The Do’s and Don’ts of Selling Real Estate
Selling Real Estate is not just standing in home opens and trying to convince people to buy a home. There is a great deal involved and it’s good to know this if you are looking at selling as there are a number of traps that you can easily fall into.
First of all, buyers will generally only ever buy a home that they “fall in love” with. And just as in human relationships, until you know someone’s personality, this is nearly always “looks”. So it is extremely important that your home looks as beautiful as possible if you want someone to fall in love with it. This is always number one in any scenario, the features of the home are all good but only serve to cement the love. If the love is not there, you could have a gold roof and still no-one will buy it (except perhaps an astute investor…).
So number one “do” is make your home look as beautiful as possible, this is usually pretty easily achieved with white paint throughout and some lovely furniture and styling. All clutter has to go, anything that doesn’t look super attractive has to go, toys have to go (or contained in one space), so that everything that your buyer has to look at when inspecting your home is appealing and attractive. They will judge your home by what it has in it – not by the walls and floors.
My number one “don’t”– is to overprice your home. This is like committing financial suicide and will cost you money in the end. It will ensure that your house stays on the market, until it starts to get ignored, loses all its appeal, appears as if nobody wants it and will maybe eventually sell, but for a whole lot less than it should have.
Real Estate is like a loaf of bread. When it’s hot and fresh everybody wants it, but when its cold and stale – nobody does.
“Don’t” ever fall for the agent who promises to get you a certain price. No one can make that promise, and a promise based on something that is out of their control is a “non” promise. This is a common scenario and should be looked out for.
“Do” choose the agent who tells you what you need to hear and not what you want to hear. This is really important. We all want to hear that our house is worth more, but be very aware that the wrong advice here can cost you as much as 10% of the value – possibly more.
“Don’t” chose an agent, who offers you the lowest commission. The selling fee is only payable when the property is sold and is a percentage of the result. Agents get very different results and you tend to get what you pay for – so you can end up with a lot less money in your pocket by engaging a cheap agent – which means they turned out to be very expensive in the end.
There’s a lot to think about and it’s important to get it right, so feel free to drop into The Property Exchange at 212 Nicholson Road, Subiaco and pick up a free copy of our booklet on the best way to sell your property, and how to achieve the best result.
Source: “The Do’s and Don’ts of Selling Real Estate”, The Post – 7 March 2020.