Overpricing Your Property
The single most common and costly mistake Perth sellers make
The mistake
Setting the price too high because of emotional attachment or unrealistic expectations. Overpriced properties sit on the market longer, eventually selling for less than they would have if priced correctly initially.
What to do
Research recent sales of similar properties in your suburb using RP Data or realestate.com.au sold listings. Get multiple appraisals from different agents. Consider the time on market for comparable listings and price competitively from day one.
The Other 11 Costly Mistakes
Each mistake represents thousands in lost value. Filter by category to focus on what matters most to you.
Poor Quality Photos
First impressions matter - bad photos cost you thousands
The mistake
Using smartphone photos taken in poor lighting, showing cluttered rooms, or missing key features. 90% of buyers start their search online, and poor photos mean they never click on your listing.
What to do
Hire a professional real estate photographer ($300-$600). At minimum, use natural light, declutter every room, and take photos from corners to make spaces look larger. Include drone shots for properties with large blocks or views.
Inadequate Property Presentation
Selling your home in its current state without improvements
The mistake
Listing a property without decluttering, cleaning, or minor repairs. Buyers struggle to see past mess and damage, leading to lower offers or no offers at all.
What to do
Create a room-by-room checklist: declutter, deep clean, fix minor repairs, touch up paint, improve curb appeal. Small investments ($500-$2,000) in presentation typically return 300-500% through higher sale prices.
Accepting the First Offer Too Quickly
Jumping at the first offer without proper evaluation
The mistake
Accepting the first offer out of excitement or fear that no other offers will come, often leaving thousands on the table. First offers are frequently test offers to gauge your flexibility.
What to do
Evaluate each offer holistically: price, deposit amount, finance conditions, settlement date, and buyer circumstances. Counter with reasonable terms and allow time for multiple offers if your property is well-priced.
Emotional Negotiations
Letting emotions drive your negotiation decisions
The mistake
Taking low offers personally, getting defensive with buyers, or making impulsive counter-offers based on frustration rather than strategy. Emotional decisions cost money.
What to do
Treat negotiations as a business transaction. Set your minimum acceptable price in advance. Take time to respond to offers rather than reacting immediately. Consider using an agent or solicitor as a buffer.
Hiding Property Defects
Failing to disclose known issues with the property
The mistake
Not disclosing known defects hoping buyers won't notice. In WA, sellers must disclose material facts. Hiding defects can lead to legal action, cancelled sales, or financial penalties after settlement.
What to do
Complete a full disclosure statement honestly. Document all known issues including structural problems, flooding history, disputes, and unapproved works. Honesty protects you legally and builds buyer trust.
DIY Contracts Without Legal Review
Using generic contracts without professional guidance
The mistake
Downloading generic contract templates online or trying to modify standard contracts without understanding WA property law. Missing clauses or incorrect terms can void the contract or expose you to liability.
What to do
Use the standard REIWA contract form. Engage a settlement agent or conveyancer ($1,200-$2,500) to review all terms. Have a solicitor review special conditions, particularly for complex sales.
Wrong Listing Timing
Listing during slow market periods or rushing the process
The mistake
Listing during Perth's slow seasons (December-January, school holidays) or rushing to list without proper preparation. Poor timing reduces buyer pool and sale prices.
What to do
Perth's strongest markets are typically February-May and September-November. Allow 2-4 weeks for proper preparation before listing. Monitor local auction clearance rates and days-on-market trends.
Ignoring Online Marketing
Relying only on signboards and word-of-mouth
The mistake
Not listing on major property portals like realestate.com.au or using poor-quality online listings. 95% of Perth buyers start their search online - if they can't find you there, you don't exist.
What to do
List on realestate.com.au as a minimum. Upgrade to featured listings in competitive suburbs. Write compelling descriptions highlighting key features and ensure photos are professional quality.
Not Understanding Buyer Finance Conditions
Accepting offers without evaluating finance risk
The mistake
Accepting offers from buyers without pre-approval or with unrealistic finance conditions. When their finance falls through weeks later, you've lost valuable marketing time and other potential buyers.
What to do
Request evidence of pre-approval before accepting offers. Negotiate shorter finance clauses (14-21 days rather than 28). Require reasonable deposit amounts (5-10%) to ensure buyer commitment.
Underestimating Settlement Costs
Not budgeting for all the costs involved in selling
The mistake
Only considering agent commission and forgetting settlement fees ($800+), government charges, penalty interest if settlement delays, and potential capital gains tax. These "hidden" costs can total $3,000-$5,000+.
What to do
Create a detailed selling cost spreadsheet including: settlement agent fees, mortgage discharge fees, marketing costs, potential CGT, and moving expenses. Get quotes from settlement agents before listing.
Not Tracking Listing Performance
Flying blind without understanding how your listing performs
The mistake
Not knowing how many people view your listing, which photos they engage with, or why viewings aren't converting to offers. Without data, you can't improve your strategy.
What to do
Monitor portal statistics: views, saves, enquiries, and open home attendance. If views are low, improve photos or reduce price. If views are high but offers low, reassess presentation or pricing expectations.
Related Articles
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