How to Sell Your Property for the Right Price, Quickly.
When it comes to selling property, there's a lot more to consider than simply naming a price and placing a listing on a real estate website. Here are five steps all sellers should consider to sell their property for the right price, quickly.
1. Understand the local market
Research the history of neighbouring properties to understand local demand. Look at what has been sold and when it was sold, attend open houses and auctions, and compare the state of play to establish the true market value of your property.
2. Consider minor renovations, repairs or staging
Most buyers need to see themselves living in a house, so how you present your property could mean a difference of tens of thousands of dollars on the sale price. Here are some top things to consider:
- Improve the street appeal – fix fences, clean the exterior and tidy the garden/lawn.
- Declutter and depersonalise – personal objects can get in the way of a buyer’s vision.
- Clean kitchens and bathrooms – these areas tend to sell properties.
- Eradicate odours – smoke, pets or decaying smells will have buyers turning their nose up at your property.
- Engage a staging professional - use furniture and decor to show the property to its best potential.
3. Set the right price
After you have done your own local market research, have an agent appraise your property. If their appraisal matches yours, it’s a good indication of market value. While it might be a seller’s market, do not overprice. Pricing appropriately is so important. Buyers who view an overpriced property will often disregard it even if you drop the price later. Property will generate offers if priced at actual market value. And once the offers roll in, so does buyer emotion, which could end up driving the price up.
4. Choose the right time
Choosing the right time to sell comes down to several factors, mostly concerning your circumstances and the local market. High supply of similar properties in your area will make it more difficult for you to sell at the right price. If your circumstances allow for it, it might be in your best interests to stay put until the market improves. The timing of your sale will also affect the type of sale – i.e. auction, private listing or off-market – which will in turn have an impact on the offers you will receive.
5. Connect with a buyer’s agent
A buyer’s agent can provide vendor advocacy services and will do much more than help you prepare your property for sale. They will help you project manage the whole process, including liaising with the selling agent. With the right connections and services at their disposal, they will guide you on the right type of sale, determine marketing spend, coordinate legalities (including the contract of sale), take care of negotiations, and even get you into your next property.
The Maker Difference.
Selling property can be a stressful process. There’s a lot on the line that could affect your financial security. Maker Advisory offers extensive vendor advocacy services to project manage the sale of your property, from strategic planning and marketing through to settlement.
Interested in learning more about how our Maker Advisory can help you sell your property for the right price, quickly? View our Vendor Advocacy services.
Whether you are looking for support in hotspots like Sydney, Melbourne, Brisbane, Adelaide, Perth, the Gold Coast, the Sunshine Coast, or in any other city or regional centre in Australia, we have the network to help you realise your property goals sooner. Contact us.
Interested in finding out more? Send us a message and we will be in touch.