Top Tips for Selling your Property
1. Understand Your Buyers
Knowing who your target market is when approaching the sales process is critical to any future marketing efforts made. A scatter gun approach is never appealing as ideally you want to attract quality, not quantity. Ultimately different kinds of properties will appeal to and suit the lifestyle of, different kinds of buyers so knowing who will want what you’re selling is key to any follow up marketing done by your agent. By understanding who will be attracted to your property you can:
- Prepare your marketing accordingly
- Better understand how to style your home to attract the right buyer
- Decide which agent has access to these kinds of buyers.
When choosing your agent, it would be wise to incorporate into the initial interview questions about who they’ve worked with in the past and the demographic which makes up their buyers database. Also have a chat to your friends about who they think would be interested in your property based on its key features.
2. Choosing the Right Agent
Choosing the right agent for your home is one of the most important steps towards a successful sale. The agent will be doing all the heavy lifting to get your property sold which means that it’s crucial to understand what you’re looking for and to do your research before selecting the right candidate. A good agent is willing to listen to your desired outcome, is professional in all dealings, has a robust understanding of the local market, can provide relevant and recent testimonials and is committed to frank, honest dialogue through every step of the process. Essentially you will be entering into a business relationship so don’t feel pressure to go with the first agent you see. Interview more than one and prepare a list of questions to ask each agent so you can make an informed decision about what’s right for you.
3. Style to Sell
Styling your home to look its best will boost final sales prices by up to 12.5 per cent, according to a survey of the top real estate agents in Australia. Painting, decluttering,building more storage and styling are all worthy investments of time and money which can result in a significantly improved result. Furniture can also be rented and home stylists engaged to present your property in the best possible light for open houses and auctions.
4. Determine Your Price
Do your research. Enlist an independent property valuer to provide a valuation based on their knowledge of the local market. Speak to local real estate agents who have sold properties similar to yours in your area in the last 6 months. Jump online to explore other homes for sale and their listing prices based on key features that are similar to your own home. Don’t take one person’s word for it. Understanding the market and finding the sweet spot is part of your responsibility as a homeowner and will result in you pricing it to attract the right level of buyer.
5. Be Prepared to Negotiate
The first offer, or even the first three offers, may not be your asking price so be prepared to negotiate. Your agent will be front and centre doing the actual negotiations but it’s important you remain involved so your wishes can be understood and actioned. Be clear at the outset on your bottom line and ensure your agent understands this. Be prepared to drop around 5% from your ideal price but also keep in mind the demand in the area, and the buyer interest to date. If you’re not in a rush, and aren’t receiving offers around the price you want, don’t be afraid to sit on it and work with your agent over a longer period to get your desired outcome.
It’s important to work with your agent at each step of the process. They are the experts in their field and it’s in their best interest to help you achieve your best outcome. The team at Stockdale & Leggo can certainly assist you with selling your property so make an appointment to see your local agent today.