Your home is your most valuable asset, so you want to make sure you sell it wisely if you plan to put it on the market. The key decision now is whether to sell your home privately or through an estate agent.
In this guide, we highlight the essential things you need to know when it comes to enlisting the help of an estate agent as well as selling privately to ensure a successful property sale.
Here’s what this guide covers:
- Selling your home privately
- Selling your home with an estate agent
- Mistakes to avoid if you want a successful property sale
Selling your home privately
Can you sell your home privately? This is a common question from first-time sellers. You certainly can. You must first decide on an appropriate selling price. Properties that are priced competitively have a tendency to sell quickly. Undervalue your home, and you might lose money. Overvalue it, and your property will sit on the market for a while.
Research your area to get a better understanding of what your property could be worth. Since you've likely been living in the neighbourhood, you'll be able to provide relevant knowledge about the property and area, which potential homebuyers would appreciate.
In order to make buyers aware of your sale, you must advertise your home using the correct marketing channels. A well-kept home at the right price with an intriguing description and excellent photos could draw a lot of interest.
Selling your home privately gives you complete control over the process. You'll also need to set aside time to reply to inquiries from possible purchasers and schedule viewings with interested parties.
To complete the deal, you must have the parties sign an offer to purchase (OTP) agreement and get a number of compliance certifications, such as an electrical certificate of compliance (ECOC) and a rates clearance certificate (RCC). The responsibility of finding a transfer attorney will also fall to you.
The biggest advantage of selling your home privately is that you won't have to pay a commission, making it more cost-effective. One drawback of selling your house privately is that you probably lack the knowledge and experience that an experienced real estate agent has. This can make it challenging for you to market your property on your own, screen potential buyers, respond to inquiries, and stage your home for sale.
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Selling your home with an estate agent
A real estate agent acts as a middleman between a seller and a buyer. You don't need to stress about advertising your house, completing the legal paperwork, or staging a home sale. They will support you in all of your financial and legal challenges, which may simplify the procedure. Agencies that help with professional photography and property marketing can also save you time.
Once you've made the decision to sell through an agent, get in touch with a Seeff representative in your area. They will most likely have access to a group of potential buyers that are interested in your home. Additionally, they will be able to provide you with a better understanding of market-related property prices since they deal with real estate on a daily basis and have access to industry resources.
Mistakes to avoid if you want a successful property sale
To guarantee a successful sale and a return on your investment, you'll want to steer clear of as many pitfalls as you can. Inexperienced property sellers frequently make foolish mistakes that cause them to lose money. Avoid these typical mistakes as you prepare for your home sale.
- Don’t overprice your home
There is nothing more stressful than pricing your property high and only receiving a few offers. Additionally, you don't want the house to be on the market for weeks. The listing for your house will ultimately get stale if it remains on the market, and a sale may not ever take place. Even if you manage to find a buyer who is prepared to overpay, they can have trouble getting a bank to loan them money for an expensive property. When trying to sell your home, start with a reasonable market price and go from there.
- Don’t ignore your agent’s advice
First impressions matter, particularly when selling a home. You don't want to display it in a poor state of repair. This can cause buyers to request a reduction from your asking price.
Don't let your own preferences overpower the upkeep and neutrality of your home. When it comes to house improvements, heed your agent's advice because doing so will result in the sale of your property.
If your real estate agent suggests that you replace a broken window, paint a wall, or fix those bathroom taps, heed their recommendations. Your agent may also advise you to cut your asking price since it isn't reasonable given the situation of the real estate market.
- Don’t forget to stage your home
Taking photos and videos of a staged home will instantly attract buyers. Staging your home for a quick sale will also appeal to buyers when they come over to view your home.
De-clutter your home and remove all your personal items. Make sure your home is tidy and clean, and that the walls are painted or completely cleaned. The same may be said for the outside garden spaces.
- Avoid making viewings challenging
When selling a property, be accommodating for viewings and keep your house clean at all times. Avoid being there during a viewing since it could intimidate prospective buyers.
The majority of buyers are impatient with a difficult seller; therefore, you wouldn't want to turn down an offer by being unaccommodating.
- Don’t leave your pets inside
Unruly pets are the most unappealing thing to potential buyers, especially if they dislike animals. Even those who adore pets can find it bothersome if dogs or cats interrupt them while they are seeing your property. While some individuals are allergic to cats, others may be terrified of dogs.
Always keep your pets away from viewings. Also, make sure there are no pet hairs or scents in your house.
- Don’t disguise problem areas
When getting ready to sell your home, don't take any shortcuts. A buyer will recognise bubbling paint right away and realise that it is concealing the underlying mould issue. Instead, have the damaged area fully fixed before painting it. Don't cover up damaged windows or doors with carefully placed drapes; instead, fix them entirely.
Make any structural problems known to your real estate agent and potential purchasers. When buyers notice cover-ups, they frequently show suspicion. Even the smallest cover-up might give rise to concerns that the property might be experiencing other problems. Give them no justification for lowering your price; otherwise, you risk losing the sale.
If you want to sell your home and receive the maximum return on your investment, get in touch with a sales specialist at Seeff. Not only will they give you the best advice about staging your home for a quick sale, but they will also assist you with the legal formalities.
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