Tip 1 - Do your research.
It is worthwhile to educate yourself on what property transactions have occurred in your immediate area. Identify past property sales and properties currently for sale. Try to compare those properties that are similar to yours. Base your comparison on number of bedrooms, bathrooms and land size. Try to refer to sales around ½ kilometre radius from your property. Companies like RP Data and OnTheHouse.com.au offer these types of reports for the public.
Research your potential selling agents. Look for agents who regularly stay in touch with you through Newsletters or market updates. Also consider which agents have the most sign boards in your suburb. These agents may have specialized knowledge of property sales in your area. Be sure to ask questions based on their results and who are the buyers most suited to your property? Ensure you ask about commission rates and advertising expenses for campaigns. Remember that you normally get what you pay for, so going with the cheapest commission agent could impact the amount of time your property stays on the market and ultimately the eventual sale price.
Tip 2 - Use a Professional Real Estate Agent
Don't be tempted into trying to sell your property privately. Paying an agent a commission to market your property is worth the money. Most real estate agents will have an existing database of buyers including property investors who they can target your property to the instant it is on the market.
Tip 3 - Be realistic in setting your asking price
Have realistic expectations in what you will sell your property for. As mentioned in Tip 1, do your homework. Compare your property to those you will be competing with on the market. Go and visit them, then price your property above or below those that you "honestly" feel are better or worse than yours. Try to be impartial in this process. Setting too high an asking price can result in buyers ignoring your property all together. Overpriced properties that stay on the market over 90 days get a bad reputation with buyers and will continue to struggle to gain interest and offers.
Tip 4 - Ensure your property has "curb appeal".
Many buyers will explore the area they want to buy in and do "drive by" inspections. Remember first impressions are lasting. The front of the property will normally be the first thing buyers see. Properties can immediately be rejected by buyers if it is untidy and not maintained.
Ensure the front of the property is tidy, clutter free and the yard is well manicured.
Your "curb appeal" should also extend throughout the whole property, inside and out. Remove as much clutter as possible and promote a feeling of openness and space. Try and store away personal effects like photos, ornaments, children's toys and pet accessories.
Tip 5 - Be Absent at Inspections
Not only should owners be absent for any inspections but pets should be as well. Not all buyers enjoy pets, so this could be a good time to take your pet for a walk.
Teenage children / young adults who stay in bed whilst inspections are on does not allow buyers the opportunity to inspect the property properly.
Allow your agent to show purchasers through your property and speak with them openly and in private. Your agent will report back to you any interested parties and their feedback. Staying at the property shows you do not trust your agent and will make prospective buyers uncomfortable.
No comments:
Post a Comment