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6 Common Mistakes to Avoid When Selling Your Property | Ray White Marsden

By Richard Bloomfield

Selling a property can be a costly and stressful affair, so it’s natural for homeowners to want the process to go as smoothly as possible—from start to finish. Generally, what this means is a quick sale at a high profit. However, in many cases, properties can languish for months on the market with very little to show for the time and effort invested in the sales process. At Ray White Marsden, we believe knowledge is power. Below are 6 common mistakes that you should avoid when selling your property.

Mistake 1: Selling Your Home on Your Own

When it comes time to sell your home, it’s normal for you to want to save on the associated fees with a real estate agent. This can often lead to homeowners attempting to sell their own homes. This can prove to be costly mistake. Without the research and negotiation skills that a licensed agent can provide, the small amount of money you save in fees won’t compare to the potential thousands you may lose on the final sale price of your home.

Mistake 2: Working with the Wrong Agent

Selecting an inexperienced agent (or staying on with one) can be just as damaging as selling the home on your own. More often than not, a bad agent can get in the way of the sale of home, be it through mismanaging buyer enquiries, bad pricing advice, a poor marketing campaign, or a combination of all three. Take the time to find an agent who is not only skilled, but is as passionate about your property as you are, and genuinely addresses your needs. It can make all the difference.

Mistake 3: Overpricing Your Property

Remember that your property has to compete with other similar properties that are currently on the market. If your sale price is too high, it can actually have the reverse effect and turn serious would-be buyers away from your home. A good agent will know how to properly price a property to maximize your potential sale price.

Mistake 4: Not Preparing Your Property For Sale

First impressions matter. If you fail to present your property in its best possible light, it can have an incredibly negative impact on the final sale price of your home. Stack the odds in your favour by taking the time and effort to properly prepare your home. Ask Richard for some simple tips on how to best go about this.

Mistake 5: Over-capitalization

Talk to your real estate agent before you carry out repairs and renovations on your home, as it could save you a lot of money. You don’t want to run the risk of going overboard with your improvements only to find out that you won’t recoup your investment come sale time.

Mistake 6: Not Marketing Your Property Effectively

You can’t sell a secret. Every day, new buyers enter the market as old ones leave, and the only thing that changes is their situation. Obviously, we don’t know where the right buyer with right money for your property will come from—and this is exactly why marketing is so important. As buyers use a diverse range platforms when looking for a home to buy, it’s vital that we present your home on as many relevant platforms as possible. After all, the more buyers that see your home, the higher your chances you’ll achieve a premium price.

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