Posted on August 14, 2019 at 10:33 AM
Selling a property can be incredibly challenging, especially if the market is not as strong in your area is it used to be. However, sellers often make simple mistakes that are easily resolved and make finding a buyer more difficult than it needs to be! Avoid the 5 mistakes below and give yourself the best chance of a smooth sale.
1. Not staging the property.
When the property is ready to be listed and photographs have been arranged, spend some time clearing the house of any clutter. You want to show the property at it’s most presentable and in a way that people can see themselves living there. Some buyers struggle to see past the clutter in a house and it weakens their interest.
You might also consider moving pieces of furniture around in order to utilise the space and open it up. It might not be how you’re used to having things, but it can go a long way in making a space seem as large as possible. If the house is empty, renting furniture (at least for the photographs) might be a worthwhile investment, making the property seem homely and easier for buyers to see themselves moving into.
2. Having a lacklustre listing.
A GREAT listing will get people who perhaps weren’t considering your area or spec of house to view your property. The more people that come to view your property, the better chance you have of selling it and getting the best price. So, what makes a GREAT listing?
- Professional Photographs (Quality, Composition and careful selection)
- Staged property/ completely de-cluttered
- Detailed Floorplan
- Clear and complete list of features
A useful tool can also be to have the property ‘featured’ on portals such as Rightmove and Zoopla, increasing the traffic to your listing.
3. Mispricing.
The easiest way to weaken serious interest in your property is overpricing it. It can be tempting to try and list at a much higher price, but buyers nowadays are well informed and won’t overpay; resulting in your loss of time, property potentially becoming stale and buyers ultimately looking elsewhere.
You also need to be wary of under-pricing your property. An Estate Agent might convince you your property is worth drastically less in hopes of getting a fast sale through.
The best course of action is to do your own research, most importantly of comparable properties in the immediate area that have sold recently. Keep in mind the size, location and the condition of your home when doing your research.
4. Don’t let emotions get involved
Don’t take selling personally. It can be tough to listen to a buyer list everything they think is wrong with the property or the reasons they think It’s not worth as much as you’re selling it for. Keep in mind this is a transaction and they’re trying to get the best deal they can. Don’t let your emotions and attachment to your home get in the way of good negotiation.
The opposite is also possible, when vendors get along well with buyers and agree to reduce the price further. Don’t let either of these things happen to you, be firm but fair when negotiating.
5. Working with the wrong Estate Agent.
A good agent will have your best interests at heart, give you unbiased advice throughout and will guide you through the process of selling from start to finish. Yes, every agent’s ultimate goal will be to collect their commission, but a good agent will go about this in an ethical, honest and professional manner.
Beware of agents that overpromise and underdeliver. A lofty valuation can sound appealing in the moment, but it will get you no closer to actually selling, most likely setting you back in the longer term.
Don’t use the first agent you come across, spend some time gathering a few valuations, researching online, reading reviews and asking family/friends for recommendations.
At The Property Shop we pride ourselves on our professionalism, honesty and the relationships that we build with our clients. We guide our clients throughout the process of selling: creating expert marketing materials, finding a serious buyer and negotiating on your behalf, and ensuring the sale gets to completion. We don’t tie people into long contracts and are competitive on fee’s, so if you’re interested in selling your property (or are just a little curious how much it’s worth), give us a call and speak to one of our property consultants today!
Contact us today:
Call us on: 0208 951 1888
Or email us at: sales@thepropertyshopltd.co.uk.
