The Biggest Myths to Dodge When Selling Your Home
Long-held beliefs about effectively selling your home are passed around as advice whenever someone puts their property on the market. Read this article to find out which advice you should ignore.
As soon as you tell your friends, family, or even work colleagues that you're considering selling your home, you will be met with a barrage of advice. Some might say, 'Price your home high; you can always come down,' while others might argue, 'Neutralise your decor; it will appeal to more buyers.' This unsolicited advice, often contradictory, can make the already complex and nuanced process of selling a property even more confusing. Most adults only sell a property a handful of times, so the advice passed on is often inaccurate or outdated and very likely unhelpful in selling your property.
This article debunks the commonly held myths about selling a property in the UK. By shedding light on these misconceptions, we aim to empower you with the knowledge you need to ensure a successful sale and move.
- Price high to allow room for negotiation. We all know that the price is open to negotiation when we see a property on the market for sale. There is no guarantee that your offer will be accepted, but you will try anyway, offering a price lower than the advertised price to see what you can get it for. We all love a bargain, don't we? This is why many sellers think they should mark up the listing price of their property to achieve the figure they want. But, there is a fine line where this can push your property price so high that potential viewers will simply not come to view it. They will judge the property as overpriced, and only the very forward buyers will dare to offer their opinion on the price to you. This will result in fewer viewings, lower interest and, ultimately, a price reduction.
- Painting everything neutral to sell - property advertising has changed dramatically over the last 10 years, with almost every property search beginning online. Neutralising a property's decor was good advice years ago because buyers could consider how they wanted to style and decorate it from a blank canvas. But, with property listings online being scrolled through, neutralised properties with white or magnolia walls become bland and easy to skip past. Daring to be different and standing out from the crowd is good because it breaks up the monotony for property searchers and attracts attention through the sea of similar homes.
- Only market a property during summer - It was once thought that the property market was seasonal, being quiet through the winter months and springing to life in the springtime. This meant that you would have to be ready to market your property in Spring, and if you didn't sell by Autumn, you could stay put until next year. This is limiting in so many ways and is absolutely not the case. The property market has peaks and troughs throughout the year. Mid-summer is often quieter because many buyers, and indeed sellers, are on holiday, and perhaps their attention is a little distracted by the complexities of school holidays and childcare to fully commit to a property search. Likewise, through the colder, gloomier winter months, lots of deals are done when traditionally it was thought they wouldn't be. Property sales are not governed by the time of year but by the requirements of the individuals. Even though it can sometimes be a little quieter here and there, properties still sell, and people still move. And the peaks and troughs don't last too long, meaning things pick up quickly after a slower period.
- Remove all personal items and family photographs, etc. - You are living in your home; it is not a show home. Anyone viewing your property will also have family photographs and personal items around their house. Fully depersonalising your property to market it for sale is to remove the personality and soul from your property. Leave your photos up and enjoy your belongings while selling; it will be fine.
- Online agents are doing the same job as traditional agents - this is a common misconception. In recent years, we have seen the introduction of different styles of estate agencies that sellers can choose from when they try to sell their homes. There is the 'traditional' estate agency method, where an agent with an office, often on the high street, will market your property for sale, offering advice and guidance along the way. They will negotiate with the buyers on your behalf to get you the best possible price and will monitor and update you about the legal process, culminating in the completion of the sale and your moving day. In contrast, there are 'online' options, which are often significantly cheaper, arguing that they don't have an office to pay for, so they can afford to charge less. Many believe that all agents are the same, so why would you pay more for a traditional agent when the only difference is the premises? However, a significant difference exists between a traditional estate agency and an online option. Contact, advice and accessibility are just a few things you won't get from an online agency. Often, there is no negotiation on your behalf or regular updates through the legal process, as this is left to the solicitors. You might not even have a point of contact to call if you have questions. In essence, an online agency is like a DIY property sale, providing you with an online listing to attract buyers. Considering that you will likely be doing most of the sale yourself, their fee might seem quite expensive.
Selling your home is a tricky process, and you want to make sure that you don't mess up the sale of what is likely to be your most significant investment. Our team of property experts is here to provide you with the guidance and advice you need to confidently sell your home. Don't hesitate to get in touch.