Ensuring your vendor is well educated in the selling process is essential for success. If your vendor is not educated on how to act and what to and what not to disclose during your selling campaign, you can leave both of you very vulnerable. Here are some tips to suggest to your vendor to ensure you represent your house in the best possible way.
Should the vendor attend the open house? At an OFI, there will be serious buyers who intend to talk honestly about what they think, having the vendor there can sometimes put them off. At any type of open house or showing allowing the vendor to stay can be unsettling. It is recommended you keep your vendor away.
Both you and your vendor need to engage with the neighbours: If the property for sale potentially will be renovated, having the neighbours on board is essential. Conducting some basic chats with the next door neighbours about noise or other disruptions that may occur before the house is on the market can ensure they have the neighbour on side, and prevent objections which can fundamentally increase sale price.
The vendor needs the house in perfect condition: Basic upkeep is an important part of selling your home on many levels. A house that needs cleaning or repairs, even repairs to the furniture that buyers won’t be keeping, can be extremely distracting and give the impression that the house hasn’t been cared for and could need major repairs. Bad smells in particular, including pet smells, can be an immediate turnoff for potential buyers. Definitely don’t try to hide problems you know about; they won’t necessarily stay hidden.
Unrealistic expectations: Keep in mind that potential buyers may not be wiling to pay what your vendor thinks the house is worth. Having your valuation backed up with market knowledge and comparative homes that have sold can prevent battles over $$. It is essential to educate the vendor that their asking price is reasonable for the market, and from the outset encourage that there will be some form of negotiation with prospective buyers.
Having your vendor aware of these issues and preparing them before sale will ensure the buyer is educated and understands the market better.