- Thinking of selling your home? Don’t overprice it.
- Advertise your home at a market-related price, in print and online.
- Only sell when you’re ready to let go of the emotional attachment to your home.
You’d think that in a buyer’s market it would be easy to sell your house. Some people are finding that is not the case and have given up trying, choosing to stay in their homes or continue renting them out. The reasons for this disappointing result are varied but can be easily remedied by avoiding common home selling mistakes.
Justin Easthorpe, Provincial Sales Manager for ooba, offers these pointers:
- Don’t be greedy. Overpricing your home is not necessarily going to work in your favour. Evaluating the price of your home, especially when housing prices are so volatile, is a very difficult job. Contact your local real estate agent, who is the area specialist, and request assistance with accurately pricing your property.
- Don’t be easy. Marketing your home for less than its value is also not recommended. While buyers are always looking for a bargain, and you might sell your home quickly, you’ll lose money which could affect your ability to purchase a new property. Again, a real estate agent or professional property evaluator can advise on the best price although the latter will charge a fee for their services. You could also do your own market research to guide you towards the ideal price.
- If you’re doing it yourself, use as many marketing forums as you can to advertise that your home is for sale. Often online is easier and more accessible to more people. However, make your post look as professional as possible – use a spell- and grammar check if you can, and publish good-quality credible pictures. People are wary of being scammed so anything that might be seen as dodgy is going to chase potential buyers away.
- If you’re selling your home through a real estate agent make sure they’re advertising your property in print as well as an online.
- First impressions count. Buyers want to see neat, tidy, clean, odour-free homes – at the very least. A fresh coat of paint often helps eliminate cigarette and pet smells, but once that wears off you could use lovely scented candles or perfumed diffusers to freshen the interior of the home.
Possibly one of the most important things to remember is to only sell when you’re ready. Unless of course you’re not emotionally attached to the house. If you’re simply flipping a house, then it’s different. Easthorpe says it’s essential to examine the reasons why you want to sell the house that you are currently residing in. “If you are not sure and there is no immediate reason to sell I suggest waiting until you are 100% comfortable.”
If you decide it’s the right time to sell, and are looking to buy again, ooba offers assistance with prequalification and application for a new home loan. Use the ooba Bond Indicator to work out what you might qualify for. Then, when you’re ready, get prequalified or apply for a home loan with ooba today – South Africa’s largest bond originator.