Every buyer, seller and agent wants to reap the most benefits from a sale – that’s quite understandable. But with such a hot property market in Australia, the selling real estate costs are touching the skies, compelling every homeowner, realtor and buyer to make better thought-out decisions than before. In a competitive market, especially in cities like Sydney and Melbourne, blunders need to be minimized; better yet, completely eradicated to ensure every penny in question is utilised for the best.
This time around, we are going to look at 5 most common, unintentional blunders most sellers, buyers and real estate agents make tampering with an almost-perfect sale.
1. Picking The Wrong Real Estate Agent:
According to the Real Estate Institute of Australia, in 2013, there were a total of 64,698 real estate agents and 35,019 real estate businesses operating in Australia. The count has only risen ever since. With so many options to consider, it isn’t uncommon for homeowners to choose the wrong one for their property. Homeowners need to understand that not all real estate agents or businesses are the same. Thorough research needs to be conducted before settling on one. Subtract that research and you may very well never be able to pull off a great bid despite owning an ideal property. Ensure that the person you trust your property with is in fact trustworthy. Don’t hire someone only because they are family-friends or referrals from co-workers. Do your own research.
2. Taking Out All Your Furniture:
When preparing for an open house, don’t leave the place completely vacant. Buyers like to envision themselves living in the place – you need to help them do that. Leaving a few pieces of furniture gives them the vision they need. When you remove all your furniture from the property, you leave your potential buyers with only a blank canvas to stare at, which of course isn’t appealing in the least. Besides, it is a known fact that empty houses look smaller than ones with furniture, so don’t make this blunder.
3. Being Present At the Open House:
Many homeowners think that hanging around the house when an open house is in session would add a personal touch. It isn’t. Similar to the above-mentioned points, buyers wish to imagine themselves living in the house. They are rarely enthusiastic to see the last person who lived there. Instead of being present in person, it is best to let your real estate agent take it from here.
4. Lack of Clarity on Rooms That Make the Most Impact:
When trying to understand the true value of selling real estate costs, a homeowner and realtor have to think like buyers themselves. If you were the buyer instead, which rooms would you wish to look perfect? The kitchen, bathrooms, or bedrooms?
Understanding which rooms have the greatest impact when it comes to buying a property allows homeowners and realtors to better stage it to seal the deal. Lack of clarity only leads to substandard bids, messing with your returns.
5. Overlooking Minor Aesthetic Issues:
Failing to attend to little aesthetics issues like uneven cupboard doors, jingly door knobs and loose plug sockets can knock several thousand off your sale price. When potential buyers see these red flags, they begin to wonder what else in the house needs repairs that aren’t visible at the moment. Buyers instantly assume that there must be deeper problems and therefore make smaller bid, keeping in mind the costs they think they will have to bear in repairs and maintenance.
Just spend a few extra bucks to ensure that you leave nothing in the house for the buyers to feel worried about.