5 Top Mistakes First Home Sellers Make

Ever wanted to sell your house? Not sure how to market it? Here are 5 common mistakes that first home sellers make: 

1. Overpricing 

Many sellers often use the tactic of overpricing their property and gradually reducing the price as the months go by. However, you might be missing the opportunity to sell your house to buyers who saw your listing within the first month on the market. Not only will you be wasting your time and effort, but you might also gain less profit compared to if you priced you property correctly at the start. 

According to Michael Hahn of Compass, who sells $1 million homes in New York, it may be better to price your house at market value or even slightly lower than that in order to gain the most profit in the end. 

2. Not paying attention to market conditions 

Sellers should remember to do research on their property in order to know how to appropriately price their property. Market fluctuations can affect sales to a large extent and affect how people react to your property. Other factors could include your location of your property, such as whether it is close to transport or eateries. 

See more: Find out how much your HDB is worth through a free report

3. Not decluttering your home 

Many people make the mistake of not decluttering their homes. With too much furniture present, buyers may have a tough time envisioning how much space there actually is in the house. Moreover, by failing to consider buyers’ perspectives and setting up their house as beautifully as possible, sellers might be losing buyers. Make time to create a strong first impression —- it’s worth it.

See more: How to prepare your home for viewing

4. Not disclosing problems or past history of your home

Trying to hide the not-so-pleasant sides of your problems in an attempt to upsell it? Don’t make this mistake! A home inspector could detect these problems which may affect negotiations in the future. Moreover, it may affect the safety of future homeowners. Be truthful and make sure you do the necessary repairs before you try to sell your home.

5. What used to be a mistake: not choosing an agent 

The role of an agent used to be essential: Helping to market your house, finding you sellers, facilitating tons of paperwork, et cetera. However, with Trubid, sellers can list their HDB flats and interested buyers can bid for their coveted property. It’s that simple! Say hello to lesser paperwork, less need for agents and more transparency.

See more: New way to buy and sell HDB 

Now that you know 5 mistakes made by first time sellers, be sure not to commit them. Send this article to your friends to spread the message! Let us make the property marketplace a better place for everyone.

Resources

Warren, K. (2019). The 9 biggest mistakes people make when they try to sell their homes, according to real-estate agents. Retrieved 16 December 2019, from https://www.businessinsider.sg/mistakes-people-make-trying-to-sell-home-real-estate-agents-tips-2019-5/?r=US&IR=T

Gibson, R. (2019). Top 10 Mistakes When Selling Your Home. Retrieved 16 December 2019, from https://freshome.com/moving/top-10-mistakes-when-selling-your-home/

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