Selling a house or any other type of real estate can be a daunting task without the proper know-how. Many websites can be helpful, but working with a real estate agent is always your best bet. They will help you get the most out of every deal while keeping money in your pocket.
But no matter how much you trust your agent, it’s also important to do some research on your own. This includes looking into comparable properties in the area and understanding what buyers are likely to offer. To have the best chance at selling a property it is best to follow some professional advice.
Don’t overprice your property
According to the pros, the most common mistake sellers make is that they want to sell their property for as much money as possible. They failed to look at what other properties were selling for and instead tried to get top dollar. A great example is selling a property in SG for more than what it’s worth. Overpricing is a complete mistake that will leave your home on the market for too long, potentially decreasing its value.
By asking too much for a house, you may scare away potential buyers who don’t want to deal with someone who doesn’t know how markets work or simply won’t budge on price. Sellers should be realistic about prices in the area and not overvalue their own house if it looks shabby or outdated compared to other homes on the market.
Do give buyers a blank slate
Another mistake that is easy to fix is being too strict with renovations. Some sellers come up with renovation plans for their homes before putting them on the market, but this can be a costly mistake. Instead, try giving buyers leeway in designing the house they want. A common complaint about renovations is having to be made before moving into a property or during the first few days after moving in. If you let buyers redo it themselves you are more likely to get someone who knows what they are doing and will take care of your property better than you would yourself. This also means less work for you.
Keep the house clean and tidy for showings
The third mistake sellers make is failing to keep their homes clean and tidy for showings. This may seem like an obvious one, but it’s something that is easily forgotten when preparing for a move. Buyers will be looking at every nook and cranny of your house, so you need to make sure it’s as clean as possible.
This includes making sure all the clutter is hidden away and that there are no dirty dishes in the sink or pet hair on the furniture. If your home isn’t in good condition, buyers will be less likely to make an offer. And if they do make an offer, it will probably be lower than what you’re hoping for.
Be open to negotiations
When you use an agent it often means buyers don’t have much choice when it comes to which house they’ll buy. If you list your property and it’s the only one on the market in that area then there is no competition and buyers will feel that buying yours may not be worth their while. This can lead them to try and negotiate prices with you.
Negotiating might seem like a bad word because we automatically think of car salesmen or haggling. But when it comes to selling your home, negotiation is part of the game. Your agent will help you come up with an asking price for your home based on various factors, but once it’s listed you need to be open to negotiation. If not, you could miss out on thousands of dollars in profits that could have gone into your pocket.
Don’t nickel and dime your way through transactions
The biggest thing that agents can do for their sellers is to handle all the paperwork and details of the sale. This means that the seller doesn’t have to worry about anything and they can continue living their life without having to worry about buyers backing out or details getting lost in translation.
However, this service does come at a price. Sellers need to be aware that their agent will be making a commission off of the final sale so it’s important not to try and save money by doing things like handling negotiations themselves. It’s also important to have your lawyer look over any contracts before signing them, as small mistakes can lead to bigger problems down the road.
Sometimes, sellers will get so caught up in the selling process that they forget to take into account who their buyers are. If you’re not comfortable with the buyer or their family, it’s best to walk away from the sale. This is not only good for you, but it’s also good for the buyer. No one wants to buy a home where they feel uncomfortable or unwelcome.