It's fair to say that when a homeowner decides they are ready to put their home on the market for sale, they are looking for the highest possible price. The equity that we hold in our properties gives us options. It is our money, and a higher sale price allows you to either a) buy a more expensive property, b) release some equity to get back in your pocket if you downsize, or c) cash in entirely and put the money in the bank. No one wants to leave their money on the table, particularly if you've worked hard and paid your mortgage for years. An increase in the value of your property is like the reward you get for buying your home and making payments each month rather than staying in a rented property.
Sadly, there are some mistakes that lots of sellers make when trying to sell their homes that can have a serious negative impact on the price they achieve. But, these mistakes are easy to identify and simple to avoid. Let us share how…
Overpricing: If the final sale price is so important, it's no surprise that many homeowners opt for the highest possible price quoted in their valuations. However, overpricing can lead to serious consequences. Testing the market with a higher price will usually return the same result: no viewings, offers, or sale. Potential buyers will simply not book to view if your property seems too highly priced. Buyers are keeping a keen eye on the market and will be able to sniff out an overpriced property with ease. Overvaluing property is a huge issue and often comes from agents trying to win your instruction through flattery rather than evidence of the market value. Fundamentally, if you have 4 valuations, 3 around the same price and one wildly higher, the higher one is likely wrong.
Poor presentation: You do not live in a show house, but you should try to put your best foot forward. Present your home ready for inspection so that buyers can see your property clearly rather than having to look past mess and clutter. Leaving clutter around your house will also make it seem smaller, which can have a huge impact on the price that a buyer might be willing to offer. An easy fix that could get you a higher offer, so you have nothing to lose.
Poor marketing: This is slightly out of your control as it is part of your estate agents' job to prepare that marketing for your property. However, poor photography can seriously harm your marketing, so it's vital that you select the right agent to promote your property. Dark, gloomy images with bad lighting or photographs taken from the wrong angle can make your home seem small and uninviting.
Hiring the wrong estate agent: Leading on from poor marketing, choosing the wrong agent to market your home can have an enormous impact on your end sale price. Your estate agent plays a crucial role in the selling process. They need to be proactive, understand how to promote your property to buyers, excel at negotiation, and, crucially, be capable of holding the sale together for you throughout the legal process. It's not just about finding an agent who will list your property but one who will actively work to sell it at the best possible price.
The decisions you make at the start of your selling journey can have a profound impact on the success of your sale and the price you achieve for your property. Starting on the right foot is crucial, as these early choices can set the tone for the entire process.
To discover how our team sells property, using innovative technology and expert knowledge to maximise the value of your home for you, get in touch today.
