Why are you selling? This is the most important question to ask yourself, as the answer will determine many factors during the sales process. What factors you ask? Factors such as your urgency to sell (your timeline), how much you will receive (depending on market conditions) and the options available to you in terms of the method of sale.
Research is typically conducted by all sellers before choosing to sell. But to what extent have you actually researched? It costs nothing to engage an agent to conduct market research for you and discuss the current real estate climate, so before jumping into the deep end, call up your local agent and book a time to go over your specific property.
Agents come in all shapes, sizes and personalities. Its important to choose an agent that you think can best represent your property and your interests. Choose an agent that gives you honest market information, not just what you want to hear. Also look into an agencies image, marketing and branding, because that’s how your property will be seen.
Marketing and presentation of your property is so important, and can often be the difference between someone showing up to your open home or not. It is imperative to market your property to its fullest potential to gain us much interest as possible. After all, a bigger buyer pool often leads to more offers and a better sale price. Buyers need stimulating to make them interested, while marketing packages vary, you can expect a ROI.
Have you ever bought something that looks average? Property is an expensive product, and your buyers need to see value in what they are buying. Poorly presented properties don’t excite anyone, likewise they don’t attract premium sale prices. Styling can be as expensive or inexpensive as you like, just remember to keep it simple, in fashion and most importantly present your property as clean as a whistle!
Market conditions fluctuate yearly, monthly and seasonally. Expect to sell sooner if your property is presented well, marketing effectively and priced correctly. While there is a science and art to appraising a property, ultimately the market will dictate how fast your property sells and the price you will receive for it. You might sell it in a week, possibly a year, the important thing is to listen to your agent, assess your situation and do what necessary to sell.
There are many factors that will decide the marketability of your property, at Vendor we can assist in assessing the viability of the sale of your property and expected market price taking into account these vital areas:
Certain locations attract certain types of buyers, if your property is in a growth or popular area, then you are far more likely to attract the keen eye of many buyers. Talk to Vendor about how we can help assess your location and it’s current and future performance.
Closely linked to location is lifestyle. Will living in your property give buyers access to activities and services that are in demand? Whether it is sporting fields or schools, cafes or beaches, lifestyle benefits play an enormous part in determining the price people will pay for your property.
Believe it or not, property types and eras of properties can make a huge difference is attracting buyers. What you see as a run down property, could be a diamond in the rough!
The condition of your property and any ailments are often the first thing buyers will complain about during an inspection. Reason being, is that these flaws will come at a cost to anyone looking to buy your property. The decision to revamp and replace or factor the improvement costs into the pricing of your property is an important financial decision.
Your properties era of construction, its location to lifestyle amenities, its character, the grand tree that sits in the front yard, the more hero factors your property has the greater it counts when calculating its sale price. Vendor can discuss how these factors can affect the price you can expect and the buyer interest you will receive.
Storm water or sewer pipes running through your property? Powerline easements dividing some land? Perhaps there is a road widening clause on your block? How clean your property is of conditions or where the easements are positioned are vital factors that can raise or lower the value of your property.
Think size isn’t important? Think again. The more grand your property, the greater status it portrays, and the more dollars you will receive. In the land of property, bigger is always better.
Markets fluctuate yearly, monthly and seasonally. Ensuring you are priced correctly will see your property sell in a reasonable time frame. Over pricing will result in a stale or stagnant listing, and could result in missed buyer opportunity or negotiation.
“Price it right, sell it overnight. Price it wrong, hold it too long.”
