For most people, their home is not only the largest asset they own but also the one that they are most fond of. Selling a home can be the most complex transaction that you have ever made, which is why the process, especially when you go through it for the first time, can be very stressful.
The good news is the specialists behind Bricks + Agent know exactly what you are going through when selling your property, so we've made a list to help you avoid some of the most common mistakes that people make when selling a house.
1. Choosing the wrong price for your house.
Pricing a house can be very tricky, as there are so many aspects that have to be taken into consideration. A lot of people tend to overprice their property, which can sometimes limit the number of potential buyers and having their property sit on the market a very long time, which can lead to a major monetary loss.
It's recommended that you do some additional research before choosing a price for your house. You should task more than just one agent for an appraisal, analyze the market and other real estate listings in your area, check out some real estate websites like realestate.com.au or domain.com.au, or you can use a real estate platform like Bricks + Agent that allow you to find and compare local real estate agents and their proposals
2.Working with a real estate agent that is not right for you.
Work with an agent that you feel comfortable with, and who understands your needs and answers all your questions. Different agents can have different skill sets and different levels of experience in the real estate market.
A real estate agent’s responsibilities should include guiding and assisting sellers in marketing and in purchasing a property, being able to determine their needs and financial situation, and offering the best solutions for them, as well as accurately evaluating the value of a property.
Choosing the wrong person to handle your transaction can make way for a series of problems such as selling at a price that is too low or having to wait a long time before actually selling. Not being on the same page with your real estate agent, or hiring an agent that is unprofessional can cause a lot of unnecessary frustration. Take your time before deciding who you will hire and make sure you talk to more than just one specialist.
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3. Trying to sell the house yourself.
There are so many reasons why people avoid selling their house themselves and opt for hiring professionals, despite having to pay a commission. Home owners who decide to sell their own property will generally be on the market for longer, especially if they don’t have any previous experience in real estate.
Nowadays, so many buyers are searching online when they decide to buy a house, so not being included on the most important online platforms will greatly limit your reach and your traffic. Keep in mind that real estate agents are specialists in their field, they have experience and know exactly what works and what doesn’t, so think twice before deciding to go through this whole process alone.
4. Not repairing what needs to be repaired.
Not fixing minor and major repairs such as electrical issues, a damaged roof, or not replacing chipped or rotten floorboards, can be a major turn off for your potential buyers. If you want to make sure that everything is in order you organising a pre-inspection, will indicate what necessary repairs you should make. This kind of negligence can cause you to lose money in the long run.
5. Having the wrong attitude.
The right attitude for selling a house requires a lot of patience and not having very high expectations from your buyers. Not every potential buyer will be willing to submit a bid, as some of them are only browsing, or are interested in other properties more.
Keep in mind that for a buyer it is extremely important to analyze the market before making any decisions, so be patient and try not to seem too eager or too aggressive. Having a stress-free moving day is very important and you need to avoid making it hard on yourself by not hiring the recommended specialists.
6. Not thinking about a backup plan.
In real estate, things can sometimes take longer than expected, so if you happen to find yourself in this situation it is very important to have a backup plan. A delayed sale can be a source of problems such as unexpected expenses, storage costs, or even owning two properties simultaneously.
On the other hand, selling too fast can imply that you will not have a place to live until you manage to buy another house. Consequently, it is crucial to always think of a backup plan before embarking on the complex journey of selling your home.
Selling a house can be a challenging process, so make sure that you avoid these mistakes by hiring a top agent in our local area.
Let Bricks + Agent do the work for you. Register for free to find and compare proposals from local real estate agents today!
Do you want to increase the value of your property before selling? Use our interactive renovation tool and find out what will add value to your home.
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