So you must be someone who’s about to sell their home and want to avoid common mistakes to get the best deal, and that’s why you landed up here. The real estate market is often so unpredictable that something that’s equivalent to gold today can take the form of meager sand in no time. Individuals or entities who are into this business know the tactics to the most out of the business and they guide others with the same path too. We have dedicated today’s post to the 5 common mistakes that home sellers make while selling their home that you should avoid getting the best deal in the market.
First of all, never get emotional while selling your property. This is, we know, a very difficult thing to do, especially if it is your first home or your parents’ place of living, but this is a business deal too. Emotions when mixed in business make it less efficient and eventually lead to losses. That’s the major thing you should avoid before selling any property. Without further ado let’s dive into the main topic.
Setting unrealistic prices
Majority of the people when trying to sell their house set an unrealistic price in order to get maximum revenue from it. This doesn’t add any value in your sale rather it decreases the chances of attracting any potential buyers to your property and you ultimately make loss of yours.
For this purpose, you have to take a prior look into the real estate trends and market value of property in the locality to avoid this mistake. This can be done through large property portals working online, or you can just ask the neighborhood about the prices personally.
Unprofessional estate agent
The next thing that people miss here is they do not look up to an experienced, qualified and learned estate agent who has made any deals in that particular area. Although experience and qualification are not the key yardsticks for an estate agent to be successful, this does influence the sale closing. Estate agents with limited to no experience and inventory do mess with things and end up making a loss for you.
In major societies like Bahria Town, Defense Housing Authority, and Park View City, it is quite an easy task to get a professional and experienced estate agent. While, the same task is quite a lot difficult in societies or housing schemes other than these.
Listing a broken or damaged property
That’s another mistake that people make on a large scale. Like, they think that they are now selling the house and why should they spend more on it. That’s totally wrong, no one is going to buy your space if it is damaged, broken or maybe rotten, and in case someone doing BRRRR buys it, they are not going to offer a good price.
To avoid such a thing you should locate any essential damages in your house that should be repaired and get them repaired, so you get the best deal on your sale. In all these things, getting a fresh coat of paint before selling your house is one of the proven methods that improve the prospects of selling your property quicker and at a more expensive price.
Listing inappropriate pictures
Since most of the real estate sale, purchase, and rent business is done through the internet and people tend to buy more through the property portals, it has become crucial for you to place the ad more efficiently. We don’t say that we should hire a professional product photographer for taking pictures, but do keep certain things in mind before doing so.
Quality pictures include; use a good quality camera, capture from the most revealing angles, let ample light come to the room (open doors and windows, light any bulbs, etc.), and last but not least add a filter to your pictures. These things are crucial while capturing for sale as it improves the chances of a decision made by the interested buyer even before physically visiting your property.
Failing to negotiate
When all the above endeavors are done and your ad is successfully posted, it’s time to start getting calls from interested buyers. Most of the home buyers try to bid the least to get your property in a reasonable process, but it’s not necessary to close the deal on their demand. Rather, you can ask them to raise the bid to the amount where you feel it’s enough. You will also have to lower your guards and ask them to do the same because this is something necessary for a successful closing of a deal.
Your main task, while receiving such calls, is to filter potential buyers from the call-everyone squad. Doing so will save your time, money and efforts. Similarly, to avoid any confusion or ambiguity you also have to filter the agents that do nothing more than wasting your time and energy.
Selling property is sometimes a hectic and time-taking process; this often leads to closing an inappropriate deal or selling at a lesser price. We have listed the common mistakes that home sellers do while selling their property and you should avoid them in order to save yourself from falling prey to this trap.
If you have any other queries feel free to ask us through the comment section below, our expert team will be more than happy to assist you in any regard.