If you're already wading into the house market and have had a look at all the various facts and figures you need to keep track of, you’ll already know that getting your house sold for the price that you’re looking for is not always as easy as it sounds. It’s often not a case of simply putting an advert up and assuming that the right buyer will bite straight away – and don’t forget, there’s estate agents, banks, councils and all manner of middlemen that you may need to take into account for before you can trade your bricks and mortar for a nice return.
Let’s have a look at some key areas you need to be wary of when it comes to selling your home.
Getting the pricing right
Getting the value of your property correct first time is either almost impossible or unbelievably lucky – and one of the biggest mistakes you can make early on in the process is getting your asking price well out of sync with the rest of the market. This means, believe it or not, asking too much or too little – buyers will naturally be repelled by blatantly inflated prices, and by underpricing your home, you’re underselling yourself.
This is why it’s crucial that you have a strong core of advisors handy – property experts, trend analysts, and of course an estate agent or two – so that you can tune your price to an acceptable level for both parties.
Don't seal the deal before it's done
Fixing your price, regardless of the first point, is another no-no. By insisting upon a rock-hard reserve fee, you are effectively cutting out the majority of potential buyers that you’re looking to appeal to! Announcing a fixed rate fee allows no room for negotiation between yourself, your estate agent and your buyer, and this is crucial – you cannot go into the housing game without assuming that some negotiation will take place.
Find an estate agent that suits your needs
No matter where you look for advice on selling your home
, this point cannot be stressed enough – when it comes to handling your property, do not simply go with the first offer you receive from an agent, regardless of all the bells and whistles. It is essential that you know the competition, the pros and cons of your local agencies, and that you ultimately sign your home over to a salesperson who knows the local trade well and offers you all the benefits your require – without any nasty surprises.
You may find that some estate agents offer an extremely open approach to clients and will willingly welcome any interest – this is all well and good, but consider if this approach ‘gives’ you more for your sale. With each give, there is take – and keeping an eye out for the balance is very important.
Read the small print!
Out of all the points we can advise, it all boils down to this – as with everything else that comes with a contract, read the fine print! You may not make a habit of paying attention to terms and conditions, but this is a great habit to get out of. Imagine finding your perfect estate agent, having been convinced that they’re offering you the rates and techniques you need – only to be caught by a tiny one-sentence clause in the small print that disrupts your sale halfway into the process.
Consumers, in whatever business, are in fact protected by such terms and conditions, and by signing the paperwork, you agree that you understand the ‘gives’ and ‘takes’ of the business you’re signing up with. To ignore such clauses could lead you into a difficult position later on in the game, so it’s important to get prepared now and back out of any agreements before you sign on the dotted line!
These are just a few of the cautionary points we have to make regarding selling – next week, we will be focusing on what you should be on the lookout for as a buyer in the market.
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