5 mistakes people make when selling their home

SELLING YOUR PROPERTY IN ADELAIDE? MAKE SURE YOU AVOID THESE 5 COMMON MISTAKES…

Every property is different, and selling isn’t easy. The housing market is constantly evolving which can make the selling process confusing, so before you start pricing your property for sale make sure you avoid these common mistakes…

 

1. FAILING TO UNDERSTAND THE CURRENT REAL ESTATE MARKET IN ADELAIDE

Pricing your home can be difficult, as there are so many elements that have to be considered. Location, property size and local amenities are amongst many factors that will determine the price of your home, but one key factor that many people make the mistake of overlooking is researching the current house market in Adelaide.

It’s recommended that you research similar local listings including properties that have sold recently, new properties to the market, and properties that have been active for a long period of time to understand what the right price for your home could be.

But a property that’s struggling to sell doesn’t necessarily mean it has been priced incorrectly – sometimes the presentation, selling channel or even the target buyer profile isn’t quite right. This is where your agent can help, through understanding the needs of prospective buyers and getting direct feedback. With their expertise, your home can be marketed correctly to attract the right buyers.

 

2. NOT UNDERSTANDING YOUR POTENTIAL BUYER

Developing a campaign is key for a successful sale. Creating an intended buyer profile to tailor the pitch to is very important, as your real estate agent will be able to highlight the features of your property that appeal most to the potential buyer.

Creating the campaign will also give you an understanding of what channel you should be advertising your property through. For example, if you’re looking to attract first time buyers and young couples, you may want to invest in a social media campaign over a print campaign.

 

3. RENOVATIONS – THE GOOD, THE BAD AND THE UGLY

Your home needs to look its best when preparing for sale – inside and out. No seller wants to spend too much on renovations and fear losing money, but problems and quirks need to be addressed… after all, most buyers aren’t looking for a renovation project. If the house doesn’t look and function at its best, potential buyers may avoid your property altogether.

Our advice – less is more. Not only will this avoid going over your renovation budget, but it will provide a blank canvas for prospective buyers to imagine their belongings and family living in. Decluttering and working towards a minimal aesthetic is key – this will make your property look tidier and rooms look more spacious. Emphasising the design of the house and highlighting the quality of new fixtures and utilities always attracts buyers when it comes to sale time.

 

4. NOT CONSIDERING ALL SELLING METHODS

Auctioning is a very popular home-selling method, and it’s clear why. The competitive atmosphere on the day can drive demand and the sale price of your property up. But the auction isn’t the only way to sell your property and is not always the best suited to your sale campaign.

Considering the current selling market, as mentioned before, is key in this process. Auctions tend to achieve the best results when there’s a high buyer demand and a lower level of supply on the market than usual. But equally, if the property is particularly unique or if the market becomes more saturated, other selling methods like off-market sales may be more successful and sell just as fast.

 

5. NOT USING A LOCAL REAL ESTATE AGENT TO YOUR ADVANTAGE

Seeking the help of a real estate agent in Adelaide has its benefits. Having someone that understands the intricacies of not only the property but also the market and buyer can help you get the best price for your house.

Partnering with an agent will help you navigate the ever-changing market and give you an advantage when it comes to sale time. The right agent will guide you past these common mistakes sellers often make and prepare the best campaign to sell your property.

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