Buying and selling properties is stressful, in fact we’ve all heard the adage about it being one of the most stressful life events. With this in mind, it’s natural to approach the whole process with trepidation, mainly because of the whole myriad of unforeseen things that can happen.
There feels like a mountain of decisions to make, often all happening at the same time, so being able to anticipate them and look out for avoidable mistakes to make it as easy as possible to cope with.
Let’s look at some of the biggest mistakes first-time sellers make and what to avoid.
Overpricing the Property
This first point isn’t confined to first time sellers, but most people putting their property on the market. Overpricing and setting the asking price too high is the biggest one. It’s completely normal to want the best possible price and see your property in the best light too. But you have to try and look at things objectively, which is why seeking advice from professionals and researching the marketplace is key. The last thing you want is to put buyers off and remain on the market for way longer than necessary.
If someone notices that your property has been on the market for a while, they might not think it’s the price but start to suspect that there are other issues with your property, so do you best to reduce that impression.
Neglecting First Impressions
Like in most situations, first impressions are crucial and none more so than when someone comes to view a property. Try and present a property in the best way possible and use fresh eyes and perspectives to help you to avoid some obvious pitfalls.
Tidy the front of your home and garden, taking care of minor repairs or a lick of paint to spruce things up. Buyers might only be interested in what’s happening inside your property, but giving a good first impression as they walk up the path will always help.
Declutter as much as you can so that buyers can visualise how they will use a space and see how much space they have to play with.
It only takes a few seconds for a bad impression to form and then it can be an upward battle to change someone’s mind.
Failing to Prepare
Yes, you might want to get a property sold as soon as possible but if you rush listing it and don’t market it properly then it’ll be harder to sell in the long-run anyway.
Have you budgeted for solicitor fees, stamp duty, surveys, estate agents etc. Make sure you’ve financially planned so there aren’t any nasty surprises.
Work on capturing some great photos that show your property in its most favourable light – make sure everything is clean, decluttered and photos are high-quality.
Think about the best features of your property and the local amenities you can highlight.
Choosing the Wrong Estate Agent
Take the time to research estate agents and find the best one for you. Making sure you have a chat and get a good vibe before listing can be really beneficial when working alongside an estate agent – they can make the whole experience much smoother and have a wealth of local knowledge to tap into.
Being Too Emotionally Attached
It’s completely understandable to feel really emotionally attached to your home, to the point where it’s hard to see anything objectively. You might have lived there for years and brought up a family, which means emotional decision-making can prevent what’s best for the property sale. Trying to remove emotion and see things from a buyer’s perspective is key and decisions aren’t personal, but for the benefit of the property.
Limiting Viewing Availability
Yes, viewings might be at inconvenient times and hard after a long day at work, but the long-term goal is to sell your property and you never know which viewing will lead to a sale. Being open and available is important, as well as flexible if someone has different needs to accommodate.
Remember to maximise interest is to maximise viewing times.
For more info and advice about selling a property, get in touch with our team at Home EA today.
