Quality Presentation Implies Quality Property
If you’re thinking of selling this spring ensuring you are a across what is happening in the local market is vital. Understanding a realistic price estimate, appropriate marketing investment and what buyers will pay more for will help you make smarter decisions preparing when your home for sale.
To help you here, outlined below are some easy ways you can research the market before selling your house or apartment.
What are buyers are looking for
Knowing your likely buyer profile and what they are looking for can help you better position your property to appeal to them. A skilled agent can make some recommendations around economical changes you could make to your property to enhance its appeal, this can range from painting, upgrading carpets, light fittings, landscaping or property styling.
For example, we recently sold a home in a popular school catchment that we knew would attract families looking for a 4-bedroom property. The Seller borrowed some space from an oversized rumpus room to create a fourth bedroom. This resulted in a huge value uplift, broadening the market significantly and creating hot competition. Of course, you need to be careful not to over capitalise and we can guide you on what will get you the most bang for your buck.
Economic Marketing Investment
Marketing your home should be seen as an investment. The aim is to generate as much buyer interest in your home as possible to allow competition to push the price. The basics include professional photography, video and copywriting, a signboard and internet advertising, you can add other layers on top. Quality marketing implies a quality property. We all know how prevalent social media is in people’s lives, and a digital campaign can be targeted to a narrow audience that matches your likely buyer profile. I believe social has replaced print media, it attracts a passive aspirational buyer and at a fraction of the cost.
It might sound old school, but it is still hard to beat a signboard and DL flyer drop. Over the years, in my experience between 50% – 70% of buyers come from the area – either the same suburb or within 5km to 10km. Locals will be walking or driving past your home every day and they’re a crucial audience for your marketing campaign. They tell family and friends, work colleagues – word of mouth is powerful.
What is the best method of sale
Different suburbs, streets and properties suit different sale methods, so nailing the strategy is critical.
There are 3 key methods of selling a property:
- Auction
- Private Treaty / Private Sale
- Expression of Interest
We can guide you though the benefits of each strategy and what will work best for your property and situation.
What is the potential value
Of course, a key question for all potential sellers is – what is my home worth in the current market? A skilled and experienced agent will provide an appraisal or property estimate. Our job is to extract the best possible price from the market place, and pricing a home is not an ‘exact science’.
An agent will assess the homes key selling features including:
- The location of the home, land size and aspect
- Number of bedrooms, number of bathrooms and car accommodation
- Condition of the property and the quality of any renovations
Agents will look at sales that have occurred locally to provide you some evidence of value, but it’s important to remember that market sentiment and conditions (either positive or negative) can shift quickly. Getting your price expectations correct from the start almost always results in a superior outcome, so you need to trust the professional and do your own homework thoroughly. Real estate portals such as Domain.com.au and realestate.com.au are great free resources for information into local real estate markets, median property prices of your suburb, supply and demand for the area, along with a summary of current listings and recently sold properties.
