The property-selling process will consume your time, energy, and effort. Throw in your resources and emotions, too, into the mix. Selling a home is both a strenuous financial and emotional transaction, after all. Having that attachment and personal connection with a property is normal, and to let go of a place you’ve lived for a long period of time can be a challenge in itself.
Not to mention, the whole ordeal is going to feel like an invasion of privacy, as homebuyers and investors go through your old rooms, cabinets, and spaces you used to love. Imagine showing people your home and getting lowballed, right? It can be hard not to take offense!
These are only some underlying hurdles for property sellers, especially for first-timers. There are plenty more of these seemingly easy mistakes you can avoid. And we’ve compiled them here so you can sell your home minus these regrettable moves.
Expecting the Selling Price
Remember, overpriced homes will always be tough to sell. Your first instincts will tell you that the number you’ve come up with is too low, but keep in mind that if you really want to complete a sale, that asking price is going to be negotiable. Don’t worry though. If, for instance, you have underpriced your home, it can be a great strategy to get more people interested in the property. You can always decline any offer that is too low for you.
Yes, you can still set a fair price range based on comparable homes, market analysis, zonal value, and the like. But generally speaking, leaving room for negotiations is something you should be open to from the start.
Download: Best Properties to Buy in the Philippines for Different Budgets in 2021
Skimping on Photos and Information
Taking quality photos of your property is no minor detail in the selling process. No matter how beautiful your property is, having bad pictures of it will do you no good, considering that your listing is going to appear online, too. Feel free to do video tours if you can. You may even hire a professional to get the shots for you. Buyers will always want to have a better feel of the rooms. They want a space they can picture themselves living in.
Your listing’s information should be complete, as well. A lot of sellers think that more inquiries mean better leads, but that’s just not the case. Be sure to not skimp on details about any major repairs and damages. This can get you in big trouble if you do. Note that you can never get away with deliberately hiding any flaws in the property. Disclose all that you know is necessary.
Not Preparing Your Property for a Sale
Staging your condominium or house and lot is part of the process. Strangers will visit the property expecting what they inquired about. That’s why problem areas should be addressed as soon as possible. From paying for repairs and renovation expenses to hiring cleaning and decluttering services, these factors can make an impact on just about any home seeker. These are best done in advance, too. You don’t want your potential clients noticing any odors, dust, and cracks as they tour the home. One faulty faucet or doorknob can turn them off instantly.
Also, if you have a buyer visiting the property, be as engaged and accommodating as you can be. You may feel like it’s such an inconvenience to do this over and over again, but trust us, an uninterested seller never makes a good impression.
Hesitating About Hiring an Agent
Be more decisive with your decisions. You’re going to thank yourself later for it. Of course, selling the home on your own isn’t impossible. But you are going to have to spend even more time, energy, effort, and money to learn the ins and outs of the industry in a condensed period of time.
While you can even ask for help from a friend, you should definitely look into the possibility of seeking professional real estate agents. The paperwork and the networking are never easy, either. Having issues with these two aspects alone can delay just about any deal.
A good, honest agent will have your best interest in mind. Ohmyhome property agents, for instance, can do a comparative market analysis and connect you with the right buyers. Their goal is to make the negotiation process as seamless as possible. Best of all, consultation with them is free.
Before selling your property, make sure you know all the risks and repercussions of having an agent or not. Selling a house is a long, tedious process, to say the least. But believe us when we say that, even though it’s great to learn from our own mistakes, in property, learning from other people’s mistakes is just better—and less expensive, too.
Need assistance with selling your property? Feel free to get in touch with an Ohmyhome property agent to get started. For more information on the best and latest property listings nationwide and how our Ohmyhome’s online ecosystem helps sellers like you, visit Ohmyhome.com or download the official Ohmyhome app.
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.