Imagine putting your property up for sale. 

A stranger might walk in through your door the next day and start opening your closet. Openly criticise your decorating skills. And as if that wasn’t bad enough, offer you a much lower price than what you think your home is worth. 

Selling your home can be a difficult ordeal - both time-consuming and emotionally draining. It can often feel like an invasion of your privacy and if faced with constant low offers - even insulting!

Under these tricky circumstances, it’s very easy for someone to lose their mind and make a mistake that might cost them a good deal. Here are six common mistakes to avoid when selling your property.

Letting Your Emotions Get the Best of You

When you think about your home, you think about all the memories associated with it. Saving up for the mortgage and spending a great deal of time and effort finding it. Along with all the memories you’ve made throughout the years with your family and loved ones. It’s often hard not to let emotions get the better of us when it’s time to say goodbye.

Our advice? Think of it as a purely business transaction. That way you can emotionally distance yourself from the house. Allowing you to make smart decisions that aren’t driven by emotions.

Being Unreasonable with the Price

Setting a competitive price when selling your property is key. A potential buyer will most likely compare the prices of similar properties before making any offer. And with a vast amount of information available online, it’s next to impossible to ask too high of a price and get away with it. 

Overvalued properties generally don’t sell. So remember to price it right.

Expecting to Close at the Asking Price

Even if you price your property to move, be prepared to negotiate. Any smart buyer won’t take a deal at its asking price. They will negotiate. And let’s face it, you probably did the same when buying your current home. 

The trick is to be flexible. Price your property to attract the maximum number of offers, but increase it just enough so that you have some room to negotiate. Being adamant on your asking price might delay the process of selling.

Not Listing Your Property with High Quality Photos

Most of the properties these days get bought and sold online. If potential buyers stumble upon your property listing on a site and don’t find proper photos to look at, they’re most likely to ignore it. High quality photos with good natural lighting can help potential buyers visualise your property before booking a viewing. So one of the biggest mistakes you can make is not to provide such photographs in your property listing.

Not Hiring a Real Estate Agent

There’s no denying the fact that a real estate agent will charge you a hefty commission - somewhere from 2-5% - for selling your house. So it’s tempting to try and sell your property by yourself. This might turn out to be a mistake. especially if you’re in the market for the first time.

Think about it this way: given the commission they’ll charge you, a good real estate agent will have your best interest at heart. A local agent can advise you on the right time to sell, the steps you need to take to ensure a smooth transition, and make sure you get the fair market value. These advantages clearly outweigh the cost of hiring a solid local real estate agent.