- Wrong price
Placing your property to market at the wrong price is one of the main selling mistakes vendors can make. You should always conduct your own research before agreeing to list your property on the market. Make sure you are not being led by an over confident agent who is after your instruction rather than your best interests in selling your home as you could find your property sitting there unsold for months. Likewise, putting your property on the market too cheap could cost you thousands of pounds as you might accept an offer well below its true worth. You need to make sure you find the happy medium so that you get interest but the right interest at the right price.
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Choosing the wrong agent
Choosing the right agent to sell your property could mean the difference in achieving a good price or a poor price for your home (or even selling it at all). You should look at what agents are selling properties in your area and then check how many of the properties they are listing are sold or under offer. Do not be afraid of agreeing to pay a higher fee as sometime what you pay for is what you get and the agents who will not agree to work for nothing are the ones that generally put the maximum effort in. Many people are opting to use online agents because of the low fees that are offered. Do these online agents have the local knowledge of properties and prices in your area to give buyers and sellers the correct advice? You need to weigh up whether the lower fee is actually going to cost you money? Would a reputable local agent achieve a price way in excess of the lower fee you have agreed with the online agent? This is certainly food for thought.
Overdeveloping your Property
Upgrading or improving your property can certainly aid a sale. You need however to look at the properties in your local area and what other people have done to help them achieve a sale. Some people can make the mistake of overdeveloping/improving their property to the extent where it may not achieve any significant increase in the price they are offering it for. Over extending properties is a common mistake. The cost of an extension may not achieve a price higher than a property that has not been extended. Another mistake is putting in an expensive kitchen in a property that does not require such an improvement. You are not likely to get the cost back of an expensive upgrade in certain properties in certain areas. Always improve your property in keeping with the area and do your research before making such improvements.
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Poorly Maintained Properties
Keeping your property maintained can help you achieve a sale. If you are unable to maintain your property to a certain level then you must be realistic and reflect this in your asking price. If you do not have the funds to refurbish your property then you should try and fix the most important issues first like leaking pipes or replacing doors that may be coming off in the kitchen. Retouching paintwork or filling holes in the walls can also be low cost measures that could make all the difference in achieving a fast sale on your property.
Prepare your property for viewings
If you are aware of a viewing on your property then you need to make sure your property is ready to give it the best chance of selling. You should tidy the garden, declutter the house and, if possible, make you property as natural as you can so the viewers can see or imagine themselves living there. If you have too many family photos on the mantle or window sills, then maybe put a few away as a viewer does not want to think they are living in someone else’s home… they want to imagine it as theirs. Clean, tidy and declutter!
You should review the agents marketing methods before you agree to list your property. Check the photos and if unhappy, request them to be retaken. Ask your agent about having a board outside your property as this can make it more visible and word of mouth might spread from neighbours who are looking for friends and family members. Ask your agent for a premium listing on a property portal. This will help your property stand out from other properties in your area. Most importantly, make sure you have a pro-active agent who is willing to give your property the best exposure possible. You should also request that they list your property in the local paper in their property section as there are still some people who so not have access to the internet and you might miss a potential buyer by failing to do this.
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To achieve a sale you need to be prepared to be flexible in relation to viewings. If there is a lot of choice of similar properties on the market then you need to give yourself the advantage. Make sure you are available for viewings. If you cannot be available, try and get a friend or family member to help you out. If you are not living in the property or have already moved away then you need to give the agents a set of keys so they can have access to do viewings as and when they are requested.
Always read the contract in full. There may be hidden costs or conditions that could tie you in for a longer period than you may have been led to believe. If you are unhappy with the agents, you might find you have to pay them a release fee to terminate your contract. You also need to be aware if agents are charging additional fees to the buyer as this could affect the price you get when they make you an offer. Always read the small print!