Preparing to sell your home can be a stressful, daunting and emotional experience, filled with plenty of unknowns. When it comes time to sell, it’s hard to know where to start and how to prepare. However, following a few simple steps will help to reduce the stress and help you enjoy the process of selling your property.
Firstly, know the market. Start by looking at all the major real estate websites and checking the ‘for sale’ page. Here you can filter the search to show all properties in your area which have similar features to your own property. This will give you an idea of how many other properties are on the market (that you could be competing with) and what the average asking price is.
It’s also worth looking at the ‘sold’ page. Again, input the features and suburb as above and this will show all the properties that have been sold with features similar to your own property and what price they sold for. This is an extremely important step, because while market prices can shift, it will give you a decent idea about what price you could expect to receive for your property when it comes time to sell.
Having an idea of the value of your property can help reduce any uncertainty when talking to sales agents.
Another really important component of preparing to sell your house is conducting suburb research. While you may be familiar with your neighbours and could locate your nearest park, you probably aren’t aware of several key statistics that will be useful when it comes time to sell. Things like the number of owner occupiers/renters in the area, along with population and the total of active listings are all valuable. These bits of information can give you an indication of how the market is currently performing and whether it’s a good time to sell.
This information is simple to find — if you know where to look! Free property reports are available online which provide accurate data on current listings within the suburb, the median house price and statistics on how previous months have performed, comparing the number of sold properties and the price they sold for. All this information will help you make an educated decision about the value of your property.
Not all agents will be familiar with your suburb, so it’s important to find the right agent who can get you the best end result. This way, they’ll be best-placed to talk to potential buyers about its wonderful selling points.
Don’t be afraid to ask questions about how they think the market is performing or what they think your property is actually worth. You’ve done your research, so you should be able to spot a dodgy agent who is trying to pull the wool over your eyes, so to speak.
It’s a good idea to approach a number of agents to evaluate your home. This gives you multiple options and more chances of finding the right agent for your situation. Listen to what they are offering you (commission, marketing and support). Don’t always go for the lowest commission, instead go for someone that you have a connection with and someone that won’t skimp on the marketing. Lots of potential buyers search for property online, so positioning on a real estate website is of the utmost importance. You want your property to be on page one, not page five.
When it comes to property sales, appearance is everything. Beautifully-styled properties attract more attention, so consider investing in a professional styling service before listing your home. Most real estate agencies will include this for a small fee, but is worth the investment. You want your home to draw in buyers, so it really needs to make a statement, whether on the page, on a website or at an open-home.
In the case of open-homes or inspections, make sure that everything is clean and tidy and that any clutter has been put away. This will help potential buyers imagine how it would feel to live in the property.
While you may love your home and all the memories that it holds, a buyer will simply see the property for what it is: four bedrooms, two bathrooms, a two-car garage, a study, and maybe a pool.
They look at the features and value for money. It’s important to try and remove emotion from the equation and look at it with the same eyes as a buyer. What does it have to offer and how does it compare with the rest of the market? This is what will get it over the line.
That is why the steps above are so crucial and important within the sales journey as they will help reduce the emotional response and instead help you make a more informed one.