Elite Women Real Estate

Selling Mistakes

charles-deluvio-Za9oagRJNLM-unsplash
A blocked up house gutter filled with leaves and branches and rendered ineffectual in draining off roof water
yuliya_zyu-eBrttlTC77g-unsplash

International Data

1) Asking the wrong price for your property

Sellers have considerable equity in their properties -both financial and personal. Unfortunately, this may cloud their judgement when selling. Sellers need to adopt an arms-length perspective when pricing as the home becomes a commodity that will compete with other properties for sale.

The agent that the seller engages must provide a report of like for like properties to determine a price. Land size, bedrooms, bathrooms, living areas, proximity to transport and shops, construction material are critical comparisons that the seller must examine to set a competitive price.

2) Not preparing the home for sale

The property is competing with other properties and presentation sells. All necessary repairs must be completed as well as; decluttering all living spaces, enhancing the property with subtle desired improvements that your agent outlines and a fresh smell prepares the property for sale.

3) Negotiations with the buyers

When choosing an agent, it is important sellers ask about the current needs and problems of purchasers. What is finance like? What do they want from properties in your area? What do I have to do to reduce problems in the negotiation stage? What will I need to take out of the property to make it more sellable? Answering these questions and adjusting the property accordingly at listing, reduces the potential problems that could jeopardize a sale.

4) Home inspections

Optimising the best times to show the property as well as clear access impact the sale. Leased property can reduce the amount of inspections and can leave a property lingering on the market too long -affecting the sale price. Negotiating a favourable incentive for tenants during a sale can improve the process considerably.

Presenting the property at times that are beneficial to both purchasers, tenants and sellers is also imperative as missed opportunities result in extra time on market.

5) Listing the property for sale

Choosing the wrong real estate agent is a very costly mistake as having to go through the process twice means extended time on market. The important questions to ask include:

What have they sold?

Are the properties like for like?

Time on market?

Prices attained?

What are they like in quiet markets?

Do they stage?

Selling methods used?

Reviews?

6) Property appraisal

Sellers need to firstly readjust from home owner to property seller -equity position to arms-length transaction. The agent’s property appraisal should then be similar to the expectation of the seller. The seller must research the market in advance to know that the agent is professional and that the agent is not just “buying” the listing by appeasing the seller. Both parties loose in this scenario. The seller has a property on the market too long and the agent builds a reputation of incompetence. Accurate property appraisals conversely sell quickly and often with heated demand.

7) Closing a sale

In markets that are not booming closing a sale is critical. Ensuring that both sellers and purchasers don’t lose site of the ‘prize’ is often easier said than done. Sellers and purchasers that want their conditions met and become embroiled over chattels can jeopardise their mutual investment. An agent that stays focused on the outcome whilst appeasing both parties equally is an asset. Indeed, negotiation is a critical and essential skill and sellers should examine this ability prior to listing by reading the agent reviews. 

Search and Connect

We invite you to meet our local members in your community

Selling Real Estate

EWRE For Sale services are all-inclusive and customised to the needs of each client. The majority of our business is through referrals and repeat business built over time offering:

Vicki Matchett
Vicki Matchett
Read More
Tania and Elite Women Real Estate were fantastic. I have sold a numer of homes over the years. Met 3 other estate agents. Tania Ireland and Elizabeth were "Easy to work with". I found them honest, thorough and reliable. Regular communication and feedback was terrific. I will becrecommending Elite to my friends, family and colleagues without hesitation. Thanyou again to the team. Colin Matchett
Leigh Farmer
Leigh Farmer
Read More
I sold my home in Parkdale three weeks into the COVID lockdown. Irene was my agent and every time the panic set in her professional and caring manner eradicated all my concerns. The auction was online and I achieved more than expected. Irene knows the Bayside area so well and was able to give prospective buyers an accurate and detailed overview of the house and the surrounding suburbs. It was also lovely to meet and work with Elizabeth during the campaign.
Marusca Catania
Marusca Catania
Read More
Frank and Connie would like to thank Elite Women Real Estate but especially Deanna Ripepi for selling our home of over 41 years. Deanna was very professional, efficient and most important her caring attitude during the whole sale process including up to the time of settlement. It is no surprise that she was able to achieve a price well beyond our expectations. We would thoroughly recommend Elite Women Real Estate for any property sale. Thanks again.
Lige Xia
Lige Xia
Read More
“Just wanted to say thanks for the amazing job you did for us”!! Elizabeth & Sharon were the energizer team and always pays attention to the smallest details that everyone needs when selling a home. Great realtors sell properties, creativity, sense of style, vision and compassion are extraordinary. Again, amazing! Elizabeth & Sharon’s guidance and professionalism throughout our transaction were priceless. We value our personal relationship with Elizabeth that has developed as a result while she and Sharon continue to provide us with guidance and extensive knowledge of the real estate market even after our closing. Elizabeth will be our real estate agent for life. You took care of us and made the process painless and rewarding. EW real estate made it a truly great experience for us. Thank You, Vendors Burwood East
Previous
Next