Tips to help you sell your home
In order to receive the absolute best price there’s lots to consider in preparing your property for sale.
How to achieve a quick sale?
To achieve the quickest property sale for the best price their are 3 crucial elements required. And they are Presentation, Price and Marketing.
Presentation and Price are linked. For example if a property is priced correctly in comparison to how well it presents to other similar properties, then it will sell quickly. It all comes downs to the perception of the buyer. After all, a buyers perception is their own reality. In other words just because a property has had $200,000 worth in renovations does not mean in the buyers eyes they will see that value nor necessarily appreciate the type of renovation. You have to always see it from the buyers eyes.
And of course the best price and presentation won’t matter if no one can see it. So excellent marketing is the third critical element to a quick sale.
When to Sell?
The best time to sell is when you want to sell as there is no magic time to sell like spring for example. Consider this, if everyone sold in spring which is often thought of as the best time to sell, then it gives the advantage to buyers as there is plenty of stock to choose from and you will just have more competition. On the flip side if you sold when there were less people selling and had less competition, that means the laws of supply and demand put you in the drivers seat. So if you want to sell, the sell, don’t try and guess the market.
How to prepare?
Maybe a better question is how early should I prepare as it can be a reasonable sized list. First size up your competition. Go around to as many open homes that match closest to your home and see what they are doing to sell their home.
- Starting from when you first pull up, observe the street frontage. Is it welcoming, neat and tidy?
- Next look at the outside of the house as you approach. Does it look tired or well presented? Has it had a paint job recently? Are the gardens well maintained?
- Next inside the house does it look like it’s out of a home beautiful magazine or is it cluttered and dated. Once you’ve explored enough homes and used this same criteria go back and do the same assessment with your property. Do you need to spend some time and money to be able to compete? If you’re competitors have then the answer is YES, so do you.
Next what items should be in your list to prepare.
A new paint job is one of most cost-effective ways of freshening your house up, inside and out. If you’ve recently painted, this is less important — though if your color choices were bold or unique, you might want to tone them down with some crowd-pleasing neutrals. Your stager, if you hire one (see below) can help advise on the best colors.
- Window washing
When did you last wash them — especially on the outside panes of upper floors? Sparkling windows make a surprisingly large difference to buyer perceptions. Hiring someone will cost a few hundred dollars, depending on the size and height of your home. Which fix ups are necessary (such as replacing cracked windows or stained carpeting) and which (such as major remodels) should be left for the buyer to handle is a separate discussion in itself. But there’s practically no house that couldn’t use some quick maintenance to make sure it looks well-cared for and leaves fewer items for a home inspector to comment on.
- Interior Presentation
Staging your home or having a decorator help declutter, reorganize, and in some cases refurnish it after you’ve moved your stuff out, can help impress buyers in a big way. In fact, studies show that buyers pay more for staged homes. Expect to pay a professional stager a few thousand dollars for their services.
- Adding decorative or new items to your home (if you’re not hiring a stager)
Even if you decide to save money by staging your own home, you’re almost guaranteed to have to buy things like a new doormat, new plush towels for the bathroom, flowers for the showings, and more, depending on what your house needs. Other likely possibilities include new couch cushions, area rugs, a nice table runner, and artwork to replace your wall of kids’ photos.Buyers are increasingly interested in the state of your garden. If it’s already fully planted, you’ll want to hire someone (or put in some sweat equity) to get it raked, pruned, and otherwise tidied up. If the area hasn’t already been landscaped, plan to add some new greenery and flowering plants. (By the way, if you plant in containers, you can take the containers with you when you move — unless they’re so big or incorporated into the property as to be considered “fixtures.”) Many sellers simply put in new soil — but do the buyers a favor and don’t leave the plastic mesh backing on it, in case the buyers want to replace it with something more interesting and environmentally friendly.
- Pre-inspection reports
Having a professional inspect your house for either termite/pest damage or other structural matters isn’t required , nor expected. Buyers expect to pay for their own inspectors, and in fact will probably want to hire ones they know and trust regardless of whether you’ve had the property inspected first. Yet there are situations where you might want to have the house inspected before letting buyers in — for example, if you’ve owned the property for many years and wonder whether any problems have arisen “below the hood” that you’re oblivious to, and would perhaps prefer to fix before buyers have a chance to get upset about them. Inspections will run you upwards of $600.
- Lights while the house sits empty
If you’ll be moving out before putting your house on the market, expect to pay double utilities for a while. You’ll want to leave the lights on in the house for sale, or program them to stay on during any hours that potential buyers and their agents may be stopping by the place. No one likes to enter a dark house and fumble around for the light switches. It also adds a safety aspect when the property is vacant.
- Extra homeowners’ insurance for the vacancy period
Your insurance may not apply when the home is “vacant,” which term will be defined in your policy. You should check this.
About Selling with an agency
The main skill you hire an agent for is their ability to be able to negotiate on your behalf to obtain the highest price without getting bogged down with any negative comments or insulting offers. An agent is not emotionally attached to your home therefore can stand back and take a birds eye view without being dragged into negotiations emotionally. Hiring an intermediary person as negotiator on your behalf is not new and happens in many high dollar transactions around the world in many professions. It’s just what you do if you want the highest possible price without the hassles.
A licensed real estate agent is controlled by the law, specifically the Property Occupations Act. This means that licensed agents must meet certain industry based standards and codes of conduct. The law provides for legal processes and fines if registered agents do not act appropriately. If you buy or sell property privately, you will not be protected by these laws.
Deciding on an Independent or Brand agency? Consider these points below.
Buyers don’t care what agency sells their dream home. They are just interested in looking at properties that are in their price range and in the suburbs of their choice.
|Only branded agencies can achieve higher sales prices?||False||Most independent agencies have staff that are the best of the best and don't need to be part of a large brand.|
|Only branded agencies can achieve quicker sales?||False||Again, most independent agencies have staff that are best of the best and don't need to be part of a large brand.|
|Only branded agencies have most experienced Staff?||False||There are more independent agencies in Australia than big branded agencies. And most outperform the large brands. And there are more "rookies" that are part of larger brands.|
|Only branded agencies have access to resources such as massive buyer databases?||False||We have access to over 50,000 buyers in Australia and overseas. Furthermore we have names, numbers of the top 500 wealthiest people in Australia.|
|Only branded agencies have the most cost effective marketing prices?||False||We have negotiated the exact same rates and marketing packages.|
|Only branded agencies will have the highest commission fees?||True||Yes that is true, as they have to recoup higher cost office space and franchise fees.|
|Independent agencies are growing fastest?||True||This is true. Big brands are not growing as fast as independents.|
|Independent agencies can be more flexible with their offering?||True||This is True. Many bigger brands are restricted by how they operate and cannot offer customised solutions as an independent.|