6 Mistakes most sellers Make

Whether you’re expecting a baby or a property has become too much to maintain, everyone has their reasons for selling and it’s something we may do multiple times through our life.

Yet, It is something too many people approachunprepared, leaving you at the mercy of the buyer, agent, and market.

So, instead, we’ve compiled a short list of tips for you that will at least make you aware of the pitfalls that surround this large transaction and big life decision.

Quality agents, not cheap agents

Before you start, you should be talking to friends and family about Real Estate Agents and whom they have used in the past. If this is not an option for your area, go online and read reviews and look for recommendations (genuine ones of course!). A good agent will be worth their weight in gold and will far outweigh a bad agent that quotes you a cheaper rate for their services.

Waiting for the market to go up

Every day, hundreds of homeowners put their homes on the market. Some may be in a hurry to sell their property and others may not. The point is, no matter what, you are going to have competitors so if you’re hoping to sell, there’s not too much reason to wait. So go for it! But go with with care, confidence and conviction. You never know, the market may only go further down in the next year or two when you be come more desperate to sell your home…

Dismissing The First Offer

It is very hard (unless your looking for a quick sell) to resist the temptation of taking the first offer you are given. Generally it’s a decent offer that gets you excited because it’s so early into the selling process and you’re filled with the confidence that similar offers will continue to flow in,

But there is saying in Real Estate that ‘the first offer is the often the best offer”. Remember early offers come from educated buyers who have been looking for a house like yours for sometime.

Rejecting offers outright

If you get an offer that’s lower than you’d like, don’t just shoot it down. Sure, it might be an opportunistic buyer   trying to low-ball you, but it could also be a perfectly    reasonable human being trying to negotiate.

You don’t have to only negotiate with price either. There could be additional value you could add or remove     according to the home’s features (e.g. appliances,     furnishings, etc.) that could make the difference between a low offer and a palatable one. You can also negotiate time, for example a longer or shorter settlement date.

Slow price reduction

If your house is not selling, you will be tempted to slowly reduce the price in an effort to attract more buyers, but beware! Prospective buyers with their eye on the market may pick up on this and wait for the price to come down further!

Price also communicates value to prospective buyers signifying the quality of the home, quality of life and more! So underselling the home, may also hurt your bid to sell.

Listing the home before it’s ready

You always want prospective buyers to see your house at its best. So a massive mistake is to post photos of the place or people to come look at it before you want them to see it. They say first impressions are everything and this could be a fatal mistake. So wait until you’ve had the home professionally staged, and repairs and maintenance jobs have been completed before listing the home.

Give Hicks Real Estate a call today on 07 3355 6845 to find out more.