8 Deadly Mistakes Home Sellers Make

Mistake Number One: Not Marketing the home properly

When your property is on the market, it can't be guaranteed that the person who will actually buy your home will simply turn up on the front doorstep. You will need to make sure that your home gets the highest level of exposure to bring the right buyer to your property. Speak to your real estate agent about the different ways they market your home, and what the time frame is. It is also vital these days to ensure your home is on the internet. At Ray White Team DJ, we advertise your home at no cost to you on our own website and on all the other major Australian websites.

Mistake Number Two: Not paying enough attention to the properties 'street appeal'.

When getting your property ready for sale, keep in mind that a buyer's first image of your home is crucial to be the right one. This first impression can often be the deciding factor on whether they even want to come inside to look further. Stand outside the home and think how you can improve its 'street appeal'. Speak to your agent to get their input on how the street appeal of your home can be improved. This alone, could mean you get a whole lot more in your hand when the property is sold.

Mistake Number Three: People forget potential Health and Safety Problems

It is important to let your agent know if there is anything wrong with your home. They will be discovered somewhere in the process anyway, usually during the building and pest inspection that buyers have done before finalizing the contract of sale. 10 years ago, health and safety concerns often didn't even register on a property sale; today they are at the forefront of most buyers' minds, and often form part of the contract. It is also a legal requirement on the seller to let potential buyers know if there are any issues with the property. Normally any problems are taken into account in the final sale price of a property.

Mistake Number Four: Sellers don't think about the presentation of their home the way a buyer would

Keep in mind that even though there are a wide variety of personalities out there, most people are quite similar with their expectations of a property. Most potential buyers are looking for a 'perfect home', from all angles, especially when they are paying so much to buy it. Aim to have the presentation of the property in top shape, and as immaculate as possible, as this will only assist you in getting the best possible price for your property.

Mistake Number Five: Believing you should be there to give information to a potential buyer.

The best result will be achieved for you if your agent is left to do their job one on one with the buyer. Usually a prospective purchaser will be more comfortable discussing things freely with the agent when the sellers are not around.

Mistake Number Six: Placing an incorrect price on the property

One of the most difficult things in getting your home sold is deciding on the price to market the home at. This is one of the crucial areas where having a professional real estate agent will pay off in big dividends for you. If you put the home to market at too high a price, this is as damaging as going in too low. If your sale price is higher than market, there is a large section of the buyer market who are looking in the price range that your home should be, but since your price is too high, they don't even consider yours. Many sellers are of the mistaken belief that they can always come down with their price, and accept a lower offer. The only problem with this, is that usually those lower offers don't even eventuate, since the people who would be keen on your property have been frightened off by the steep price, and not even taken the time to look at the home. Down the track you may correct your price, but the time has already passed, where the main bunch of real buyers are ignoring your home now. The correct price to set your home to market at becomes even more difficult when the market is moving up or down fast. It is very important to know which direction and how quickly a market is traveling, both when putting up the initial price, and negotiating with a buyer. A skilled real estate professional will be up-to-date on the trends, usually more even so than professional valuers, who usually focus on past sales.

Mistake Number Seven: Sellers don't give themselves enough time to plan the move

Many sellers don't plan their move early enough, but then feel completely overcome when the time of moving out of the house comes. If it is possible to move any time of the year, then it is advisable to do it outside the summer months as this is the height of moving season. If you plan to sell your house, put it up for sale as soon as you can. Speak to your accountant, but keeping a record of all your expenses regarding your move is a good idea as some may be tax deductible. Complete a checklist of the items in each room. This is important for establishing the amount of declared valuation for the shipment and as a permanent inventory for insurance purposes. List, as nearly as possible, the year of purchase and original cost of each item. Attach any invoices or records of purchase to the completed inventory. Prepare a separate high-value list for items that are of value. The following list includes items that might fall into this category:

• Antiques Art Collections
• Cameras
• China
• Computers
• Crystal
• Figurines
• Jewelery
• Oriental Rugs
• Silverware
• Stones or Gems

Mistake Number Eight: Listing with an agent who is 'convenient' instead of someone with experience

When working with an Agent, it is important that you have complete assurance in their experience and education. A skilled, trained agent should be able to explain to you exactly why your home needs to be priced at a certain level - compared to recent listings and sales of homes similar to yours.

Experienced agents will know exactly what the current buyers are looking for in relation to particular styles and price ranges of properties. A good agent can recommend changes that will enhance the saleability of your home, thus improving the price - as well as reducing the days on market before the home sells.

Also, make sure that you are marketing to the right people. There may be several suburbs with the same name in the country. For example, Huntingdale is a suburb in Western Australia and in Melbourne. It's the simple things that make all the difference.

Finally, the 2 main reasons why a home doesn't get a sale in a short time frame are

1. Price 2. Presentation

Make sure you have each covered each of the above points, then join up with your agent and work through it together!

Dave Haydon is a key member of Team DJ [http://www.teamdj.com.au] Huntingdale Real Estate Agents and has experience in selling homes in Queensland and Western Australia.

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