A house that’s been languishing on the market is unlikely to fetch a premium price. Here are 4 mistakes many vendors make when listing their home for sale.
- Setting your price on your needs and emotions rather than the actual selling value. Many sellers decide on ‘subjective’ rather than ‘objective’ value for their home. And some agents know all too well how to play that game to win a listing.
- Neglecting to ‘present’ the house. A property that’s not spick-and-span often indicates concealed flaws that increase the total cost of ownership. Your potential buyer will allow themselves greater room for error for the price of repairs, reducing their offer.
- This is one that many home owners fail to realise – taking the first offer they receive seriously. A lot of sellers consider that the first offer received will be among many to come, and therefore they have time to stand their ground for a higher price. This often happens if an offer comes in shortly after the home’s been listed. Often the first offer ends up being the best buyer, and the vendors lose by having to take less money much later on in the selling process.
- Attempting to sell your home on your own. Less than 10% of self-sellers actually sell their home and nearly all of them end up hiring an agent after much wasted time and a lot of advertising dollars spent.
I hope this has been helpful. If you’re considering a move any time soon, we should talk.