6 Costly Mistakes to Avoid When Selling Your Property! Selling your home can be a daunting experience, filled with important decisions that could affect the final outcome. As an experienced agent, I've helped countless clients navigate this process. Here are six key mistakes to avoid that could save you both time and money. 1. Pricing Too High Overpricing your property is one of the most common pitfalls. While it's natural to want to get the best price, a home priced too high can stagnate on the market, leading to fewer viewings and lower offers. In fact, properties that are priced right from the start often sell for more because they generate more interest. Think of it like an auction: more competition means higher prices. Price wisely from the beginning to attract more buyers and avoid having to lower the price later. 2. Choosing the Cheapest Estate Agent Choosing the cheapest estate agent can be a costly mistake. On average, the best agents achieve 99- 100% of the asking price, compared to 97% for average agents. This 2% difference can mean thousands more in your pocket. While it may seem tempting to opt for the lowest fee, the extra investment in an experienced agent who can negotiate effectively will likely result in a higher final price for your property. 3. Thinking Your House Will Sell Itself While it's true that demand drives sales, the idea that a home will sell itself is a myth. Properties need to be marketed correctly with professional photos, compelling listings, and strategic pricing. An experienced estate agent understands how to present your home in the best light and attract the right buyers quickly. It’s not just about listing your home—it's about actively marketing it to get the best possible result. 4. Fixating on the Price You Want Focusing too much on the price you want can backfire. While it's important to aim for a good price, you must be willing to negotiate and evaluate offers realistically. I recently worked with a seller who rejected an offer close to the asking price, holding out for a slightly higher one. Months later, the property had to be reduced in price, and they ended up accepting an offer even lower than the original one. Flexibility and negotiation are key to a successful sale. 5. Rejecting Early Offers Rejecting early offers without careful consideration can be a costly mistake. Buyers who make an early offer are often well-researched and serious. Rejecting their offer in the hopes of a better one could mean months of waiting, price reductions, and eventually lower offers. Early offers are often the best offers—especially if they’re close to the asking price and come from motivated buyers. 6. Taking the View “I’m in No Rush” Timing is crucial when selling a home. Properties that sell within the first 12 days often achieve a higher price—around 100.89% of the asking price—compared to those that sit on the market longer. If you're not in a rush, it's still important to price your home realistically and market it effectively right from the start. The longer your home sits unsold, the more likely you are to face price reductions and negotiations that can reduce your sale price. The Key Takeaways: Don’t overprice: Price competitively from the start to attract serious buyers and create urgency. Don’t choose the cheapest agent: Opt for an agent who knows the market and can get you the best price. Don’t assume it will sell itself: Proper marketing, great photography, and expert negotiation are essential. Be flexible on price: Consider offers carefully, even if they’re lower than your ideal price. Consider early offers: The first offer could be your best offer. Don’t delay: Time your sale to maximize interest and avoid price reductions. Choose Your Estate Agent Wisely The right estate agent can make all the difference. My agency has a proven track record of achieving an average of 102% of the asking price in just 19 days, regardless of market conditions. With over 16 years of industry experience, I can guide you through the complexities of selling your home. For more insights and resources, feel free to visit our website or get in touch directly. Selling your property doesn’t have to be overwhelming. By avoiding these common mistakes and choosing the right agent, you can ensure a smooth, successful sale.