Important factors that Seller’s need to consider before marketing their Homes
We understand the fact that you the Seller need to make as much money on the sale of your home as possible and there are considerable expenses involved when selling your home. We hereby list below some important points that you may need to give thought to.
1. If you wish to sell your home, you will need to be prepared to be flexible with the viewing times for potential Buyers. Often Buyers may request to view your home at times that are not always convenient, however, it would be in your interest to attempt to appease the potential Buyers wherever possible. There are plenty of other homes for potential buyers to view in the current market. Arranging viewings at your home is time-consuming for all parties concerned and the more flexible you the Seller makes the experience more attractive.
2. When reputable Agents offer their professional services to a Seller, they should present a detailed marketing plan stipulating how their Agency intends marketing your home, together with their commission structure that is usually a percentage of the selling price of your home. Most professional Agencies do not operate on a fixed commission structure but rather charge a percentage commission of the agreed selling price. Remember often Agencies that offer a fixed commission fee to sell your home are not financially in a position to give you the Seller a comprehensive service. You the Seller would ideally like your appointed Agent to obtain you the best possible price for your home, therefor it would be in your interest to appoint the most reputable Agent within your neighbourhood.
3. Naturally, every Seller believes that their home is the best in the neighbourhood, plus the fact that you the Seller spent considerable funds renovating your home a few years back, considering all these facts you may have priced your home incorrectly. Pricing your home is no easy task as it is a constant moving target. You the Seller will need to conduct a CMA – comparative marketing analysis with the assistance of an experienced Agent. Property markets change frequently and are affected by factors such as the state of the economy, political situation, financial institutions granting bonds to potential Buyers and crime in your neighbourhood.
4. It is a myth that homes sell themselves – you need to market the property professionally. Some Sellers are fortunate in that they may have the perfect home in the perfect condition on the best road in a sought after suburb, these important factors will greatly assist in the selling of their home in the shortest possible time. The Agent that you appoint will need to come up with a very comprehensive marketing plan to ensure that your home is marketed effectively.
5. You the Seller need to be prepared for the legal landmines that come with the sale of your home. I know your appointed conveyancing attorney may assist you with the paperwork, but there is a lot more to selling a home than just an agreement of purchase and sale. Specifically, I hope you know what you need to disclose to potential Buyers in terms of latent and patent defects.
6. If you are still of the opinion that by appointing a reputable Agency to market your home is not worth the money that you are required to pay in the form of commission, then maybe you have been getting the incorrect advice from the wrong Agency/Agent. Marketing, negotiation, staging, pricing and understanding basic real estate procedures are skills that vary significantly from Agent to Agent and they do have a major impact on the price that you obtain when you sell your home.