Putting your home on the market can be a very stressful experience because you’re not only selling what’s probably your largest asset, you’re having to cope with all the emotions that selling your family home can evoke whilst also planning for a move.
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So says Claude McKirby, Co-Principal for Lew Geffen Sotheby’s International Realty in Cape Town’s Southern Suburbs, adding that in a lengthy process already peppered with potential pitfalls, it’s easy to make mistakes when under stress and, whilst some errors might be minor hiccups, others can jeopardise the sale or reduce potential profit.
“Avoiding common mistakes can make a big difference to how quickly your property sells and the price you receive, however many home sellers, especially those selling for the first time, often overlook crucial aspects of the selling process, leading to unnecessary delays, low offers, or a lack of interest from buyers.
“It’s therefore critical to know beforehand what the potential pitfalls are and how best to avoid them. Fortunately, most of these pitfalls are easy to circumvent with the right knowledge and preparation.”
According to McKirby, the following are common errors that sellers can easily avoid:
Overpricing your Home
One of the biggest mistakes sellers make is overpricing their property. It’s natural to want to get the best return on investment possible but setting the asking price too high can backfire. An overpriced home is likely to languish on the market for too long, and potential buyers will start to wonder what is wrong with it or become uninterested. Overpriced homes might also not appear in buyers' online searches as many set the price parameters in their search. And the longer a home stays on the market, the more likely it is to sell for less than its actual value.
To avoid overpricing, it’s essential to work with a knowledgeable real estate agent who understands the local market. They can provide a comparative market analysis (CMA), which examines the sale prices of similar homes in your area. Trusting this data and setting a realistic price from the outset will attract more interest, leading to a quicker sale at a fair price.
Neglecting Necessary Repairs
Another common error is neglecting repairs or updates that could make the home more appealing to buyers. Sellers sometimes assume that buyers will be willing to overlook minor issues or that they’ll prefer to make updates themselves, however, even small problems can deter potential buyers or lead to lower offers and price haggling.
Before listing your home, take care of any necessary repairs, whether it’s fixing a leaky tap, replacing broken tiles, or repainting scuffed walls. If your budget allows, it might also be worth investing in updates that can significantly boost your home’s appeal, such as modernising the kitchen or bathroom. A well-maintained and updated home not only attracts more buyers but also justifies a higher asking price.
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Failing to Stage the Home Properly
Home staging is a critical aspect of selling that many sellers overlook. A poorly staged home—or worse, one that isn’t staged at all—can be difficult for buyers to imagine as their own. On the other hand, a depersonalised, well-staged home highlights the property’s strengths and can help it sell faster and for a better price.
There are a few basic principles that sellers should follow, including decluttering, depersonalising, and arranging furniture to maximise space and light. The goal is to create a neutral, inviting environment where potential buyers can envision themselves living. Also, don’t forget about kerb appeal; first impressions matter, so ensure the exterior is clean and welcoming.
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Here are some boxes to tick when getting your home show house ready:
- Remove all evidence of everyday living – sweep floors, vacuum carpets, clean windows and empty dustbins. Pack away kids’ toys and any washing.
- Bathrooms and kitchens are usually the rooms most under scrutiny - so, make sure counter tops are clear, there are no dishes in the sink and no rings around basins or baths. Air fresheners or diffusers in bathrooms are a must. Also, make sure that there are toilet rolls for guests and that toilet lids are closed.
- Temperature – if it’s a scorching hot day, set the aircons and fans and if it’s chilly, either get the fireplace going or strategically place a heater to warm up rooms.
- Declutter – if you’re selling, chances are you’ll be moving soon, so pack what you can in boxes for storage. Full cupboards suggest there is not enough storage space.
- Depersonalise – this is the best way to help a prospective buyer imagine they can live in your home. In addition to removing photographs and kids’ artwork and shopping lists from the fridge, pack away personal items such as hair and toothbrushes and medication.
- Do some gardening – make sure the lawn is mowed, edges are trimmed and leaves are raked up.
- Pool hygiene – make sure your pool is clean and blue. You could even leave the creepy doing its rounds to prove all is in working order.
- Outbuildings – keep these as neat as your home as buyers will want to see them and don’t want to be confronted by everything that you have removed from the house or greasy and dusty garages!
- Lighting – open curtains to let in natural light and make sure that any dim corners are lit by lamps to create a welcoming ambience.
- Welcoming touches – add fresh flowers or fruit bowls and strategically position potted plants to add a dash of colour. An orchid in the bathroom and neatly folded hand towels can made a good impression.
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Not Being Flexible with Showings
Often sellers make the mistake of being too rigid with their schedule, making it difficult for potential buyers to view their home and this can significantly reduce the number of interested parties (and offers), as buyers often have limited time available themselves.
Try to be as flexible as possible when it comes to showings. While it might be inconvenient, especially if you’re still living in the home, accommodating potential buyers’ schedules is crucial as the more people who see your home, the higher the likelihood of receiving an offer and the sooner you’ll make the sale.
Ignoring the Importance of High-Quality Photos
In today’s digital age, the first impression most buyers will have of your home is through online photos and low-quality, poorly lit, or unflattering images can put off potential buyers before they have even stepped foot in your home.
How to Avoid It: Hiring a professional real estate photographer is a wise investment. Professional photos can showcase your home in the best possible light, highlighting its features and making it stand out in online listings. If professional photography isn’t in your budget, at least ensure that photos are taken with a high-quality camera, in good lighting, and from angles that best capture the space. Remember, great photos can significantly increase the interest in your home and help your property to stand out from the competition.
Accepting the first offer too quickly
Whilst receiving an offer is exciting, especially if it’s your first home sale, accepting the first one without considering your options can be a mistake. If your property has just hit the market, waiting a bit longer could bring in more competitive offers. However, don’t wait too long if your property has been listed for a while, as holding out for a better offer when the market is cooling can also be a risk.
Work with your estate agent to evaluate the offers based on the current market, the buyer’s situation, and the overall demand for your home. A balanced approach will help you secure the best deal without rushing the process.
Letting Emotions Drive Decisions
Selling a home can be an emotional process, especially if you’ve lived in it for more than a few years and have many fond memories and have forged close ties to the community. However, letting emotions influence decisions can lead to unrealistic expectations, overpricing, or refusing reasonable offers out of sentimentality.
Try to approach the sale as a business transaction and trust the expertise of your estate agent, who can provide objective advice based on market conditions and comparable sales. It’s important to detach emotionally and focus on the bigger picture—selling the home at the best possible price and within a reasonable timeframe. Consider the advice of your agent and be willing to negotiate to close the deal.
“By understanding these issues ahead of time, you’ll be better equipped to attract serious buyers and maximise your home’s potential value, thereby securing a successful sale and minimising your stress and frustration,” says McKirby.
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