So you want to sell your home.
And hopefully make a tidy profit.
But where do you begin?
Sometimes the easiest place to begin is what NOT to do.
After witnessing literally thousands of successful sales our author & principal Ken Watson has seen exactly what makes the difference and he's passionate about sharing the information!
In this series of blogs we take a look at the 7 costly mistakes to avoid when selling your home - each of these secrets Ken goes into more depth on in his free ebook which is available for instant download.
To see the first 3 costly mistakes check out Part 1 of this series.
Lets take a look at the other mistakes that could cost you thousands when selling.
Costly Mistake #4: Choosing a poor negotiator
"This can be top of the list when considering the maximum sale price you achieve for your property. I have seen a number of instances where the choice of property consultant to sell a house has potentially cost the seller thousands of dollars."
Ken stresses the importance of having an expert negotiator on your side, as obtaining multiple offers on a property is a skill set in itself.
"Negotiating is not about using deceit to push someone into the wrong decision - it is about using logic to help someone into the right decision."
Costly Mistake #5: Selling to a one-off buyer
"On the surface, negotiating a one-off deal with family members, Property Consultants clients or neighbours can seem like the perfect way to avoid the selling process that people perceive to be stressful and uncertain. But the truth is that the only true way to ensure that you receive the best the market has to offer is to ensure that a competitive situation is created through expert marketing and negotiating."
In this costly mistake Ken shares his own experience, which is you almost always get more money from going to the market. And, if you sell without a proper competition-generating strategy you will never know how much your home is worth on the open market.
If you are approached by a friend or someone wanting to buy your home then please think twice! Ken and our team of agents at Watson's are always available for obligation free advice if you want to discuss.
Costly Mistake #6: Accepting offers too early
Selling prior is lazy on behalf of the Property Consultant and can result in huge losses to you as the homeowner!
"If your Property Consultant is telling you that the buyer MUST have an answer from you before tender date (usually because there is supposedly another property the buyer wants to buy but prefers your property) who has the position of control? The buyer does. Your negotiating position has been compromised if you bow to these demands."
For our costly mistake #6 Ken stresses that considering any tenders prior to a closing will dramatically weaken your ability to get a premium price. His advice is to go right to the tender date - that way you will know you are looking at a snapshot of the entire market.
"Considering an offer earlier may allow you to sell for an OK price but it will never get you that premium of tens of thousands of dollars."
Costly Mistake #7: Selling your home privately
"Real Estate Property Consultants may have a vested interest in saying this, but the truth is that there are so many problems with selling privately or even just being the negotiator in your own sale that it could well be the single biggest risk facing you as a homeowner."
In this costly mistake Ken shares some of the reasons why selling your home privately is likely to cost you tens of thousands more than it would ever save.
A few of his key reasons include:
- Buyers are not as comfortable negotiating with the owner
- Poor advertising placement and low exposure
- High advertising costs
- The wrong buyers
He also shares a recent client story to illustrate the higher advertising costs that come from selling your home privately.
"To put this in perspective a marketing campaign that I recently did for a client selling a really lovely home would have cost them over $7,000 to have completed to the same level that we do by dealing directly with advertisers, professional photographers and 3D modelling etc. I was able to do the same campaign for less than $1,000."
Avoid these costly mistakes!
For more on how to avoid these mistakes download the free ebook which covers each subject in depth, plus useful tips and advice on how to handle each area.
- Full list of blogs
Feilding Real Estate Market Snapshot - April 2020 Palmerston North Real Estate Market Snapshot - April 2020 Palmerston North Median Rental Prices: November 2019 - April 2020 Covid-19 Level 2 Feilding Real Estate Market Snapshot - March 2020 Palmerston North Real Estate Market Snapshot - March 2020 Palmerston North Median Rental Prices: October 2019 - March 2020 Real Estate Market During Lockdown FREQUENTLY ASKED COVID-19 Questions (NZPIF) COvid 19 Level 4 Updates Handy resources for you to help with Covid-19 Covid 19 Level 2 Updates Feilding Real Estate Market Snapshot - February 2020 Palmerston North Real Estate Market Snapshot - February 2020 Palmerston North Median Rental Prices: September 2019 - February 2020 Kens' 37th year in Real Estate Watson Real Estate expands to Whanganui market Will Jeff Bezos (Amazon) solve the NZ housing crisis? Here's the plan! Market is still hot coming into 2020 Feilding Real Estate Market Snapshot - January 2020