Emotion a hindrance for sellers

By Emma Goodwin

When you're buying a home, you have a simple checklist of things to look for. But when you're selling, the procedure can be a little more complicated.

Selling a house can be a stressful experience, and there are things to consider to make the task easier.

First of all, think of the sale as a business transaction and try to disconnect your emotions. A decision to buy a property is often based on emotion. But when you sell real estate, you need to remove emotion from the equation. You need to think of your house as a marketable commodity.

The goal is to get others to see it as their potential home, not yours. If you don't keep this in mind, you could inadvertently create a situation in which it will take longer to sell your property.

One of the first things to do is remove most of your personal trinkets. Things that may remind you of your wonderful trip to Morocco in 1987 may look like a whole heap of clutter to potential buyers.

So tidy rooms and cupboards to remove clutter, and remove extra furniture so that rooms look more spacious. If necessary, rent a storage unit temporarily, or give away items you no longer use.

First impressions are important. Fix small defects such as peeling paint and cracked windows, and get the cleaning equipment out.

You need to have your house spotless. Take special care with the kitchen, bathrooms and windows, and look upwards. Many a first impression is spoiled by cobwebs hanging from the ceiling.

Go through the filing cabinet and get every piece of paperwork you have on your home. If necessary, go to your local council and get the file on your house, so that any questions about legality of boundaries, building work or anything else that could stand in the way of a quick sale are taken care of.

Put together pertinent information, such as the title documents, valuation documents, surveys, mortgage statements, information on upgrades and any plans for improvements.

Select a property sales agent by conducting a series of interviews - until you find the perfect one for the job.

Get a registered valuation of your property and ask any prospective agent for a market appraisal.

Then decide on a sale strategy with your agent. You can select from a range of different methods, including auction, tender and negotiation. The Real Estate Institute of New Zealand has a glossary of real estate terms that explains these methods.

You and your agent then need to set a realistic marketing price, so that you attract as many buyers as possible.

If your home is priced too high for current market conditions, you may deter buyers. They will look around, and conclude that other properties are of better value.