In an article posted last week, we provided an opinion on what steps a seller should take in trying to attain the best selling price for the property.

This post concentrated on providing tips on obtaining the best possible selling price and in particular, provided tips when having a show house.

In this week’s article, we will examine the mistakes that a seller should avoid as much as possible to ensure a reasonably quick sale.

It is common knowledge that to sell a house quickly, it needs to look good, be well-maintained and have good showhouse appeal.

However, it is equally important for property owners to understand various factors and avoid making the wrong decisions when owning a property as well as when preparing their property for sale.

 The mistakes you should prefer not to make as a seller include the following:

• Not having your home ready for a showhouseNot having your home ready for a showhouse will be very costly, as it will likely harm any potential buyers viewing the property. First impressions count, and the need to captivate the buyer cannot be underestimated.
  Given that showhouses are held intermittently, you want to use these opportunities to SELL the attractiveness of your property as much as possible.
  In the previous article, we mentioned that we advised on what tips to follow when placing your house on show and encouraged you to view the post.
  Tip: Ensure your property is in the best condition and as neat as possible when going on SHOW. Appoint a maintenance company to undertake all necessary repairs before the showhouse.

• Incomplete renovations
  Placing your property on show while still having incomplete renovations or repairs is a big mistake. Buyers will be easily scared off once they see they have to spend money on completing a renovation or repair. For the braver buyers who don’t run away, this situation will invariably become a pre-condition of the sale that either the repairs are completed before transfer, OR the buyer offers less for the property to cater for completion costs.Tip: Finish all repairs and renovations before you place your property on the market, even if it means refinancing your bond.

• Bright colour schemes
  While you may love having a house that looks like the rainbow nation, having bright paint colours on walls may influence the selling price, as buyers will immediately want to factor in the cost to repaint the walls.
  Tip: Keep the paint colours as neutral as possible or light pastel colours to avoid buyers feeling the need to have to repaint the property.

• Poor maintenance
  Not attending to the maintenance of your property over the years will certainly catch up to you when you decide to sell your property. Suddenly, you are having to source additional finance to attend to items that may not have cost as much to repair if the property had been maintained.
  Often, a property that has been poorly maintained over time will result in substantial costs to repair and, in many instances, replacement of components of the property.
  Tip: Keep an eye on items such as gutters, roof tiles, signs of damp, doors and windows that don’t close properly and plumbing leaks. Have them attended to by a reputable maintenance company as soon as the problem arises.

• Overgrown gardens
  We spoke about curb appeal in a previous post and the significant impression a neat garden and entrance will make when selling your property.
  Ensure your garden is not overgrown or has weeds when having a showhouse. An overgrown garden immediately gives the impression of hard work to the buyer and may even affect the sales price.
  A neat, trimmed garden and its plant growth will be viewed very favourably.
  Tip: Apart from keeping your garden maintained, adding greenery and flowers to your garden will create a homely impression and a welcoming environment.

• Asking too much
  Be careful not to ask too much for your property, as a similarly sized house in the same area priced less than yours will sell before yours. Buyers are very astute these days and can access numerous informative sites to garner information on your property. Well-researched and informed buyers will know exactly what your house is worth and, if overpriced, may not even come to view it.
  Estate agents looking out for houses for their clients to buy will also not reach out to you for their clients to view your property if you are asking too much.
  Tip: Have a valuer provide you with a valuation report that will accurately reflect what your property is worth.

• Not wanting to compromise or negotiate
  It is crucial, as the seller, not to treat each offer with emotion. It is not uncommon for a seller to feel insulted when they receive an offer much less than what they are asking. Always be open to negotiating an offer and even be willing to compromise on any pre-condition of sale.
  An astute buyer generally will offer less, but if they like the house, they will be negotiable.
  Tip: Before you place your property on the market for sale, establish the minimum price you are prepared to accept. This provides a price band for you to negotiate in while curbing emotional reaction to an offer less than the listed price.

• Listening to friends and family
  While advice from friends and family as to what they consider to be the selling price is common and sometimes gratefully received by the seller, it is NOT a good idea to make a decision based on their advice unless they are in the Property environment. Friends and family will mostly tend to provide a positive, biased opinion, in which case may falsely inflate your prospects of a sale.
  Tip: Don’t make decisions based on the sole advice of your friends and family. Engage with a reputable estate agent or obtain property reports in determine the price that is obtainable in your area.

• Waiting for the right offer
  As a seller, having the belief that the right offer will come along is a serious mistake and one that many property owners make when selling their properties.
  If all the factors have been met in holding a successful showhouse, it is likely that if the property is priced right, several offers will be received. But in the property market, it is not always that simple.
  As a seller, it is important to recognise that many factors influence a sale, such as the area, the size of the house, the price, and the economy. Therefore, waiting for the right offer may just prolong the period your house is on the market, which will also influence the final selling price.
  Tip: Consider all offers and never outrightly dismiss an offer, as you never know when another offer will be received.

In conclusion, selling your property will be exhausting if you make the mistakes highlighted in this article.

However, we believe that if you apply the aforementioned tips and avoid the mistakes mentioned above, your house will sell quickly, and you will attain the price that you wanted.