5 Mistakes People Commit When Selling Property without Agent
Misreading how to sell your property without agent can prove very expensive for you and your family. Your house is one of your biggest investments and it is important to know these common mistakes that people make when they are in the process of selling their property without agent’s commission.
Below we share with you ordinary omissions committed by amateurs or first time property sellers so that you are better equipped with handy information when selling your home in a DIY style. In case you are also looking for ways to sell your HDB property in a profitable way, you can read your earlier article for same.
1) Advertising your property at a higher price.
You might think that it doesn’t matter (wouldn’t have any negative connotations) to sell your property at a little higher price. You might think that you deserve the higher price as per your self-valuation of your property. You may also think that as per customers, you would later negotiate the rate so that should not be a big problem.
The problem with this approach is that, people wouldn’t look at your property advertisement as much as they would if it was priced properly. It is possible that people don’t at all look at the property and the wrong price would deter prospects from contacting you. Also avoid extreme negotiations with customers so that they can take you more seriously and develop faith.
2) Advertising your property at a lower price.
This one is also common among sellers who wish to sell their property quickly. They might underestimate the value of their property (especially after hearing some negative aspects of their property) or during a low performing economy.
Make a good valuation of the location of the property and nearby facilities. Just make sure that you take care of first impressions during house viewing. Remember this is very crucial since, your customers would weigh the value of the property with what they see and notice in your space (is it a good/great place to live as it is?). Consider quick and small fixes to make the house more upbeat, clean, warm, and if possible special. Watch out for wall paint, floor carpets, bathrooms, and the front of your house.
Once the prospects like what they are seeing, they might take your offer without any problem.
3) Not paying attention to the price you are selling your property.
Let’s say, you are too busy or think that it wouldn’t matter so much how you price your property. Once customers contact you, you can decide on the actual price. Again this might make you look unprofessional and unaware as you don’t know the real value of your property.
People who are looking to purchase a property are very much aware of house rates prevalent and they will try to not waste their time in considering a listing that is not priced right. Consider all the aspects of your house and price your house correctly (without being emotional either) would help you sell your property quickly and profitably.
4) Getting emotional instead of practical.
Feeling a lot of feelings and attachment is like being emotional about something. When you are selling your home, try to avoid being emotional about it. This way you would be able to act like a sales person and like a business person.
Other suggestions include to remove your family photos with generic ones, and de-clutter your house so that viewers can see the house as “ready to move” into place. Make it as comfortable as possible for viewers to see everything, and take any feedback in a healthy way.
5) Not considering the first or second offers seriously.
A lot of times, first time sellers miss on capitalizing the first or second offer, thinking in future they would have far better offers. It is important to consider the first offer itself and look into the offer attentively. Every offer made to you is critical. Always weight each offer carefully before rejecting it.
Try to sell the property within first 2-3 months instead of having it for sale for months. The value of the property might depreciate because it has been “on sale” for long. Hope these points will help you avoid the major mistakes many people make while selling your property without agent.