Housing: The five biggest mistakes you can make when selling your home

The Project has been telling you all about buying houses this Real Estate Week.

But on Friday night, some experts revealed the biggest mistakes people make when they are selling.

So if you're thinking about selling, look no further. Here are five pieces of advice:

1. Follow the three 'Ps'

Sell Direct director Andrew Wells told The Project the biggest mistake he sees people make is not following the three Ps (price, presentation and promotion).

"Do a little bit of research, and get a feel for what stuff is selling for in your region," he says.

2. Don't spend a lot of money on renovation 

There's no need to put in a brand new kitchen and spend a lot of money, Bayley's sales manager Bernadette Morrison says.

She told The Project if you want to freshen the place up a bit, some paint and some new carpet - both much more affordable, would do the trick.

Housing: The five biggest mistakes you can make when selling your home
Photo credit: File

3. Watch those commission fees

Emphasis Real Estate Lt principal Mike van Wagoner told The Project there are some companies now reducing their commission fees.

"There is also an opportunity to negotiate with that agency more," he says.

Housing: The five biggest mistakes you can make when selling your home
Photo credit: Newshub.

4. Be honest

If you don't disclose potential issues with your property, you run the risk of the agreement falling over, Real Estate Authority general counsel Phirak Appleton says.

She told The Project you could also be sued for providing misleading information.

Housing: The five biggest mistakes you can make when selling your home
Photo credit: Getty

5. Sell any time of year

Many people assume the best time to sell your property is in spring or summer.

But that's a bit of a myth, as Corelogic senior property economist Kelvin Davidson revealed.

Cape Reinga at Sunset.
Photo credit: Getty

"Buyers do reduce away in winter, but so do sellers," he told The Project. "So your competition as a seller is reduced." 

Newshub.

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