As you all know, a successful real estate investment is to hold your property as long as possible.
But sometimes you have to sell.
Maybe because there are too many family members, the family is not old enough, or the opposite, all the children have moved away.
Or, investment property doesn't perform well, so you make a wise decision to remove it from your portfolio and buy investment-grade assets instead.
Whatever your motivation, it is important not to make the following common mistakes when selling a property, so that you can sell the property at the best price and minimize your stress.
01 inappropriate intermediary
Choosing an intermediary to sell your house may be a very personal decision.
This is because we don't necessarily get along with everyone, so people who fit your character are not necessarily suitable for others.
In addition to looking for a sales agent who has the ability to build a good job relationship, you should also see if he has had successful experience in your area recently.
What you need is an expert who knows the local market like the back of your hand, not a person who plays an expert.
In order to choose the right intermediary, you need to collect some data and meet with different agents in person.
Do not choose a flashy intermediary, you should choose an intermediary with a strong marketing philosophy to sell your house, but also have enough experience in the regional market.
02 not prepared
Of course, you may think your home is your castle, but buyers don't necessarily think so.
So, in order to improve buyers' affection for house, make sure that your house is in the best form.
This means doing well, inside and outside, and most sellers forget that the buyer's first impression of their house comes from the appearance, so they have to mow the lawn and tidy the garden.
You should also tidy up your room as much as possible, because you want buyers to imagine what happens after owning their own house, rather than seeing photo, where you spent your vacation with your family in Bali in 2002.
03 half heart and half meaning
Another common mistake is that the seller is not sincere.
What does this mean?
I mean, the seller is just testing the market.
Think about it. As long as you value the property to achieve your goal, why spend so much time selling the property to know the result.
If you just consider selling your house, you should spend more time studying the market before listing it.
In this way, you won't waste your intermediary time so that you won't be bad for yourself when you want to hire them again in the future.
04 do not understand the market
Sellers similar to half-hearted sellers are sellers who lack knowledge of the current market.
You should know who I'm talking about.
The sellers still see it as the peak of Sydney's real estate market and expect to sell properties at record prices, but in fact many buyers have disappeared.
Similarly, because they do not know the local market, sellers are unable to determine the price of the property.
Although your agent can and will advise you on the market situation, you will eventually have to decide what price to sell the property.
If you can't make a decision, no one can meet your price expectations because you didn't set the price from the start.
05 lack of flexibility
The problem is that, real estate is a negotiation game, when professional sales and purchase agents play a major role.
They buy and sell properties every day, so they have more experience in negotiations than sellers.
However, a common mistake for sellers is lack of flexibility.
Maybe they only want to sell for $650000, while the market says the property is worth only $550, 000, but they refuse to give in.
Sellers have rights insisting that they can reach any price, but do not expect to be able to sell the property successfully, if the pricing is unrealistic, because you ignore the market and intermediary feedback to you.
06 do your own (DIY)
Like refusing to negotiate, one of the most common mistakes since the Internet has been trying to sell your property in private.
To be sure, the Internet allows more people to know what property to sell, but real estate sales are not just advertising on the real estate portal, it's a lot more complicated.
Some of the biggest problems facing private sellers are how to price their properties correctly according to current market conditions and whether they have the ability to negotiate.
This is because, as I said at the beginning, they only see the good side of their house or investment property, not the bad side, but may be a dilapidated shack in the eyes of buyers.
There are third parties, such as a sales agent on your behalf, who can handle property sales correctly because they are objective and you are not.
The lesson from all this is that selling real estate is harder than it looks.
Professional sales agents earn commissions by providing you with advice on current market conditions, preparing to sell properties and negotiating on your behalf.
In this way, your property is more likely to be sold successfully than to be a property that no one is interested in and has been unable to sell for a long time.
