Selling property is a job in itself. You need to be prepared for each stage of the process and doing your homework really pays off. Take heed of these tips to avoid your property being stuck on the market.
1. Putting it on the market prematurely
Whether you are selling your own home or a property which forms part of your investment portfolio, do not put it on the market until you are ready. Do you research, listen to advice and carefully consider your options. Do not be coerced into putting your property on the market until you have every question answered, and your property is looking its best.
2. Becoming too greedy
Whether it is to fund the next purchase or as a form of cash flow, we all want to make as much money from our sale as possible, but don’t get greedy. Agree to a marketing price that is realistic. We may think that our property is better than the one next door that just sold, but use this sale as a price guide. Don’t put people off even coming out to view your property if the price is too high as property that sits on the market becomes stale, and raises alarm bells as purchasers wonder why it has not sold. If you receive more than one offer, consider the lower one if they can move quicker meaning you won’t miss out on your next purchase.
3. Choosing the wrong agent
Don’t be persuaded to enlist the help of the first agent to walk through the door to sell your property. Yes, this might be easier than having to meet another two agents, but it is important you connect and trust the agent to achieve the best sale for you. This also gives you the opportunity to explore other marketing strategies, receive more market appraisals, and get advice on what can be done to help the sale. A good agent should win your business.
4. Not being prepared for the photographer
The internet is a vital tool as purchasers are time short and will spend time online searching for suitable properties before going out to view. A photo says a thousand words, and if someone doesn’t like what they see, a potential property could be instantly eliminated. Declutter and remember neutral is key. That bright orange rug in the living room might look great in real life, but can easily swamp a photo and create instant dislike. Roll up the rug, tidy away the newspapers, and keep worktops and surfaces as clear as possible. Show off the property and not your belongings.
5. Getting too involved in the viewing
If you are at home for the viewing, do not follow the prospective buyers around like a lost puppy. Not only is it off putting, but it can look a bit desperate too. Let the buyers roam around at their will so that they feel comfortable in having a good poke around, but be there ready to answer any questions. Remember not everyone is at ease nosying another person’s home but don’t hide under the stairs.
6. Don’t get too emotional
The sale of property is a business transactions regardless of whether you have been living in the same place for 15 years or it is where your children grew up. It can be hard to remove the emotion from something which has been so close to your heart for so long, but it is important to think with a straight head. Remember your intentions for selling, and stick with this.
7. Ignoring the professionals
If an agent has said that the price you want to achieve is too high or that by painting the property throughout will freshen it up, listen. An agent earns commission and will want to secure your property on their books, and then quickly sell it to move onto their next sale. It is in their interest to give you the best advice in order for this to happen, so take heed of their advice.
8. Being unhelpful
Buying and selling property can be complicated. There are lots of t’s to cross and i’s to dot. Be quick to answer any queries, be in regular communication with your agent, and where possible be flexible. Hiccups may arise en route but if you are helpful and up to speed on the sale, it should be just this, hiccups.