Costa Rican Garden

Mistakes sellers make. How to avoid them.

Don’t go into the process blind

Selling your home is stressful, even at the best of times, but going into the process blind can be a huge mistake. Here are a few tips that will give you some understanding about the selling process and how you can make it a success.

Have a strategy

We’ve mentioned this before on the blog and it’s our number one tip in a lot of cases – the best tool you can have is a plan. You should have a clear idea of why you’re selling, what you’re hoping to achieve by selling and what the end result will be. It’s important to be pro-active and plan out some deadlines and goals so you can stay on track. Going into the selling process 100% committed is the only way to have a successful outcome.

 

Check your asking price

Asking price is always an emotional topic. Most sellers have poured a lot of time, and money, into creating a home and trying to put a value on that can be very hard. If you find yourself in this position, take a step back and look at the situation objectively.

The key to setting a fair asking price is to do some research. Get some appraisals done by different agents, go to open houses for properties of a similar style, have a look online or in the local paper to find out what other homes are selling for (you can also find out what properties sold for at realestate.com.au or domain.com.au). This research will come in handy when emotional issues start to cloud your judgement. Also, having an idea of asking price will help when you need to communicate your wishes to your agent.

 

Your asking price is one of the first things potential buyers will see. Ask too much and they’ll be turned off immediately. Ask too little and you could find yourself in financial strife. Finding the right number takes a little patience but the hard work is worth it.

 

Do everything you can to increase value

Adding extra value to your home, without having to spend a lot of money should be a priority. A few quick and easy things you could do to increase value include:

  • de-clutter and depersonalise – getting rid of all papers, knick-knacks and photos helps potential buyers to see themselves living in your house. A buyer making an emotional connection with your house is a good thing.
  • clean up your yard – your yard is the first thing people see at a home open so make sure it looks neat and tidy. Mow lawns, weed garden beds and paths, tidy up trees and hedges and clear away any rubbish.
  • update your paint – a quick paint job can do wonders to tired looking walls. If you have no budget to re-paint give walls a good scrub instead.

 

Choose the right agent

The right agent can make the process of selling your home so much easier. The aim when finding an agent is to choose someone you can get along with and trust to make important decisions. You need to find an agent that is:

  • experienced in your area
  • professional
  • well referred
  • committed to marketing your property in a wide variety of ways
  • innovative and inspired

Understand the contract

Before you accept an offer from a buyer make sure you read and understand the contract. This is a legally binding document that sets out the terms and conditions of your settlement so if you’re unsure of anything – question it. Don’t be pressured to enter into an agreement you’re not happy with – there is always time and opportunity to make changes before it’s signed.

Do you have any other suggestions to add to our list? Have you made any big mistakes that you regretted when selling a house? Please feel free to leave a comment below.