Selling your house or apartment is a big deal, not the least because you are going to cash in thousands of dollars. That’s why you need to approach the whole business as a professional, even if you’re selling real estate for the first time in your life. You can start preparing by examining the 8 most common mistakes unsuspecting homeowners make.
Putting the right price on your home
Pricing is a delicate matter: set a price too high and you won’t be able to sell the house for months or even years; set a price too low and you’ll lose thousands of dollars. The prices in the real estate market vary all the time, so it’s worth staying up to date by conducting a thorough market analysis.
Essentially, try to find out which sums the houses in your street or block are selling for. This will help you make a rough estimate of how you should ask. As time goes by, you can adjust the price for market trends, so always start with a price that is a tad higher than the average.
Inform prospective buyers of major repairs
Unless your home is brand new, it needs repairs, both minor and major. You can perform some of these, such as fixing a leaking roof or installing a brand new HVAC system but there is always going to be at least one improvement that you failed to perform.
This is perfectly fine as long as you let prospective buyers know what repairs are necessary after they purchase the home. This info won’t impact the final price but it will make people trust you since you are willing to share all the details with them.
Spruce up the property a bit
Staging a home is something you should leave to professional the real estate agent will take care but you can do your part by sprucing up the home a bit.
We are suggesting simple improvements, such as mowing the front lawn, locking the pets away (and picking up their toys), removing clutters (car keys, piles of paperwork, a sink full of dirty dishes), eliminating nasty odors (perhaps you’re a smoker), etc.
Think of the house as a showpiece and do your best to make it presentable.
Covering the legal aspect of the sale
Unless you have a degree from a school of law, you are probably not very familiar with property law.
After you sell the property, you will need to officially and legally transfer the property to the new owners which you cannot do without the help of conveyancing experts who do this sort of business for a living.
This will get everything done quickly and they will protect your legal rights as the seller, so it’s worth the trouble finding good solicitors before you sell the property.
Get an agent involved
Much like the legal aspect of the sale, the financial segments could use an expert’s assistance as well. Even you are reluctant to hire a real estate agent to conduct the sale of your house/apartment, you can still consult them on the most important issues. Real estate agencies offer consulting services, which we recommend using even if you have decided to sell the house on your own.
Talk to other people
As mentioned in the introduction, selling a property means that you are going to increase your wealth by tens of hundreds or thousands of dollars. That’s why many people are reluctant to share information about the sale with other people, such as their close friends or family members.
This decision is wise but only for the financial aspect of the sale. For everything else, you should talk to as many people as possible to get their experience and receive valuable insights and advice. For instance, your (ex)neighbors will tell you how the sale of their house went and what to look out for.
Your home is not a den; light it up!
In terms of interior décor, the worst possible thing you can do is close the shades or use low-power light bulbs. Every room in the house/apartment should be well-lit with a 100-watt LED light bulb so everything inside the room is clearly visible.
Yes, potential buyers aren’t going to come after nightfall but if they come on a dreary and rainy day? When natural light is poor, you have to rely on the artificial lighting inside your home.
Take great photos
If you wish to get buyers interested in your property, the photographs on the real estate website need to look professional. In fact, you can take an online photography course to learn how to snap perfect photos for your listing. Using a wide-angle lens and the correct lighting can make a world of difference and help your property sell faster!
Listing a property requires the seller to have a clear strategy. While formulating this strategy, you need to avoid the usual mistakes made by first-time sellers to save money and keep your nerves. From conveyancing services to set the right price, there are numerous hacks for a profitable deal.