People sell their homes for various reasons, whether it is due to downsizing, moving interstate or when a relative has passed away. Whatever the reason, there are definitely traps to avoid. With more than 20 years experience in the property industry, we at Thrive have seen some common mistakes made by sellers. If you can avoid these, you’ll be well on your way to achieving a successful, stress-free property sale.

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1. Choosing the Wrong Agent

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This is literally the number 1 mistake we see many property owners make. For example, some owners choose an agent who:

(a) They used previously, in a different suburb

(b) They see on lots of billboards and sold signs around the area

(c) Gives them the highest property appraisal.

Although these may seem like valid reasons to choose an agent, they are not necessarily. The main criteria for choosing an agent should be, the one who has achieved the best sale prices most recently in your local area. A vendor advocate has greater access to sales data not generally available to the public to help narrow down a shortlist of the best agents.  
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2. Selling your Home Yourself

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Some sellers attempt to sell their home themselves, without using a professional sales agent. This may be an attempt to avoid the agent commission cost or they may already have a buyer. Whilst this may initially appear an attractive option, it does not typically achieve the best outcome. A well-credentialed vendor advocate and real estate agent has the experience of selling hundreds of properties. They have the knowledge of current market conditions, and also the skill to negotiate the best price for you. Even if you have a buyer lined up for your property, we normally recommend including that buyer in the broader buyer group so that competition can help achieve the highest price possible.
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3. Being Unfamiliar with Current Market Conditions

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All owners want the best price for their property, but having an unrealistic view of your property’s value can be detrimental to the end result. In changing times, it is vital to use comparable sales from the same period of time. Sales from 6 months ago, are simply ‘old news’. Attending auctions is one way to familiarise yourself with recent ‘actual’ prices. A vendor advocate can provide comprehensive data on recent results so that your property can be marketed and priced appropriately.

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4.  Not Presenting Well

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There are many cost effective ways to improve the presentation of your home for sale, but some vendors can tend to overlook this. Leaving the garden unkempt or not decluttering overcrowded rooms can leave potential buyers with a bad impression. Likewise, not tending to simple home repairs or patching up paintwork could turn off some buyers of your property. Take the time to present well and you will be rewarded!

5. Being Inflexible

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The property market is an ever-changing beast. If you as the owner are not flexible and open to the suggestions of your vendor advocate or agent, you can run the risk of a long and drawn out campaign. If it seems unlikely that you’ll achieve a price you originally hoped for, be open to accepting that lower offer if it means you can still relocate as planned. The price of your home may have altered, but chances are the price of the property you would like to purchase has too.  

At Thrive Property Advocates we work with you to help you achieve your property goals. Contact us to learn more.

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