As good as the market is right now, the sheer volume of buyers makes it critical to make sure your home is being sold with a strong process in place. Every buyer must be given the opportunity to move forward so you are sure you are getting top dollar. I am seeing thousands of dollars being left behind because the sale is not being handled properly.
1) Know why you’re selling and keep it between you and your agent. The reasons behind your decision to sell affects everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What’s more important to you: the money you walk away with, the length of time your home is on the market or both? Different goals will dictate different strategies. When buyers know your motivation to sell, it can adversely affect you at the negotiating table. Instruct your agent to say “your housing needs have changed”
2) Do your homework before setting a price. You must put emotion aside and study the market. Look at properties that have sold in your area and for what price and realistically compare yours. In the current market records are being broken regularly, however, even though demand is high, the quality and presentation of the property is still a vital component of the price achieved.
3) Work with your agent. Nearly three-quarters of homeowners claim that they wouldn’t use the same agent who sold their last home. Dissatisfaction boils down to poor communication which results and not enough feedback, lower pricing and strained relations.
It is vitally important you have a good relationship with your agent. Choose an agent that you trust and work with them. Selling a house is a partnership, you both provide vital information to get top dollar.
4) Maximize your home’s sales potential. Each year corporate Australia spends billions on product and packaging design. Appearance is critical, and it would be foolish to ignore this when selling your home. You may not be able to change your homes location or floorplan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor. Before viewings, clean like you have never cleaned before. Pick up, straighten, unclutter, scrub and dust. Fix everything, no matter how insignificant it may appear. Present your home to get a ‘WOW’ response from prospective buyers.
Allow the buyers to imagine themselves living in your home. The decision to buy a home is based on emotion, not logic.
5) Get a Building and Pest Report. By getting a Building and Pest Report before you put your home on the market, you are giving the buyer confidence. The buyer will see you as organized and caring for your property and are more likely to offer you top dollar.
6) Know your buyer It is important that you know your buyer. What is the buyer’s motivation, does the buyer need to move quickly, does the buyer have the money to pay the expected price, does the buyer have pre-approval, does the buyer need to sell first. All these things help you understand if they are the right buyer for your home and give you an upper hand at the negotiating table.
7) Dress the property for sale. Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten and is simply not appealing. It could cost you thousands. Dress it yourself or employ a professional, you will absolutely get the returns when the property sells.
8) Celebrate the Commission. The standard commission of 2.5% + GST is recommended by the property industry based on fair and equitable criteria. The average Real Estate Agent earns $81,218.00 per year in Queensland. The commission is divided throughout the industry which helps to maintain the current prices. If your plan is to get top dollar, you want a motivated agent. Saving a few thousand in agents commissions can cost you tens of thousands by starting the relationship in a negative way. You never know how much you leave behind.
