Tips for Sellers - Peter May and Brad Robson
If you’ve never bought a home, you may not know that a building and pest inspection is pivotal to ensure you know exactly what you’re getting.
The main question is “Is it necessary” and the simple answer to that is “no”, but if we look beyond that and ask what are the benefits, well there’s plenty and getting a higher price for your home is just one, so let’s explore.
Arguably the biggest benefit is the ability to paint a picture for potential buyers. Staging is a great way to allow a buyer to see themselves living in the home.
At some stage in our lives, every home owner will likely look to upgrade, downsize or move location…raising the question of whether it is better to buy before you sell, or sell before you buy. This decision will be impacted by many personal factors as well as what is currently happening within the real estate market. But just to throw some more information into the mix, here are some insider views on the pros and cons for both sides of the debate.
With temperatures already hitting the high 20’s, it is clear that spring has well and truly made its conquest on winter. We can now emerge from the cold bleak months and look forward to the beautiful warm weather to come. Traditionally spring brings a fresh influx of Buyers and Sellers to the market and with interest rates still holding steady at an all-time low, we are expecting this spring season to really reap some outstanding results!
Apart from the more pleasant change of climate, both Buyers and Sellers can complete a property transaction knowing that settlement will be finalised before the Christmas/New Year period.
If you’re hoping to sell your home quickly and for as much money as possible, try to avoid bare rooms in your house.
We have just sold a home in Chelmer that was completely empty. Although we have always promoted the benefit of furnishing a home, we respect that sometimes this can’t happen. This sale has highlighted the main reasons why furniture is a good idea, so here they are - The 4 reasons why it’s harder to sell a bare house.
1. People don’t buy houses, they buy homes.
When you sell a house, you aren’t selling a commodity, you are selling a home. A place where a family will raise their children, invite friends over for dinner parties, have loads of good memories. Even if you’re selling a unit, you’re selling it to someone who will bring their hopes and dreams into this new space.
Walking through empty rooms, or an empty house, is usually pretty depressing. It makes it very hard for us as agents to build an emotional connection between the buyer and the home.
Presentation is such an important element to get right if you are going to sell your home. It could mean the difference between achieving a premium price, an OK price or selling yourself short.
In this week’s blog, I’ve given you a few things to consider if you are looking to sell your home.
The first point is that buyers want to buy a house, not your ‘to do list’. In most cases, when they see broken or unloved items around your house they overestimate both the time it will take to mend this themselves and the cost of the repairs. When you leave any part of the work undone you leave the price open for discussion and negotiation resulting in lost equity. You wouldn’t want to buy a house that required repairs (unless you were looking for a bargain) so bear this in mind when preparing your own house to sell.
A good place to start is to call your local building and pest inspector. Having a building and pest inspection done on the home will ensure you are fully informed on the current state of the home and reduce the chance of any surprises down the track. It also gives you an opportunity to fix any little issues before a buyer finds out about them.
Most of us live in houses that need a bit of TLC and we’re probably not even aware of all the repairs required. Now is the time to be objective, ask friends to help. Go around the home, both inside and out with a notebook and pen. Write down everything that needs attention. Be specific. Also write down exactly how you are going to solve the problem eg: re-caulk around sink with white caulk.
Once you have your list, gather together everything you need and make 1 trip to the hardware store to buy additional items. (not 2 or 3 trips like my Dad, he seems to love his trips to Bunnings) Set aside time to make all the repairs, ticking them off as you go.
If you don’t have the time, inclination or skills, call a handyman and give them the complete job list. It’s easier and more efficient if they are given all the jobs in one go.
Checklist of potential repairs:
Bathrooms: replace broken toilet seats or toilets, shower screens or curtains and cabinets including handles, replace taps if required. Re-caulk and re-grout the tiles
Walls and trim: Touch up flaking paint, paint untreated or primed wood. Repair cracks or picture hanging holes
Countertops, cabinets and cupboards: Replace damaged counter tops, repair cabinets, replace handles if required (gives a more modern look for a small cost)
Floors: Replace or repair any flooring that is loose, broken or has a piece missing.
Light fixtures: Replace if old fashioned, make sure every light bulb works and is a high voltage, replace electric sockets if broken.
Windows and window panes: Make sure they operate properly. Repair or replace as required.
Doorbells, doors and door hardware: Oil anything that squeaks. Repaint doors, especially front door if required. Make sure your doorbell works. Replace any tired hardware for the all important first impression. Replace any torn or ripped flyscreens.
Appliances: If you are selling an appliance with the house make sure that it works. Repair or replace if not
Stairs: If any stair treads are worn, damaged or creaking, get them repaired
Driveway and garage: Clean up any oil spills and give a good wash
External: A complete house wash, fix any broken gutters and missing downpipes.
All of this will help remove any barriers that buyers put up with relation to your home and of course will help to sell your home for the most amount of money in the least amount of time.
If you would like some personalised advice, please drop me a line. I'm here to help you achieve the best possible result with the sale of your home.
So as a real estate agent, you’d think I may know a thing or two about real estate and you’d be right. Here’s the thing, when your job is dealing with people that are moving (either into their new home, or out of their old one) you pick up a few hints on the best way to move. So here it is, the complete A – Z list of getting ready to move house.
Moving doesn't have to be a massive ordeal. This checklist, done in a timeline fashion, should help you plan the move from two months out.
It starts by establishing the date you need to move, from there you work backwards.
Below is my eight week check list. I hope you find it helpful for your big day and if there is anything you think I've missed, please leave a comment below.
This week I wanted to share an article from Michael Matusik. Michael is a respected property analyst and he recently wrote this article on spending money marketing your home.
I personally believe that the more people that know your home is for sale, the more people you will get through the front door, therefore the more people you will find that like you home. In turn, this gives the agent more people to deal with and helps them to get the highest possible price.
The great thing is that Michael agrees with me. I hope you find the below article helpful.
We often get invited into homes that have been on the market for a while with a different agent. The Seller
is lost and doesn’t understand why their home hasn’t sold. So in light of this, I’ve put together a list of a few
things to think about if your home simply isn’t selling.
However, if you are in that unfortunate position where your home has been on the market for a while, here are a few tips that will help you move past ‘stale’ to sold.
Step 1. Ask your agent directly.
“What is preventing my home from selling today?” As strange as it sounds, a lot of people avoid such direct conversation as they are afraid of the answer. Don’t avoid it, it’s important to know the answer to this simple question.
Step 2. Review & renew.
Treat it as a new launch, start over. Consider new photos, new ad copy etc whatever you can do to re-energise the property.
Step 3. Increase your internet presence.
The internet is a key media channel for Buyers. But when was the last time you looked past page 2 of a Google search? Make sure your property is featured as prominently as possible on the key property websites. Here is an interesting stat from realestate.com.au. Only 51% of buyers look past the first page in a set of search results so if you’re on page 2 you’ve lost half your buyers!
Step 4. Promotion.
yes, a lot of Sellers seem to hate this word but you can’t sell a secret. The reason why we recommend it is because it works. The more Buyers that know you’re for sale, the more Buyers you will have through your front door. Despite popular belief, print media does an exceptional job of attracting new Buyers to your property.
Step 5. Look at the price.
A lot of the time when we are called into advise on homes that are struggling to sell, one of the key issues is it’s pricing strategy. “Price on Application”, “for sale by negotiation”, “expressions of interest” or simply over pricing your home doesn’t work in this market.
Step 6. Get a fresh set of eyes & an objective view.
Sometimes you need someone that you haven't built a close relationship with to give you a new perspective. This may mean a property stylist, a new agent inside the company who is representing you, or even an agent from another company. The point is sometimes the answer can be right in front of us, but if we are to close to the project, we need someone else to give us a new perspective.
Step 7. Consider Feung Choi expert.
This one may sound a little ‘out there’ and it may simply be a placebo effect however every time we’ve recommended it in the past, it simply seems to work and that is to consider a Feng Shui expert. If you’re not sold on a Feng Shui expert, call in a property stylist who may also have a view on the flow of energy. It may have nothing to do with energy and more to do with arranging furniture within a room so that flows better, but either way, what’s the harm in giving it a go?