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5 mistakes to avoid when selling your house

By Kevin Kelly

One of the great stresses of the life cycle of owning real estate is the process of selling it (should you choose to). There's so much to get right and mistakes can negatively impact the final sale price.

Here are five mistakes to avoid when selling your property.

1. Selling without an agent

Trying to sell your home on your own is like trying to play a game of dodgeball blindfolded – you'll be lacking a key source of information about how to win at selling your property. Real estate agents have incredible reserves of knowledge about selling property, so employing the services of one – like one of the talented crew at Ray White Bunbury – is the first thing you should do when selling.

2. Setting the price too high

The first price you set is the one that sticks in potential buyers minds. If it's too high in the beginning, you're going to a) turn some people off the property immediately and b) make those still interested feel as though you're being unfair. While it's true you can always lower the price, people may be less willing to negotiate with someone they're sceptical will engage in good faith.

3. Overcapitalising

Less a mistake in the selling process itself than one undertaken whilst owning the house, overcapitalising – spending more on renovations than they add value to the house – can eat up any of the capital gains you may have made during your tenure as owner. It's fine to spend "too much" on renovations to make a house your own, but if you do so, make sure you're aware of the costs.

4. Failing to advertise

You might think there's no way anyone would want to miss the sale of your house, what with it's incredible location, backyard and contemporary design. But if people aren't aware of it, they won't place offers or attend the auction, no matter how much they would have wanted to had they known.

5. Not keeping up with maintenance

If the paint on your weatherboards is chipping, the seals on your windows are leaky or the hot-water cylinder's thermostat doesn't work, you can't expect your property sale to go well. Don't let the little jobs stand in the way of a sale – fix all the things that need fixing before you decide to list your property. 

Avoiding these mistakes is easy when you work with the professionals at Ray White Bunbury. For more information on selling your real estate in Bunbury, contact us today.

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