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Mistakes when Selling a Property

Avoid these common mistakes when selling your home.

You want the best price in the shortest time.

Choose a real estate agent understands what you want to achieve, and then work out a marketing plan and fee that you are both comfortable with to get the premium price.

What is the best price for your property?

The buyers ultimately determine what your property is worth, use an agent with strong negotiation skills, present the property to a wide audience and then ask for their best offer. Providing you create a competitive situation amongst the buyers you will very quickly find out the market value and then you will choose to accept what is being offered or wait for another time.

Can I price my property too low?

Definitely not! If the property’s price is perceived to be low buyers will be lining up to negotiate to buy it at what they see to be real value to them. The extra attention can result in a number of higher offers due to competition amongst the buyers. The end result can often be above expectations.

Results of a Failed Sale

A property that has been on the market for a while tends to get discounted as old stock. Buyers natural instinct is to shop as they do with retail expect to get a 20% or more discount off the list price. If this happens regroup and start again with a aggressive strategy.

Avoid Significant Losses

One of the best tools at your disposal is a real estate agent who will help you obtain a fair market value for your property. The agent must have the ability to negotiate strongly on your behalf to get the buyers to their walk away price. Often you can test the agents negotiation skills in the appraisal process particularly when it come to discussing their fee. You will get a sense how strongly the agent is able to negotiate based on how they fight to get a fair fee for the service they provide.

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