4 things not to do when selling your home
Selling a home is a tricky business. And it’s also something of a national pastime, which means that everyone has an opinion on it.
But no matter how strongly your family or friends believe in a certain way of doing things, you shouldn’t take their advice at the expense of your agent’s.
With that in mind, here are four things not to do when selling your home.
1. Don't engage your agent late in the day
The way the real estate industry works, sellers generally only pay agents one fee: a commission on the sale price.
The earlier sellers engage agents, the more time agents can spend on advising how to redecorate a home in line with the tastes of the target market.
And they’ll also help you decide whether you need to embark on any costly renovations.
2. Don't list with the cheapest agent
Armed with fierce negotiating skills and plenty of industry connections, a good agent is often the difference between your property selling above asking price and coming in just short of the mark.
And so, it pays to look past the price tag when researching potential agents.
Create a shortlist of those who have recently sold similar properties to yours, and then interview them to find out what sets them apart from the competition.
3. Don't set your price too high
Price your property too high and you’ll scare off large numbers of otherwise interested buyers.
You can, of course, readjust the sale price at a later date. But after your property has spent a few weeks on the market, some buyers may avoid it regardless of the price, as the longer it’s been for sale, the more likely buyers will assume there’s something wrong with it.
4. Don't skimp on marketing costs
Buying and selling property is never cheap. But tightening your purse strings isn’t always the answer.
By exposing your property to far-reaching audiences, an effective marketing campaign is one of the best ways to drum up demand for your property. And the greater the demand, the higher your chances of securing a good sale price. Which is why skimping on marketing costs represents a false economy.
This article was originally published on realestate.com.au.