Tip 1 –  Do your research

  • It is worthwhile to educate yourself on what property transactions have occurred in your immediate area. Identify past property sales and properties currently for sale.
  • Try to compare those properties that are similar to yours.
  • Base your comparison on number of bedrooms, bathrooms and land size.
  • Try to refer to sales around ½ kilometre radius from your property.
  • Companies like Core Logic – RP Data and Australian Property Monitors offer these types of reports for the public.

Tip 2 – Use a Professional Real Estate Agent

  • Don’t be tempted into trying to sell your property privately.
  • Paying an agent a commission to market your property is worth the money.
  • Most Real Estate Agents will have an existing database of buyers, including property investors, who they can target your property to the instant it is on the market.
  • Using an agent will, in most instances, help you achieve a higher selling price.
  • Most successful agents are excellent at negotiating with buyers to get you more money for your property.
  • Agents also have access to industry specific advertising avenues that the general public cannot access.
  • Real Estate Agents can also provide guidance on conveyancing, financing and local government planning – areas in which private sellers may not be familiar.

Tip 3 – Be realistic in setting your asking price

  • Have realistic expectations in regards to what price you will sell your property for.
  • Compare your property to those you will be competing with on the market.
  • Go and visit them, then price your property above or below those that you “honestly” feel are better or worse than yours. Try to be impartial in this process.
  • Setting too high an asking price can result in buyers ignoring your property all together.
  • Overpriced properties that stay on the market over 90 days get a bad reputation with buyers and will continue to struggle to gain interest and offers.

Tip 4 – Ensure your property has “Curb Appeal”

  • Many buyers will explore the area they want to buy in and do “drive by” inspections.
  • Remember first impressions are lasting. The front of the property will normally be the first thing buyers see.
  • Properties can immediately be rejected by buyers if it is untidy and not maintained.
  • Ensure the front of the property is tidy, clutter free and the yard is well manicured.
  • Your “curb appeal” should also extend throughout the whole property, inside and out.
  • Remove as much clutter as possible and promote a feeling of openness and space.
  • Try and store away personal effects like photos, knick-knacks, children’s toys and pet accessories.

Tip 5 – Do Not Stay at Your Open & Private Inspections

  • Not only should owners be absent for any inspections but pets should be as well. Not all buyers enjoy pets, so this could be a good time to take your pet for a walk.
  • Teenage children / young adults who stay in their room whilst inspections are on do not allow buyers the opportunity to inspect the property properly.
  • By not being present at the inspections, you give prospective buyers the opportunity to speak freely and honestly about the property.
  • Your agent will report back to you any interested parties and their feedback.
  • Staying at the property could indicate that you do not trust your agent and may make prospective buyers uncomfortable.

If you are interested in knowing what your property may be worth in todays market , please call me on 0412 042 421.

Regards,

Drew Oliver

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