Selling your home is an emotional journey; after all, you have invested many years of your life, hard work and cash into making it the home you wanted and needed it to be. For some, ‘downsizing’ after the children have left the nest can be a difficult time, whereas it’s a welcome experience for others.
Either way, when people start to view your home with a critical buyer’s eye, it can come as a shock to the system. Being an emotionally fraught period, coupled with stress and inexperience, can make a seller vulnerable to making mistakes. Here at Online Conveyancing Quote, we have put together a 10 point guide to help you through this selling process:
Point 1 – Allowing Emotions to Take Over
Deciding to sell your home is brave step for most people but this is where some people stop. But, you need to take another step in the process, to put emotions aside and decide with a cool business-like head what it is you want from selling your home. You also need to take a look at the process from a buyer’s point of view – what ‘works’ and what will put some people off? You need to understand that you are selling a slice of a lifestyle – not just 4 walls and a roof.
For some, the area in which they are selling their property is already part of this lifestyle equation. Birmingham, known as the UK’s second city, is enjoying a revival in its housing market; it is now a sought-after city for the purchase of property. Unlike Queen Victoria, you will not be pulling the blinds as she once famously did on a train journey, so that you do not catch sight of this metropolis!
Point 2 – not getting the right professional help for YOU
There is a penchant sweeping the market of not engaging agents to sell your property. Most people do not realise that if they opt for this approach, they will find it much more difficult to actively market their home via the internet or through any other medium. Someone also needs to be on-hand to show potential buyers around the property. Agents are particularly adept at ‘weeding’ out the people who really are not interested in buying but ‘just looking’.
Point 3 – Assuming you MUST use an Estate Agent
Following on from above, people assume that they must hire an estate agent as a definite requirement. There are some people who have successfully sold their own properties but t takes research to make sure you have your property in the right price range and your marketing is targeted at the type of people who would be interested in your property.
Point 4 – Unrealistic Price
This tends to happen when sellers allow emotions to rule their head. You may like the quirkiness of the porch or the garage, but others see things differently. If work needs doing, they will offer less. However, there is always a balance so have the lowest figure that you can accept in your head, but aim to get a fair price for your property when compared to others of a similar size in a similar area.
Point 5 – assuming the asking price is the price you will get
Buyers will negotiate, as you will negotiate on your next property. There are breath-taking instances where people do offer the full price and, if sought after by many purchasers, your property could get more. But in the main, the final sale price tends to be under the asking price, how much under is entirely down to you?
Point 6 – the Time of Year
Some people place their property on the market in winter; unless you need to, wait until the spring. The cold weather of winter along with the festive season make this an unpopular house hunting time. If you can hold off, wait until the warmer weather when the psychology of buying is different.
Point 7 – Poor Photographs
The main thing that attracts buyers to view your home is the ‘selling particulars’, with the photos being visually attractive to buyers. What can happen is that a) the photos do not show your home in the best light or b) not enough positive details are included. Photos should be good quality, crisp and clear. If you are not getting viewings and your price is in a good range, go back to the photos and critically assess what they are ‘really’ showing positively about your property.
Point 8 – Skimping on Insurance
Open homes are a great way of getting people in and generating interest. BUT, if you are inviting members of the public to look around, make sure you have some insurance cover just in the case something goes awry. Also identify the hazards and either remove them, or warn people they are there.
Point 9 – glossing over issues and problems
Not many properties are perfect in terms of their structure and repair, but you simply must tell a buyer if you think or know there is a problem. Should anything be discovered after the sale, and you knew about it and concealed it from them, there could be a whole heap of expensive legal trouble coming your way. Either repair it or make them aware of it.
Point 10 – not having your property in ‘selling mode’
This is the biggest and most common mistake made by sellers! Even though there are various television programmes and online sites that tell sellers this, people are still not doing it – you simply must prepare your home for sale. From having the oven professionally cleaned, to touching up the gloss paintwork, decorating the house in neutral shades and de-cluttering. Show your home to its full potential – make the bedroom look like a bedroom, not a dumping ground!
And finally, make sure your property is available to view because any day a buyer could walk through the door!