Top Five Mistakes People Make When Selling Their Home
Published at: 09/09/2016
So you're thinking of putting your home on the market. For many people their home is their most valuable asset so you will want to get the best possible price for it. Jackson & Co's Top Five Mistakes People Make When Selling Their Home will help you avoid the common pitfalls.
1. Being unrealistic about your home's value
What you think your home is worth, and what someone is prepared to pay for it, can vary widely. As the seller you must be careful not to be too greedy as properties that are overpriced when they are put on the market can sit around for a long time and end up selling at a lower price than if they have been priced more realistically in the first place. Start off by setting a fair and reasonable price for your home, but also build in some room for negotiation, especially if you need to sell quickly.
Our team at Jackson & Co have many years' experience as estate agents in the Colchester market and will advise you of the best price to ensure the quickest possible sale.
2. Neglecting necessary repairs
If you don't take care of any necessary repairs before putting your home on the market it could affect what a buyer is willing to offer. Yes, it might cost you to fix things ahead of time, but better that than have buyers see your house in disrepair and make a lower offer as a result. Set aside some time and do those little jobs. You won't regret it.
3. Hiding the truth about your home
Being honest with your estate agent about potential issues with your home will help them price your home appropriately given its condition. Covering up any serious flaws, like foundation problems, leaky roofs, or mould, could come back to haunt you later if they come up during the survey. If that happens your buyer may reduce their offer to cover the cost of repairs, or worse, back out of the deal completely.
4. Refusing to negotiate
If you have priced your home correctly you can make your buyers happy whilst also getting the price you need by being willing to accept slightly less than asking price for your home. In addition you may have other bargaining tools at your disposal such as including appliances, curtains or making certain repairs to the property.
Many buyers will start with an offer well below your asking price as, naturally, their goal is to pay as little as possible for your home as they can. Don't be downcast, hold your nerve and let your estate agent handle the negotiations.
Working with an experienced estate agent like Jackson & Co can help you negotiate the tricky dance of getting the price you want without scaring off a buyer.
5. Not preparing your home properly
If you've avoided the four home selling mistakes above then you'll be on your way to a successful sale. However, one way to quickly derail your viewings is to neglect preparing your home for the market. This is a mistake that should be avoided at all costs as there is only one opportunity to make a good first impression with potential buyers. A viewer who walks into a home that is full of clutter, or that has lingering pet odours, could easily be put off a home they might otherwise have been interested in.
It's vital that you prepare your home for the market and one of the best ways is to organise and declutter.This is not only a very inexpensive home sale preparation tip but it's also a great way to help sell your home quicker.
Check out Jackson & Co's top tips for preparing your home for viewing:
If you are thinking of selling your home contact our Sales Team for a no obligation market assessment and valuation.