There are a lot of things to consider when selling your property, here’s five tips we’ve debunked to get you concentrating on what really matters.
1. You can drive up the value of your home by overpricing it - WRONG!
An overpriced property has a much greater chance of sitting on the market for longer, especially if it’s unrealistically priced above other similar properties in the local area. You need to choose a price range that is compatible with the current market, leaves room for negotiation, but also encourages people to come and see it.
Get an appraisal, and research the market – utilise our FREE suburb report. Get advice from your agent, and then set your price realistically.
2. The more open inspections you have the better your chance of selling – WRONG!
Organising open houses is almost a science and you should consult closely with your agent about the best days and times to schedule them. Strategic scheduling gives you a better chance of attracting more genuine buyers.
Less is more and a refined and focused schedule should be more than enough to attract serious committed buyers to see your property.
3. If the price isn’t what you want, you should hold out for a better offer – WRONG!
As long as the price is in line with market expectations and your future investment goals, there is no reason to decline. Never take the offer you’ve received for granted.
The property market is unreliable at times and the longer your house sits on the market, the more it devalues.
4. The more you spend on fixing up the property before selling it, the better price you’ll get – WRONG!
It is true that you should spend some time and money on making improvements to prepare your house for sale. Tidy the property and fix minor repairs. It’s not necessary to spend a fortune as money spent won’t necessarily be reflected in the sale price.
Any improvements made should be practical and improve aesthetics. You’ll be surprised how much difference a few simple improvements can make.
5. Getting building and pest inspections is an extra expense that buyers should take care of – WRONG!
Getting all the relevant building and pest inspections before you put your house on the market is essential if you want to get the best price possible for your property.
If you don’t find the issue, someone else will. Now you’ve just given that someone opportunity to bargain down your asking price and completely undermine the value of your property.
Bottom line is, having the information you need, making smart decisions, a transparent approach and a property in top condition, brings fortitude to your position as well as your asking price.