Did you know that the average Australian home is sold every ten years or so? That tells you a couple of important things: Firstly, that you're likely to sell a few of them in your time. And secondly, because you don't do it too often, you may be committing a few cardinal DON'Ts of house selling.
Unfortunately, if you tick the DON'T box too often, it's just going to cost you money - a lot of it. Therefore, we've put our heads together and come up with what we think are simultaneously the most common and the most costly home-selling DON'Ts, solely so you can give them a wide berth. Trust us: Your bank account and your Panadol stockpile may just thank us!
#1 DON'T: Choose an agent with the lowest fee
Ok, we agree: The fee taken by the real estate agent is important. But it's not everything. The main reason for this is that the sub-standard, inexperienced, and downright dodgy agents will slash their fees simply to get your business. So when you're selecting an agent and their quoted fee makes your eyebrows raise a little higher than usual, ask this question: "What are you going to do for that extra money?" The truth is that paying a little more for your agent could be worth every cent.
#2 DON'T: Put your home on the market after you find your next one
It's just human nature to play it as safely as possible. That causes a lot of people to look around for their dream home before they actually bite the bullet and put their current one on the market. Unfortunately, playing it safe like this really does rob you of some of your key options - the most prominent of which is that it could make you rush to sell. Not just that, the Vendor of your dream home may not be happy to just sit around while you try to sell your place. In fact, they may just sell it to someone else.
#3 DON'T: Save as much as possible on the marketing
When you sell your home, your agent will present you with various marketing options - and you may just be tempted to 'say NO to the salesperson' as usual and save a few bucks. But in the world of real estate, there's a saying: "You don't sell a secret". Don't forget, when you go on the market, you're actually entering an extremely competitive marketplace - and if you skimp on the marketing, your direct competitors leap straight to the top of the list.
There are a lot more DON'Ts to consider, too!
So that's our top three selling DON'Ts ... but we could go on! Other common mistakes include unrealistically inflating your asking price, falling for a real estate agent's grand promises, being guided by your emotions, and trying to 'go it alone' as a DIY agent. Have you sold a house before, regretted something about the process, and can pass it along to others like you to swerve for their next sale? We'd love to hear from you.