Five Common Mistakes People Make When Marketing Their Homes
We all have an emotional attachment to our homes and, like anything else we love, it’s sometimes hard to see its faults in the way a neutral observer does.
When you’re selling your home, you are actually inviting strangers to pass judgement on something you may have spent years making your own, something that reflects your tastes and personality.
We get it – you’ve filled your home with memories, so when someone views it and criticises it, it’s hard not to take it personally; but don’t. Remember that this is now a business transaction.
You may think that your home is worth more than the potential buyer does, but unless you see it through their eyes, you may end up missing out on the sale or having to settle for less than you should.
Here are a few tips to help take the personal factor out of selling your home so you can get the very best deal and you can get on with building a new home.
Personalising your home
You may love that wishing well in the front garden or plastic shark on the roof, but it may not be to everyone’s taste. A survey by Churchill Home Insurance confirmed the importance of kerb appeal when selling your home.
Unsightly décor or features reduce the value of a home by £29,000 on average. The biggest turn-offs for potential buyers are flagpoles and brightly painted facades, followed by Christmas lights left up all year, with garden gnomes coming in third. The aim is to attract the widest range of interest, rather than niche enthusiasts!
Refusing to negotiate with buyers
Your house is perfect. Why would you settle for less than the valuation? Well, negotiation is an integral part of buying and selling a house. Not to take part would be like refusing to barter in a Middle Eastern market.
Don’t be offended if people come in with a slightly lower offer, especially if your property has been on the market for a while. If you don’t have room to manoeuvre, consider throwing in some household appliances and guaranteeing to get some repairs done before exchange.
Not pricing your home correctly
Pricing your property too low for a quick sale and you’re giving away thousands of pounds, but setting too high a price and you could lose out on offers. Some sellers believe you should set a price that leaves you room to negotiate, but in our experience this isn’t true. Price your home realistically and you’ll have a solid negotiating position.
Living with that that broken light or leaky tap can lead to a lower offer or even no offer at all. Look around your home and make a list of all necessary repairs for fixing. Not only does the potential buyer see a list of jobs to be done if they buy, but they may wonder what essential maintenance you may have skipped could cause serious problems for them in the future.
If you can’t fix something, be honest, don’t hide it and offer to take the cost of repair into account in the asking price.
Keeping clutter on display
Nobody likes clutter, let alone someone else’s clutter. Clear your home and make it easy for a potential buyer to imagine their own family in the space. Most buyers prefer a house to be in a ‘move in’ condition even if they plan to renovate after sale.
Need some help?
Of course, we believe the worst mistake you can make is not choose an experienced estate agent with good local knowledge. Selling a home requires proven skills and experience do you want someone who knows the local area like the back of their hand. Make sure you research and ask for recommendations for the best estate agent for you.
A good estate agent will also look at your home with the same eyes as a potential buyer and be able to make some suggestions on getting a good offer.
If you’d like some honest, independent advice about the best way to market your home in the Abingdon area, then contact Simpsons of Abingdon or ring 01235 520079. We’d be happy to help.