If you’re selling your home for the first time, the process can be unbelievably stressful, not to mention time-consuming! As selling your home is such a large and emotionally complex transaction, it’s no surprise that homeowners make mistakes throughout the process.

Perhaps you’re selling your home because you’re relocating or you’d like to purchase a property to add to your investment portfolio. No matter your motivations, it’s best to be aware of the mistakes to avoid when selling your home. Read on to find out how you can avoid the most common pitfalls and get the best possible price when selling your home.

1. Choosing the wrong agent

When selling your home, choosing the right agent is crucial. A good agent will have your best interests at heart. What you need is a professional, expert agent who has a thorough understanding of the local market. This means they will be able to price your home fairly and accurately, increasing your chances of a quick sale.

Having a strong personal connection with your agent will also help the process flow smoothly and be far less painless than it has to be. Our agents are experts in the local Sydney area, are personable and have intimate knowledge of the current market conditions. We’ll also provide you with an appropriate marketing plan to sell your home quickly, fetching the best possible price in the process.

2. Lack of preparation

Too many homeowners soon forget the difference that a little preparation can make when it comes to making a strong first impression on prospective buyers. When it comes to selling your home, it needs to look fabulous from the outside in. Prospective buyers need to imagine themselves living in your home.

If you’re not currently living in the home, this process will be much easier. If you are, consider simplifying your furniture layout and de-cluttering before inspections. Even small cosmetic changes can be crucial when selling your home; a fresh coat of paint, a couple of new pieces of furniture, the addition of some greenery or steam-cleaning the carpets can help enormously.

3. Getting emotional

Selling your home can represent a tremendous emotional upheaval, especially if you need to sell quickly or you’re selling your first home. But how do you keep your emotions in check when selling your property?

Once you make the decision to sell your home, start considering yourself strictly as a business person, not a homeowner. This will ensure that you distance yourself from the emotional aspects of selling your home. Remove anything sentimental from your home; family photos, old keepsakes, clothes, shoes, jewellery or well-worn toys. Cleaning and staging your home in a completely different way will create further emotional space between you and your home. Then you’ll start to view it how prospective buyers would, instead of as the beloved home that provided the setting for a host of beautiful memories.

4. No market knowledge

When selling your home, it’s essential you have at least some market knowledge. While your agent can educate you on the local market and provide a reasonably accurate indication of how to set your sale price, ultimately the decision is up to you; the seller.
Research your local market prior to selling, ensuring that you are comparing relevant properties with similar attributes, such as the location, size, number of rooms as well as any amenities available on the property.

5. Attempting to sell privately

It can be tempting to try selling your home privately to save money on fees. But unless you have successfully done this before or you’re an agent yourself, it pays to hire an expert agent!

A good agent will set a fair and competitive price on your property that falls in line with similar properties in the area. Private sellers often lack the expertise to be able to correctly price their property in line with the property attributes, local area and current market conditions. This is due, in part, to the emotional attachment many homeowners feel towards their home; many will price their property too high. Homeowners can also lack the negotiation skills to quickly negotiate the best selling price while interest is high. A highly important skill that our trained agents possess to help you obtain the best price.

Are you looking to sell your home? If you need more advice about the current Sydney property market, our expert agents have an in-depth knowledge of the local area and can accurately price your home. We’ll work on your behalf to get you the best possible selling price. Contact us for more information or to start the journey of selling your home.

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Tolga Ozer, Principal & LREA

Hyde Park’s most highly acclaimed property expert, achieving record-breaking outcomes for owners and investors. Having become the most sought-after agency for Sydney’s inner suburbs and CBD, my team and I take pride in our ability to deliver outstanding results.

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