How to sell my home
- Selling is not about emotions- therefore don’t get a friend or family member to sell your home.
Dealing with friends is always comforting but when selling your home choose a real estate agent with whom you have a professional acquaintance only. Selling is about getting you the best price, not emotions. Look around your area and pay attention to the “For Sale’ signs, keep a record of who sells the most homes in your area.
Keep in mind buyers considerer many factors when evaluating a property such a school zonings, proximity to entertainment and shops, access to transport corridors etc. You want someone who can not only sell your home but can also sell your neighbourhood and the lifestyle that goes with it.
- A brochure is not a marketing campaign
If your real estate agent does not have a marketing plan, look for a new agent. A marketing plan is a step-by-step process detailing the various activities your agent will do to sell your home. The marketing plan should inform you what his team is doing each week during the selling process. This includes the lead up to listing your property and each week whist it’s on the market. When choosing an agent don’t focus on the price they believe they can get for your home. Instead ask what they can ‘bringing to the table’. Interview your agent as though it is a job interview:
o How many homes have you sold in the last month
o What are your areas a specialty
o What type of homes do you sell
o What is the average asking price for the last 5 homes you have sold
o What team support do you have behind you and what role do they play
- Price realistically
Price it high watch it die, price it low what it grow. Your home will have its greatest exposure in the first month. If you want to sell your home fast set the price within 5-7% of the fair market value. Doing this will capitalise on the momentum you get when first listing your property. Keeping the price within reach you gain more interest and create competition which drives up the price.
- Performance Sweetener
Consider offering your agent a performance sweetener or bonus on his commission if they make a certain price. Remember a good agent probably has multiple property listings at once, therefore to keep your home top of mind is crucial. Consider offering a sliding commission scale or simply a one off bonus based on sale price. If you are considering this make sure it is detailed in the sales agency agreement.
- Style your home
A fresh new approach to your home can make a real difference. Consider a professional company or interior designer. Often they can help with hiring of furniture, paintings etc. Don’t forget the outside, a few well place pot plants can lift the ‘face’ of a house or set the desired scene for your home. An interior designer can use your existing furniture in clever ways and they are not emotionally attached to a special piece. Don’t be offended if they want you to take items out and put them in storage. It’s about making your home as attractive as possible.
Buyers can be turned off by the wrong furniture and furnishings, even personal effects such as photos and holiday snaps can cloud their opinion of your home. Let a professional guide you. This should be done prior to your marketing photos and the first open inspection.
- When is a study not a study
Having more bedrooms on your listing will attract more potential buyers. If someone has 3 children they will probably only look at homes with a minimum of 4 bedrooms, however a family of 2 children are also happy to have a spare room. Turn your study into a bedroom and if you have single beds replace these with queen size. If they fit this will increase the perceived size and value of your home, sometimes by many tens of thousands of dollars
- Invest in your home
Spend some time and or money fixing those minor problems. We all know a fresh coat of paint can do wonders, however have you considered the front garden, fence and hallway? It’s the first impression that will help sell your home. Remember even when your home is not open for inspection people are still driving past and looking.
We are all becoming time poor so a finished home is what we want. Have you looked at your kitchen, a new set of cupboard doors, even a new benchtop can lift the feel of your home, particularly if it’s in the main living area. Don’t forget the bathroom, be vigilant what improvements you can make? If the kitchen or bathroom looks old and tired this may devalue your home. Often the first thought that runs through a buyer’s mind is, this will be a big ticket item to fix, therefore they will reduce the price they are prepared to pay.
You’ll be surprised what new carpet can do to modernise and refresh a room or your whole home, especially if the old carpet is looking tired or worn. It’s not as expensive as you may think and the return on investment can be well worth the outlay.
Some simple and often inexpensive changes can make all the difference.