Mistakes to avoid when selling your home

Several mistakes can cause sellers to make less money on a deal when selling a property. Thankfully, most are easily avoided if a seller is made aware of them.

“Selling a home for full value is not as easy when economic growth is slow and interest rates are high. While sellers might have been able to get away with making mistakes when market conditions were good, they could stand to leave a lot more money on the table if they make mistakes in today’s property market,” says Adrian Goslett, the regional director and CEO of RE/MAX of Southern Africa.

To help sellers achieve full value, RE/MAX of Southern Africa shares the most common mistakes made during the sales process.

• Overpricing:
Setting the sale price too high can deter buyers and prolong the selling process, especially when buyers already struggle with interest rates as high as they are. Lean on a real estate professional’s advice to determine a competitive and realistic price for your home.

• Ignoring repairs and poor presentation:
Deferred maintenance can be a major turn-off for buyers. Address necessary repairs and updates before listing your home to make it more attractive and increase its value.

Cluttered or poorly staged homes can also make it difficult for buyers to envision themselves living there. Declutter, depersonalise and stage your home to highlight its best features and appeal to a broad range of buyers.

• Being unprepared for showings:
Always ensure your home is clean, organised, and ready for showings. Flexible scheduling and accommodating potential buyers could make the selling process smoother and more efficient. Qualified buyers are limited because of the high interest rates, so you do not want to turn buyers away unnecessarily.

• Incomplete or misleading disclosures:
Failing to disclose important information about the property could lead to legal issues down the line and cause the deal to fall through before the transfer happens. Be transparent about known issues, such as past renovations, the property’s history, or known defects.

• Skipping professional help:
Selling a home is a complex process requiring real estate professionals’ expertise, especially when negotiating an offer. A reputable agent can help navigate potential pitfalls and ensure a successful sale.

By avoiding these common mistakes and taking proactive steps to prepare your home for sale, you can increase your chances of a smooth and profitable transaction.
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