Selling a home in 2022? Here's how to make it easy
Category Seller Advice
If you're planning on selling your home in 2022, you need to find ways to do so easily.
That's because 2022 is a challenging year for homeowners looking to sell their properties, especially considering economic conditions and the changes in the property market. You deserve all the help you can get to make the sale of your house a stress-free experience.
Watch our tips for making things easier and read on to find out how to take the effort out of selling your property:
1. Price your home right from the start
That way, you won't have to go through the hassle of lowering the price later on - and face all the consequences of doing so.
You heard right: Promoting your property at a price that is too high and then lowering it, later on, has knock-on effects. For one, in 2022 most online property portals will show a "Price reduced" banner on digital listings, which can often make interested buyers think that there is something wrong with your property. So instead of being attracted by the discount you offer, buyers may get put off by the new price.
Another reason why you shouldn't lower your price after promoting it at a higher amount is that it leaves the door open for buyers to negotiate. If people see that a homeowner has reduced the price of their property, they might take it as a sign that the seller is open to any offer.
If you choose the Right Price for your home from the start, you're more likely to attract quality buyers. Grab their interest from the start with a price that suits their pocket and accurately reflects the value of your home.
Avoid all the hassles that come with reducing the price of your house mid-sale by choosing the right price for your property from the start. Read how here>>
2. Work with ONE estate agent when selling your home
This keeps you from going through the trouble of liaising between different agents and accommodating each agent's viewing requirements.
You might think that getting more agents to work on the sale of your property will make it sell faster and for a higher price. And with the massive amount of realtors and real estate agencies out there in 2022, sellers are more tempted than ever to sell their property through an open mandate (where many agents are involved).
But most of the time it just leads to more work for you.
That's because selling your property via an open mandate means no single person is responsible for the sale. Without an agent dedicated to the sale of your property, things often happen slower and agents are less motivated to find sellers that are willing to offer the price you're looking for.
Not only that but with multiple agents come multiple viewing times and several contacts to liaise with. Instead of speaking to one person and accommodating one agent's clients, you now have to make time for a handful of realtor's clients.
Avoid the admin that comes with an open mandate by choosing an exclusive mandate. Read more here>>
3. Do a quick round of essential maintenance
This will help you avoid any lengthy negotiations with a potential buyer who might not be willing to pay your price for a property in disrepair.
They say a little can go a long way and that is definitely the case with property maintenance. There's nothing worse than hearing that a buyer won't put in an offer on your home until THIS is fixed or THAT gets cleaned up. Worse yet, buyers might put in low offers that you can't accept, all because your house needs a fresh coat of paint or basic repairs.
It's important to realise that the tough economic conditions, cost of living and rising costs of home loans in 2022 have put buyers under financial stress. People simply don't have the same funds as a few years ago to buy a home to fix it up at their own expense.
Save yourself the stress of negotiating with buyers by getting essential maintenance done, right from the start. Ask your estate agent what they think you should fix, paying special attention to walls, cracks, window frames and messy gardens.
4. Offer flexible viewing times for potential buyers
If you pick time slots that suit most potential buyers, people will be less likely to cancel viewing appointments at the last minute because they can't get away from work or are stuck in traffic.
When you sell your house, you're in a unique position. You are a client working with an estate agent, but you're also in the business of trying to sell something. Make the experience easier by thinking like a business owner, rather than a client. Ask yourself: What can I do to make my house sell more easily? One thing is to make sure that buyers can get to you without too much hassle.
That's why choosing timeslots for viewings that will suit most people makes such a difference. Once buyers don't have to move heaven and earth to visit your property, you'll get more interest in your home - and more offers too!
5. Be open to negotiating buyer offers when you're selling
The more open you are to some level of negotiation regarding the price of your house, the faster this part of the process will be over.
One of the things that can make the process of selling your house difficult is the tough decisions you need to make along the way. One such decision is whether you should accept an offer on your house that is lower than expected.
The reality is that few homeowners sell their properties for the price at which they were promoted. Most of the time a buyer will offer you an amount that is slightly lower than the price you want. You're very likely to receive such offers in 2022 when the higher cost of home loans and rising food and fuel prices are putting the squeeze on most buyers.
When you receive an offer that is lower than your asking price, you can choose to be upset about it and reject the offer outright - or you can approach this part of the sales process strategically.
Try to take the emotion out of your decisionmaking process by remembering that buyers don't have the same emotional connection to your home as you do. To them your house is just a couple of walls and a piece of land - for now.
Prepare yourself by deciding how much lower you're willing to go on the price of your house, so you're ready when the offer comes.
6. Get help keeping your home clean during the sale
Cleaning your property before viewings might sound like a schlep, but if your place makes a bad first impression, it will only delay the process.
You're not a messy person, so how bad can it be? The reality is that while you're trying to sell your house, life goes on and you have to keep living in your home. And things can sometimes get a bit messier than you realise.
In 2022, the rising cost of home loans is making buyers extra picky about the properties they choose to invest in. Your home is going to have to compete against several others on the market, and those that make a good first impression will have a larger chance of success.
Streamline things by finding someone that can help you keep your home tidy, even if it's just for the time being. Make sure to also get the property cleaned up before your estate agent comes to take photos.
7. Declare any and ALL faults in your home
If there's an issue with your home (like a leaky roof during the rainy season) which you don't declare, it can come back to bite you after the sale.
Few homeowners know that the buyer of your home has the legal right to hold you accountable for undeclared defects to your property months after the sale went through.
Your realtor will ask you to declare any defects to your property in a form. It is important to be honest about all the defects in your house, including the latent defects that aren't visible or not a problem during certain seasons of the year.
Avoid legal hassles by being upfront about all problems with your property, even those that aren't noticeable during the sales period. Declare every fault you can think of in writing to your agent.
8. Get your documentation in order before selling your home
Hunting down documents or waiting for new documentation is a hassle that can be avoided by getting your paperwork in order from the start.
You'll be asked to provide several documents during the sale of your home, and some of these are harder to come by than others. If you've already paid your bond, make sure you know where your original title deed is.
Or if the property being sold is a deceased estate, work with your executor for the executor letter and the Master's Office for as many other relevant documents as you can get your hands on. Your realtor will guide you to find the rest so ask them if you're unsure of what you need.
Selling your home in 2022 doesn't have to be hard, especially if you plan and make the right decisions.
But with the unique challenges that you will face to sell your house this year, you'll need a uniquely qualified estate agent to help you sell your house. Find out what to look for in our article, What to expect from your estate agent in 2022.
Author: NS Property Solutions