Seller SinsHere are three sins of home sales that can negatively impact on the ease of the sale and the size of the cheque you end up receiving.
Selling your home can be a demanding process, and often sellers focus on one area of improvement, rather than a broad-based approach. Informed sellers talk to their agents, and work together to come up with the best strategy – from marketing tactics, to home improvements, presentation and sale price.
The Price isn’t Right
Putting a dollar value on your house can be a difficult prospect – particularly when your home contains so many happy memories. Sellers can also fall into the trap of expecting what the price ‘should’ be – that is, providing a significant return on the original purchase price. While property prices have remained relatively stable over several years, there have been some major fluctuations in some areas and you need to keep a realistic eye on what the market is prepared to offer.
The market is aggressively competitive and pricing your home appropriately will result in a quick and satisfactory sale. If you choose to hold out for more, it is worth spending a bit of time calculating the increased costs associated with this – such as advertising, agent fees, cost of your mortgage and the inconvenience of cleaning up every Saturday morning for inspection.
A Picture Tells a Thousand Words
Ensuring good photos to promote your home is a key part of the sales process, with buyers often researching online before putting in the legwork to attend an open for inspection.
Make sure the photographs taken of your home are enticing to buyers – clutter and signs of your everyday life, like cutting boards and dishcloths on the kitchen bench, used and tired linen, reflections in mirrors and dirty windows or flash glare from the windows will distract buyers from seeing the positive aspects of your home.
Work that bit harder to attract buyers, and you will drive up competition for your sale.
Unless your buyer is a builder or a seasoned investor, they are unlikely to be able to walk into a home with cracked ceilings and damaged floorboards, and have any idea how much repairs would cost. Make it easy for your buyers – present your house as “ready to move in”, to take away the guesswork and reduce the likelihood of buyers walking away.
Investing in repairs, maintenance and even inspection reports may cost you money in the short-term, but it means you won’t make it to the eleventh hour of negotiations and then lose a buyer you’ve spent valuable time courting.