Putting your home on the market is a significant milestone that can come with its fair share of challenges. To ensure a smooth and successful sale, it's crucial to be aware of common mistakes that sellers often make.
1. SETTING AN UNREALISTIC PRICE
Setting the right asking price is paramount. While every seller naturally wants the best possible price for their property, overpricing can deter potential buyers. Work with a reputable estate agent to determine an accurate and competitive asking price based on market conditions and comparable sales.
2. NOT PREPARING THE HOUSE FOR SALE
Presentation matters. A clean, clutter-free, and well- decorated home has more appeal to potential buyers. Consider staging your home to help buyers envision themselves living there. Don't overlook kerb appeal; the exterior sets the first impression for what's inside.
3. NEGLECTING LEGALITIES
Ensure all legalities are in order before listing your property. Work closely with your solicitor to gather essential documents, such as title deeds, proof of compliance with planning obligations, property maps, and evidence of registration of services. Failing to have your paperwork in order can cause delays in the sale process.
4. FAILING TO MARKET EFFECTIVELY
Don't underestimate the power of effective marketing. High-quality photographs, detailed property descriptions, and a strong online presence are essential. Work with an agent who excels in marketing strategies to ensure your home reaches the right audience.
5. NEGLECTING NECESSARY REPAIRS
Ignoring significant maintenance issues can turn buyers away and decrease your home's value. Prioritise repairs that are likely to surface during a home inspection. Addressing these issues upfront can prevent delays and costly negotiations during the sale.
6. EMOTIONAL ATTACHMENT
Emotional attachment to your home can cloud your judgment and affect negotiations. Try to detach emotionally and approach the sale as a business transaction. Your real estate agent can provide an objective perspective.
Selling your home can be a complex process, but with careful planning, market awareness, and professional guidance, you can navigate it successfully. Avoiding these common pitfalls will help you achieve a smoother and more profitable home sale. Remember, partnering with an experienced estate agent is a crucial step in ensuring a successful outcome.
About the author
Majella Galvin is a chartered surveyor, estate agent and registered valuer at DNG Galvin Auctioneers Bandon. Majella holds a BSc in Real Estate & Valuations from the University College of Estate Management, Reading.
Her commitment to excellence is further underscored by her roles as Chairperson of the Society of Chartered Surveyors Ireland (Southern region) and her membership of the Royal Institution of Chartered Surveyors and the Society of Chartered Surveyors Ireland.
