7 mistakes to avoid when selling your property
Selling your property can be stressful enough without the added pressure of things going wrong.
Regardless of why you’re selling your property, there are many potential pitfalls that hinder the success of a speedy sale.
For that reason, we’ve put together a guide to help you maximise the chance of getting the offer you need – without all the drama.
Key takeaways when selling your property
- Don’t let emotions influence the price of your property
- Research the right agent to sell your property
- Be ready to sell by appointing the right solicitor or conveyancer
- Check professional photography is included in the sales package
- Take the time to tidy your property for prospective buyers
- Don’t automatically accept the highest bid for your property
Selling with emotions
Your home is more than just four walls to you. And for that reason, you may tend to lean on the aggressive side when it comes to pricing your property.
But instead of letting emotions blur your judgement, we suggest you change your mindset from a homeowner to a businessperson. Because if you don’t, there’s a risk you’ll miss your chance to sell.
If you need a little more convincing accurate pricing is the key to a successful sale, check out this research conducted by Zoopla.
Among the many sobering stats, you’ll find that homes priced in line with realistic market values sell 58 days quicker than overpriced equivalents.
And on average, over-priced properties sell for £12,000 less than their asking price. That’s some serious money!
The worst offenders for over-priced properties are reported to be Blackburn and Oxford, taking an average of 90 days longer to receive an offer due to inaccurate pricing.
Want a successful sale? List your property at the right price. Let’s move on.
Find the right agent
Selling your property can be a stressful and time-consuming experience. And for that reason, it’s easy to rush into decisions you might later regret.
So before you hand over the keys to the first agent you meet, we advise you ask a minimum of three different agents to value your property.
During the valuation, assess how enthusiastic they are about your property. See if they spot any selling features and ask questions why they think your home is worth what they’ve suggested.
And remember, don’t just go for the highest valuation. Because if it seems too good to be true, it probably is.
Our guide on ‘How to find the right estate agent for you’ will give you more tips on how to make the right choice.
Delaying the appointment of a solicitor
When your estate agent calls with the offer you’ve been waiting for, you’ll need a solicitor to draw up contracts and transfer cash.
So to be sale-ready, it’s a good idea to appoint a solicitor or conveyancer as soon as you decide to put your property on the market.
It means you’re ready to move as soon as you get an offer.
If you need help finding a local solicitor or conveyancer, just let us know during your valuation. We’d be glad to help.
Skimping on professional photography
With the world turning more digital, high-quality visuals are an absolute must when selling your property.
Crisp and clear images with plenty of natural light help to secure more online and in-person viewings by showcasing the all-important selling features of your home.
Most estate agents will offer photography as part of their selling package. But that doesn’t mean you’ll get the photos that show your property in its best light.
So before you say ‘yes’ to uploading your property online, ask your estate agent to show you the images of your property. If you’re not happy with them, tell them. It’s your decision.
At Open House, we enhance your property listing by offering a 360º virtual tour option as part of our selling package.
It means prospective buyers can take a high-definition virtual viewing of your home – without disrupting your day.
Putting off your mortgage application
Understandably, there’s a lot to think about when selling your home. But before you put your house on the market, make sure you are approved to buy a new one.
If you’re moving to a pricier property, check you can borrow what you need from a lender to get the deal completed.
And should your new property cost the same or less than the property you’re selling, ask your lender if you can transfer your mortgage through a process called ‘porting’.
If you want any more guidance, give us a call. We’d be glad to help.
Forgetting to clean your property
It takes less than three seconds to make a first impression. So when prospective buyers view your property, cluttered rooms and dirty surfaces are a huge turn-off.
If you want to receive the highest offers, showcase your property in its best colours. Give prospective buyers a blank canvas to visualise how their new lives will look in your property.
If there’s a mark on your wall, touch it up. If the garden’s overgrown, fire up the lawnmower. Show the prospective buyer you’re serious about selling your home and the offers will follow.
After all, a little dusting and vacuuming could be the difference between a prospect walking away or buying your property.
Accepting the highest bid
You might think accepting the highest bid is a bit of a no-brainer. But you’ll be surprised how often it can turn out to be a poisoned chalice.
Yes, price is important, but so is the security of your sale. That’s why you should take the time to weigh up the variables from every offer received on your property.
For example, it could be the case your highest-offer buyer is under pressure to sell quickly, whereas first-time buyers, cash buyers and buy-to-let buyers don’t rely on a chain to complete your sale.
Ultimately, it’s a question of balancing your best offers with the likelihood of a sale completing on time.
At Open House, we pre-qualify all buyers before a single viewing takes place with proof of funds or a pre-approval letter. It means we don’t waste your time – or ours.
