Top 5 Mistakes Sellers Make - And How To Avoid Them
Category Advice
Selling your property is unfortunately not as simple as hammering in a "For Sale" sign and handing over your keys. There are a number of mistakes that can be made, especially if you have never been through the selling process before. These mistakes can cost you time, money, and energy - things you preferably want to hang onto during this kind of venture.
That said, mistakes can be easily avoided when you are armed with the right information and supported by the right people (that's us, but we'll get to that later). First, let's take a quick look at some of the most common errors that first-time sellers tend to make, as well as some helpful tips on how to avoid making them.
5 Mistakes Sellers Often Make (And Ways To Avoid Them)
Mistake 1: Overpricing The Property
As much as you would like to snap up the buyer willing to pay the highest price for your property, this strategy has been known to backfire. Setting an unrealistically high price can discourage potential buyers and prolong the selling process.
Solution: Rather do due diligence and research the market, consult with a seasoned real estate agent, and consider recent comparable sales to determine a competitive and fair listing price. You are far more likely to find the right buyer quickly, without having to resort to price wars.
Mistake 2: Neglecting Presentation
Buyers want to view properties that look their best so that they can envision themselves living in the space. Sellers who fail to prepare the property for sale by not cleaning, decluttering, or making necessary repairs can turn off potential buyers. The more you can do now to make your property presentable, the more likely you are to pique the interest of buyers.
Solution: Make the effort to get your property looking clean, neat, and uncluttered. Consider investing in home staging, improve your property's curb appeal, and fix any structural issues to make the property more attractive to potential buyers.
Mistake 3: Ignoring Compliance Issues
One of the quickest ways to lose the interest of your potential buyers is to neglect or ignore compliance. Not addressing known issues or not disclosing them ahead of the sale can lead to complications during negotiations or legal problems.
Solution: Ensure that all compliance inspections have been completed by reputable assessors, and that all your property's compliance certificates are up to date and available. Be transparent about any problems and consider fixing major issues or adjusting the price accordingly.
Mistake 4: Not Marketing Effectively
In the digital age, relying solely on traditional marketing methods can be a big mistake when it comes to selling your property. Most potential buyers are using the internet in their primary property searches, and you can't afford to not have your listing available online. This will limit its exposure and you run the risk of losing your ideal buyer.
Solution: Make use of reputable online platforms like Private Property, Property24, or SAproperty.com. Invest in professional photography, and utilise the power of social media to reach a wider audience.
Mistake 5: Not Understanding The Sale Process
This is the area where we have seen sellers make their biggest mistakes in the sale process - a lack of understanding of how it works. Being unfamiliar with the legal and financial aspects of selling a property can result in costly mistakes.
Solution: Invest in the services of professionals who are familiar with the ins and outs of property sales. Take the time to also educate yourself on the phases of the sales process and consider seeking legal, financial, and professional property advice to ensure a smooth transaction.
Want to sell but don't know where to start? Call us!
We understand that a property sale can be daunting for first-timer sellers - but it doesn't have to be! With the right property partner guiding you every step of the way, you will get it right the first time. Get in touch today to arrange an introductory meeting with one of our top agents who will walk you through the selling process and get your property connected to the right buyer.
Author: SAProperty.com
