What Mistakes Do Some Sellers Make?

The difference between a profitable, smooth transaction and a miserable experience is often a fine line. The majority of home selling nightmares are caused by a lack of knowledge on behalf of the owner and in many cases the agent. This list has a few of the simple yet costly mistakes I have seen sellers and other agents make.

Unrealistic price

Set the price too high and it will sit unsold and develop the identity of a problem property, with the accompanying stigma of what real estate agents call a “stale listing”. On the other hand, price too low and you may give away thousands of profits to a total stranger. Either way you lose. Setting the appropriate price involves the evaluation of numerous different factors … and it’s critical.

Poor presentation

The prospective home buyer's first impression is the most important. An unbelievable amount of home sales have been lost to un-mown lawns, cluttered rooms, bad stains, dirty kitchens and bathrooms with unpleasant odours. Imagine you are the buyer and clean your home from top to bottom.

Lack of maintenance

Often even minor improvements will yield as much as three to five times the repair cost at the time of sale. There are literally thousands of homes for sale so make sure yours stands out for all the right reasons.

Making selling decisions based on emotion

You must realise that selling your home is a business transaction. Don’t let your emotional ties to your home affect your judgement. Remember, purchasers are not buying your home, they are buying a house to make into their home.

Failure to understand the market conditions

Just like the stock market, there are current market conditions for houses as determined by supply and demand. Many buyers shop dozens of homes comparing values, so it is very difficult to find willing buyers to  pay more than the current market value. No single person, firm or agent has any control over the market.                              

Picking the wrong agent

The vast majority of all homes sold by real estate agents, but all agents are not the same – not even close. The agent’s experience, knowledge and marketing plan can have a huge impact on your success. Signing up with the right agents can make all the difference in the world.

 At Mates Rates Real Estate Australia we can help you avoid these costly mistakes