4 things NOT to do when selling your home

It seems everyone has an opinion on what you should and shouldn’t do when you’re about to put your home on the market – friends, family, work colleagues, everyone becomes a ‘property expert’ at a very important time in your life. After all, your home is likely to be the most significant financial asset you own.

No matter what the well-meaning people in your life tell you, here are 4 things you should NOT do when selling your home.

1. Don’t think like a seller
Rather than thinking like a seller, you should think like a buyer. Put yourself in the shoes of a potential buyer for your home and look at it as objectively as possible through their eyes. Painting a picture of your potential buyers will help you present your property in a way that’s likely to encourage them to part with their hard-earned cash.

2. Don’t choose the cheapest agent
Choosing the agent with the lowest fee over a professional agent who charges more can cost you dearly in the end. It can be the difference between achieving (or even exceeding) your asking price and falling well short of the mark. Look at testimonials, interview a shortlist of candidates to determine what sets one agent apart from another.

Ask them to demonstrate how they would negotiate with a buyer to achieve the best price, look at their recently sold prices of properties similar to yours in the area and ask them what marketing and communication strategies they will adopt to attract the right buyers and keep you informed. Think of it as a job interview where you’re the boss.

3. Don’t over-inflate the asking price
While price isn’t the only determining factor for buyers seeking their ideal home, it will influence which properties they put on their short list. Price your home too high and you may not even make the list meaning they won’t even come and take a look. Of course you can always adjust the price later, but the first two to three weeks on the market are crucial in generating that initial excitement.

Once a property has been on the market for a long time, you risk people starting to think there is something wrong with it. Listen to the advice of your professional agent as they know what the current market is prepared to pay for a home like yours.

4. Don’t skimp on marketing
An effective and engaging marketing campaign is the best way to expose your property to the right buyers and grab their attention. Saving a few hundred dollars and missing out on some vital marketing elements can cost you tens of thousands of dollars in the end, simply because your property wasn’t seen by enough or the right people.

Post by ShelMarkblog 14 Dec 2018 0