The most common mistakes you can make when selling your home – and how to avoid them

REAL ESTATE

Are you thinking of selling your home? Are you looking to take advantage of the current market? Selling your home can be a long and stressful process – and costly mistakes can occur if you are not prepared. 

Effectively presenting your property is the key to maximising your end sales price. It all comes down to presentation and first impressions for buyers will last. 

Unfortunately, we regularly see unprepared vendors make costly mistakes throughout their campaign – which usually hurt their final sales price. 

What are these mistakes? How can you get yourself better prepared? Let’s delve into how you can avoid making common mistakes, and thereby maximise your sales result. 

What is a mistake and why presentation is key?

A mistake is something a vendor does, or doesn’t do, which impacts how potential buyers feel about the vendor’s property.  As a vendor, it’s important to see your home through a buyer’s eyes. Think objectively, and try to see your home, not as your family home anymore, but rather as a “house to sell”. 

Your home’s façade is very important. Not only is it the first thing a potential buyer will notice, but the front area of your home is usually captured as the “hero shot” for your campaign’s photography. 

Does the front garden need a tidy? Do the windows and fly screens need a good wash (or replacement)? Is there grass growing in the gutters, or are parts of the guttering system broken? Do you have broken or even mismatched roof tiles? 

Most buyers have a keen eye – and will find objections. Where possible, it is always advisable to rectify and remove any objections.

Buyers are usually very concerned with the structural integrity of a home – including foundations (particularly stump footing), brickwork, uneven flooring, guttering systems and roofing.  Buyers will often engage a professional building, pest or pool inspector, to get a professional opinion on the home.

As a vendor, should there be any defects and issues identified, which you are not prepared to rectify, be aware you may need to negotiate on your asking price in order to secure a sale. 

Your home’s presentation and styling is key. Buyers need to form an emotional connection with your home. They need to visualise their family living comfortably there, creating life-long memories and enjoying a brilliant lifestyle. 

If your home has visible dampness, peeling paint, torn carpet, broken appliances, or water damage – a buyer’s emotional vision can be impacted and doubt may very easily set in. 

Where to focus your efforts and how to avoid key mistakes?

It is so important to get the presentation of your property right. To get the best sales result, we strongly recommend vendors start their campaign planning as early as possible.

If you are considering selling in the 2021 spring market, we strongly suggest beginning your planning activity in early July – given just how busy good tradesmen currently are, and the delays being experienced in quality material supply. 

Once you have walked through your home, through a buyer’s shoes, you may have a long list of objections to remedy. However, not all of them will be worth rectifying. If you are finding it difficult to know where to start, speak with a trusted real estate agent who can help with information on what objections buyers may notice. 

A trusted agent will be able to clearly identify who your likely buying group will be. Is it first-home buyers, investors, downsizers or larger families who are upgrading? Once you have identified your likely buyer, a trusted agent will be able to inform you what key objections to focus on. 

Once you decide on your list – be sure to complete them right. Invest the time and effort to ensure the quality and finish is spot-on. Use trusted and reliable tradesmen. For example, if your paint finish is poor, this may hinder certain buyers and actually act as a deterrent. Buyers may perceive it’s one more thing they will need to rectify once they move in. 

Remember, the objective is to present your home in such a way, that it appeals to the greatest number of committed buyers – who then form an emotional connection with your home – and subsequently fiercely compete to win it. 

Should one or two committed buyers notice objections within your home and subsequently lose interest, you may still get a sale, however your chances of achieving a run-away sales result are diminished. 

Seek advice from a trusted professional – always.

Our homes are our greatest investment. Always speak with professionals who can provide you with an unbiased opinion and provide value-added insight. 

If you are finding it difficult to know where to start, speak with One Agency Mildura who can help with information on what buyers may notice about your property. Often the ‘to-do’ list may seem overwhelming but speaking with a local professional can set your mind at ease.  Finally, do not feel offended with any advice you receive – remember, you are turning your family home into a “house to sell”. 

One Agency Mildura has the most trusted real estate agents in the area, they are well placed to provide you with their view of the current market. They’ll thoroughly guide you through the sales process and help you take advantage of this opportune time in the market.

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