
At the moment, many sellers in South Africa (and the the rest of the world) find that their properties take a little longer to sell. Many people do not know that even in average markets only 40% of homes sell during the initial listing period. This means that a full 60% remain unsold. The reason for this is often found in the unrealistic prices that sellers want for their homes. Unfortunately an unrealistic asking price is just one of the common mistakes sellers make. Below are other mistakes sellers often make when selling their home:
1) Sellers often believe or choose the agent who prices their homes the highest. Remember, a true property professional will price your home at a price that will actually sell your home in the shortest amount of time at the highest possible price. The keywords here are “possible price”.
2) Sellers often select an agent based on the agent’s valuation rather than their track record or ability to properly market their home. Be aware of an agent who tells you just what you want to hear. The one thing you probably won’t hear from that agent is “Sold”.
3) Sellers often price their homes too high above the market value when their homes hit the market at first. This initial marketing period is the most critical time as this is the first impression your home will make on potential buyers. You want that impression to be the right one. Buyers walk circles around houses that stay on the market for too long.
4) Sellers often give a mandate to the first agent that knocks on their doors. We suggest you interview 2 or 3 agents to provide you with a marketing plan or proposal. Choose the best one or the best two.
5) Sellers often neglect to check out the other properties for sale in the same area. Remember, these properties are “competing” with your property for the same potential buyers. Make sure you give your property a fighting chance by pricing it right and dressing it up nicely.
7) Sellers often turn down the first offer because they get over-confident and want to wait for a better offer. A true property professional will tell you that the first offer is often the best offer.
8) Sellers often place a home on the market before it is in the best condition. See number 5 above. Your home may be competing with other homes in the same area that look much better. It is amazing what a fresh coat of paint and weeding the garden can do for your property’s selling potential.
9) Sellers are often unwilling to give proper viewing access to potential buyers. Of course it is unpleasant to have strangers walking through your house, but would you buy a house without having a proper look around? People want to see what they are buying.
10) Sellers often want to remove permanent fixtures from the property. For example: The buyer loved the jacuzzi on the deck. The seller wants to take the jacuzzi with her when she moves moves. We suggest the seller leaves the jacuzzi if removing it will put the sale in danger. The seller can always get another one with the proceeds of her property that was sold.
Talk to us if you want to avoid these and other mistakes that may prevent your house from being sold.
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