HOW TO AVOID UNDERSELLING YOUR HOME

When it comes to selling your home, there are 4 common traps that many owners fall into. Avoid these mistakes to maximize your chances of achieving a great result.

Mistake 1. Listing with an agent who is only focused on a quick sale.

Some agents are focused on turnover. They want to get your home sold as quickly as possible so they can bank a commission. Other agents understand that great prices are the result of buyer vs. buyer competition and ‘fear of loss. They will offer you a marketing plan aimed at securing the best price, not just the first buyer that walks in the door.  You might say “we won’t sell for less than ‘X amount no matter who the agent is” but remember, you can only turn down the offers your agent is good enough to bring you.  A bad agent simply provides a lower chance of achieving your desired price and a minimal chance of selling your home for a premium.

Mistake 2. Sacrificing on marketing to save money upfront.

One of the advantages of owning property is that when it comes time to sell, you can invest a small amount to attract as many buyers as possible and potentially improve your outcome dramatically. For many of us, our home will be the most valuable asset we ever own. High-quality marketing can easily add 5-10% to the value if it attracts multiple buyers who compete with each other to buy your property. Investing in marketing could end up being the best money you’ve ever spent. Here’s another way to look at it. If you were buying a business for $500k would you set aside some money for advertising once you took over? Bakeries use professional photography to sell a $5 muffin, doesn’t your property deserve decent promotion too?

Mistake 3. Tricky viewing arrangements.

As an owner, it’s human nature to want to minimise viewings and avoid ‘tire-kickers’. In this day and age though, it’s important to remember that most buyers are time-poor. If you make it challenging for them to view your home, chances are they will go and buy something else.
Real estate purchasing decisions often require agreement from multiple parties. Trying to find a viewing time that suits every decision-maker involved is challenging enough when a property is vacant. Making your property easy to view will maximise your chances of attracting multiple buyers and a premium price.

Mistake 4. Bad Presentation.

Remember these three words: Clutter Eats Equity. It’s simple as that. Excessive furniture makes a room feel smaller than it truly is. You can maximise the feeling of space in your home by removing all but the most essential furnishings and by replacing personal items on walls with mirrors or neutral prints. Unsure how much furniture to remove? We are here to help. As part of our service, we provide advice on how to stage your home to achieve the best possible price. Call us today to book your free consultation.