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Six common mistakes when selling your home

22 April, 2024 / Category: Blog

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Selling a home is the biggest transaction most people will make in a lifetime. It can be confusing and stressful, particularly if you haven’t considered all the elements carefully. Ideally, The process should be positive, yet sellers often unknowingly make errors that deter buyers and diminish the sale value. These mistakes, though common, are fundamental and should be avoided to ensure optimal outcomes when selling your home.

As a buyer’s advocate, when vendors make these mistakes, we can often secure the property for a better price. However, when we assume the role of a vendor advocate, guiding sellers through the sales process, our primary objective is to prevent these missteps and ensure the property sells for the highest possible price and under favourable conditions for the seller.

Curious about the six most prevalent blunders sellers make? Continue reading to discover how to ensure you fetch the best price for your property.

Mistake One: Getting emotionally involved

One of the greatest hurdles for vendors is becoming emotionally attached to the sale of their property. Once the decision to sell is made, the house must transition from being a beloved home to a marketable product. It’s essential to view the property through this lens, preparing it, marketing it, and pricing it accordingly.

Relying solely on personal sentiments or information found on the internet can be misleading. Instead, seek guidance professional advice about the value of your home, including a comparative market analysis. This analysis reveals the selling prices of similar homes in your area, offering an objective perspective. Setting the right price from the outset is crucial; it can significantly impact the speed of the sale and the final amount you receive at the closing.

Mistake Two: Incorrect pricing 

Overpricing your home can be a significant deterrent for potential buyers. Homes initially listed above market value often linger on the market longer and typically sell for less than they would have if priced accurately from the start. Consider this: when buyers encounter a home listed for a price above their market value, they’re more inclined to overlook it. Even if the price is later reduced, buyers may still hesitate to consider the property. Interest in a property typically declines after approximately 21 days on the market, emphasising the importance of appropriate pricing at the start of the sales campaign.

Achieving a fair price requires balancing your research, professional advice, the agent’s recommendations, and your financial objectives. Striking this balance ensures everyone is satisfied and helps maintain buyer interest in your property.

Mistake Three: Poor presentation

Styling your property is essential for a successful sales campaign, but it’s much more than just swapping out furniture. It’s about crafting an illusion, an aspirational dream that resonates with your target market. This involves understanding the preferences of potential buyers and the local demographics and integrating this knowledge into the presentation of your property.

A well-maintained property creates a positive first impression. Conversely, unfinished repairs or neglect can cause buyers to hesitate as they weigh the potential additional expenses, inconvenience, and effort required.

Mistake Four: Choosing the wrong selling agent

Have you selected the most proficient agent in your area, one who consistently achieves great results for properties they represent? Do they have a substantial network of eager buyers actively seeking properties similar to yours? If your chosen agent doesn’t meet these standards, you probably won’t realise the full potential value of your home.

While it might be tempting to enlist a family acquaintance in real estate, an agent known for their flashy sales pitches, or one offering the lowest commission, it’s crucial to prioritise someone with a proven track record in your area and with comparable properties. Equally important is finding someone with whom you feel at ease. Opting for the agent with the lowest commission doesn’t necessarily translate to the best outcome; it often yields the opposite result.

To make an informed decision, you must research local sales and auction clearance rates, and solicit quotes from various agents. Alternatively, you can seek assistance from a professional Vendor Advocate who can handle these tasks on your behalf.

Mistake Five: Poor marketing 

In today’s digital age, home buyers are browsing properties from the comfort of their couches, with a staggering 95% using the internet for their search. If your online listing photos resemble snapshots from an iPhone, you risk losing buyer interest before they even consider visiting in person. This underscores the significance of partnering with a seasoned professional who can effectively showcase your home. The impact of proper lighting and utilising a wide-angle lens can be truly transformative!

Understanding your target market and where they seek property information is key. It’s crucial to be strategic rather than haphazard in your advertising efforts. Digital platforms like offer accessible property searches at relatively low costs compared to traditional print media.

Mistake Six: Don’t get professional advice

On average, Australians tend to sell their homes every 10 to 12 years, although for many, this timeframe can stretch to as long as 25 years. Surprisingly, however, most individuals dedicate more time to researching which flat-screen TV to purchase than they do to finding the right professional advice to sell their home.

Attempting to navigate the complexities of real estate transactions without legal expertise is risky. Reviewing contracts with agents and managing the paperwork involved in sales agreements and property settlements should not be undertaken without proper training. Additionally, DIY conveyancing is often cited as one of the most significant mistakes sellers can make.

By engaging the services of a professional vendor advocate, you gain invaluable support throughout the entire sales process. This includes securing the most suitable selling agent and gaining access to expert conveyancing lawyers, property stylists, photographers, and other professionals.

Contact our Vendor Advocacy team today for a free 15-minute discovery call to discuss how we can help you achieve the best price and most favourable terms for the sale of your home.

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