Not Hiring an Agent
It is often very tempting to think that you could save 2-3% by marketing your property yourself when you see the commission that most estate agents charge. But is this wise?
Agents have a role in the property market for a reason; they are experts on the market. They know the value of your property better than you do, they know how to negotiate with potential buyers and most importantly of all, they will coordinate the sales process between you, your buyer and, if necessary, your onwards purchase, allowing you to concentrate on the details that matter to you such as finding new schools for the kids, or packing so that nothing gets damaged.
Ignoring All the Sales Possibilities
Some of us get to wrapped up in the idea that we must use an agent to sell our property when we need to sell it immediately. However, they aren’t necessarily the only people to drive a quick sale. There are plenty of other options out there from selling via auction to holding a raffle and selling individual tickets.
When looking for ideas, a good solution is to visit the website that professionals use when they are looking for a quick sale, as there are investment companies that are willing to tie up a purchase of the right home within a week. Assess your options before putting your property on the market, make sure you understand what you are looking to achieve first, and then go and get it.
Setting an Unrealistic Price
Of course, we want to maximize the sales value of our property, but this should not be done through greed. There is no point putting your house on the market at a vastly inflated price so that you end up sitting there twiddling your thumbs as you have no views.
A property should be priced to sell so that there are views and you can then negotiate and play the potential buyers against each other. Your estate agent will know this price, so listen to them, it is their job. If you are not using one, then there are plenty of comparison sites where you can see real-life prices.
Selling During Winter
Often people are desperate to sell their homes so they don’t think about things such as the time of year it is. Sure, it may be unavoidable to market in December, but if you can, it really makes much more sense to wait until spring. Nobody is looking for a property during the holiday period as they have better things to be doing and the weather makes it unappealing.
Furthermore, it doesn’t look great if your property has been sitting on the market for 6 months as potential buyers may be asking themselves why it hasn’t sold. So, wait until the birds are singing and the flowers are out and you will likely sell your property much quicker and for a better price.
As we have learned, selling your home isn’t easy. In fact, it can be one of the most difficult and stressful times of your life due to the uncertainties involved, and the fact that you are trying to drive a hard bargain.
You need to make sure that you set a sensible asking price otherwise potential buyers will be put off and estate agents will become annoyed as their hard work won’t end up with a sale. Also, investigate your sales options well in advance as there are many different methods, especially if you want to cut down the commission you pay or if you are looking for a fast sale.
Timing is often a crucial factor as nobody wants to buy in the dark and dingy winter months, instead, they are full of yuletide cheer, so wait until daylight and good moods reappear in the springtime if you want to maximize your sales possibilities.