When you have found the perfect home that you want to live in, you would be excited to make the move as soon as possible, and to make that happen, you’ll have to make a quick sale of your home. Doing this seems like a piece of cake, doesn’t it? After all, so many people buy and sell their property in the UK at such great rates, and who wouldn’t want to buy your perfect home? If that is what you have in mind before selling your home, it’s time for a reality check.
Selling property is a tough job, which is exactly why it is a job. Real estate agents are there to make the process easy for you. However, they can only do their part. It is up to you to grab the attention of the prospective buyer at the viewing and to make your house presentable and enticing so as to increase its value. The responsibility of the agent is to get the best price for the home that you have, and it is your responsibility to make the value of your house greater with updates, repairs and whatnot. Although it is great to see that people in Britain are getting more educated about the proper way to sell their homes, but there are still the seven deadly mistakes that they tend to make, which we’ll name as the seven deadly sins of selling a home. Read on to make sure that you are not making any of these mistakes!
Deadly Sin # 1: Making the Sale Individually or Through a Traditional Real Estate Agent
Many homeowners get involved emotionally with the selling process which blights their judgement and prompts them into making bad decisions. When they get the result of their decisions, they get surprised as to how that happened. This emotional involvement prevails in the individuals who sell the house on their own without any help from real estate agents. The basis for this emotional involvement is that the people do not have an outside objective view (a real estate agent) about how their house looks and what should the price be for it, and they overestimate the price of their property. Later on, their first objective viewer is the prospective buyer who would see all the problems that you have turned a blind eye to, and would reject the house.
Now, if you think that choosing a brick-and-mortar estate agent would help you get an educated outlook about your house, think again! Your local agent would only deal with the area around your neighbourhood, and their knowledge would be limited. So, if there is a highly valuable client who is moving from a nearby city, and is able to pay more for the features that you are offering, your traditional estate agent would not know how to deal with it, and you would end up selling your house in an amount that is lower than what you could have received.
In order to avoid falling prey to this deadly sin, you should get an online estate agent to help you make a profitable sale. These agents have a huge variety of clients and they are well-versed with the trends that are prevalent in the market. They will also be able to market your house in the best way possible—by listing it online property portals such as Rightmove, Zoopla, PrimeLocation and NeedAProperty. These portals are where the most valuable and serious buyers are, and marketing it there would make you get in touch with the best buyers.
Deadly Sin # 2: No Repairs, No Updates, No Safety Measures
If you think that your house is perfect as it is, and do not make any efforts to make it better, then you’ll find yourself sorely disappointed when visitors come to view your house. Only de-cluttering your house and cleaning the basics is not enough. If your prospective clients see the peeling paint, leaking pipes, frayed electrical wires and other such damages around your house, it will give the impression that you are lazy and have not taken proper care of your house. They would also start to wonder if there are damages that they can’t see, and would be put-off.
You need to take care of the necessary repairs before they turn into bigger problems and create a negative impression on the people who visit your home for a viewing. Here is a handy checklist for you to check if you have to take care of any of these damages or not:
- Bad odour
- Bowing walls
- Broken or missing roof tiles
- Collapsed slab/ floor
- Cracks in the walls
- Infestation of pests
- Latches which are not working
- Leaking faucets
- Leaking or sagging roof
- Loose tiles
- Mouldy sealants in bathrooms and kitchen
- Peeling paint
- Rotten timber
- Squeaky doors, windows and/ or stairs
- Unstable chimney stack
Apart from the repairs, you also need to make some upgrades in your home so that you can boast of offering more features. For instance, you could add a central heating system in your home if you don’t already have that. Here is a list of some of the upgrades that you can make to your house to make it more valuable. The higher the value of your house, the higher the price you can set. Make sure that you choose the upgrades that fall into your budget.
- Add storage space around the house
- Basement conversion
- Create a parking area
- Invest in a conservatory
- Invest in the improvement of your garden
- Loft conversion
- Paint the house
- Remodel the kitchen
- Replace windows
- Squeeze in an extra bathroom
- Update the plumbing and electricity
For more details about how to add value to your home, you can read this article here.
Deadly Sin # 3: Having a Cluttered, Smelly House and Telling Sob Stories about Why You are Selling Your Home
A cluttered house at a viewing is not a great sight. All the upgrades that you have made and all the renovation that you have put your resources into will not be useful if the house is dirty and cluttered. Make sure that all your laundry is where it should be (take them off that chair!) and the other tid-bits are not lying around the house. If you are unsure about how to set the house, have it staged, and you can sell your house faster and make more profits.
A smelly house is another proven method to ruin a deal. If your house smells like cigarette smoke or has any other nasty odours, then you should try o remove that smell before the viewing. Good options for accomplishing this are to bring in some fresh flowers and to bake bread so that the house smells fresh.
If you are selling your property for personal reasons, keep them to yourself. Your sob story will not gain the sympathy of the people who are visiting your home for a viewing.
Deadly Sin # 4: Setting the Price of the House Too High or Too Low
Setting the price bar too high or too low will only result in creating a huge barrier against a profitable sale for your home. Let us discuss how each of these cases can affect the sale:
1. Setting the price bar too low
Setting the price of your home too low will end up with you on the losing side. You will not be able to achieve the profits that you could have easily received if you had only made the right choice and researched carefully about how much your house is really worth.
To make sure that you don’t make this mistake, you should always check with your online estate agent to make sure that you have set the right price for your home. You can use the online tools like the Zoopla Estimate to get a close estimate which you can later adjust.
2. Setting the price bar too high
You may have bought the house for a huge sum of money, but it doesn’t mean that the price would remain the same, or more. You always need to get a proper valuation done for your home before you set a final price for it. You need to make sure that the money you are setting for your home is the right price for the features that you are offering, the type of house that you have, and the neighbourhood that you live in. Apart from the Zoopla Estimate, you can also get help from your trusty internet estate agent. Skilled online agents offer you the service of valuation, like this free property valuation at the iMoveEstates.
Deadly Sin # 5: Personalised Décor and Unprofessional Behaviour at a Viewing
Many homeowners do not realise that their behaviours are affecting the sale of their home adversely. Around one in every five viewers in the UK are faced with “something unusual” when they are being shown around the home. The people who are visiting your home are looking for a place that THEY are considering living in, which makes the personalised décor in your house completely useless. Clear away any of the decorations that are specifically related to your interests in order to stay away from committing this deadly sin.
At the time of the viewing, you should not hover over the visitors when they are looking around and are discussing about the rooms. Give them the space they need so they can relax and look around without having you following them around like a shadow.
You might think that hovering over them would make you seem helpful, but it does the opposite job of repelling them and making them feel unwelcome. The best way to show around visitors is to give them a quick tour and let them roam around while you busy yourself somewhere else. Let the visitors know where you’ll be and wait for them till they make their decision in comfort.
Deadly Sin # 6: Bad Timing, Bad Pictures
Unless there is an emergency and you just have to make the sale as soon as possible, timing the sale of your home in the months when it is not profitable would not generate many profits for you. Like all businesses, the real estate market fluctuates depending on the demands of the consumers. During the summer when most of the people are off for a vacation, and during winter when preparations for Christmas are at their peak, selling a home is not profitable as there is less demand. This means that there would be fewer buyers than sellers, and to target the few buyers, you would have to bring down your price.
In autumn and mid-spring, people usually have free time on their hands and are able to have a look around houses that are up for sale. Therefore, this is the best time to make a sale as more people are willing to buy.
Lastly, always talk to your internet estate agent about the best time to make a sale. If you are in a hurry and need to sell your property fast, the agent would guide you into making the best choice.
Deadly Sin # 7: No Negotiation or Negotiation with Dishonesty
Refusing to negotiate with the buyer would only turn away viable buyers from you. Plan from the beginning about how much you would be willing to negotiate down so that you won’t be worried later on. Moreover, if you try to lie to the buyer to make sure that they buy your house, such as painting over the walls with damp and trying to convince the buyer that there is no damp in your home, you will be caught in the inspection of the home and the deal would be off. It is better to come clean about the problems in your home beforehand and not try to lie about them.
If you are looking forward to make a sale without committing any of these seven deadly sins of selling your property, then contact iMoveEstates today!