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Thinking of selling your Property? Here’s what you need to consider before putting your house on the market.
Whether you have decided to sell for the first time or are thinking about selling down the track, chances are you may find the entire process a little bit overwhelming. A little bit of careful planning will assure a successful and stress free campaign. Amkar Real Estate have put together some great tips to help you get prepared for putting your house on the market.
Do your own Research
Before you decide to sell make sure that you have done your research. Check out local websites and newspapers so that you can have an idea of what is happening in the market.
It is important to also attend open houses to have a closer look at what is selling in your area. The reason it is important to have a look in person is because sometimes properties can be quite deceiving in photos and what may seem like a comparable property to you on paper, may not be in reality.
What to look out for
When doing your research try and find a few properties that are the most comparable to yours. The things you want to look for are similar sized blocks, similar architectural styles, same number of bedrooms/bathrooms and how close the comparable properties are to the most desirable amenities in your area.
Too often vendors compare their properties to other houses in the area that are not really comparable. If you have a 3 bedroom home don’t compare it to the 4 bedroom house down the road or if your house has a bathroom and en-suite don’t compare it to the house that sold next door with only one shared bathroom.
An extra bedroom or bathroom, an easement, a swimming pool, new kitchens/bathrooms or unique views are only some aspects that could determine a price difference between your property and others in your area.
A good agent should be able to help you calculate how different features could significantly add or decrease value to your property when doing a comparable analysis.
One of the main factors in getting your home sold quickly is to make sure you have a realistic outlook as to what your sale price could be. Too many vendors will often choose an agent based on who can sit down at a listing presentation and promise to sell the house for the most amount of money. As a result vendors will often pick the agents that will say anything to get the listing and then do anything to get it sold, even if that means 3 months into the campaign trying to get you to sell it for significantly less than what was initially promised.
When choosing an agent, you should choose the agent that is the most honest with you in regards to pricing, as the right price will not only attract more buyers to the property but can actually result in a higher final result as your agent will be able to get more people into the property.
If the price is unrealistic then you could be turning away many potential purchasers therefore having a very minimal number of parties to negotiate with.
If It’s broke…Fix It!
Have any major repairs that need attention? It is always advisable that you fix what you can before the house is listed on the market because potential buyers will be going through the property with a fine comb trying to pick out what repairs they will have to commit to in making the home live in ready. For example if the carpet in your living area is damaged or the glass on your shower screen is cracked, prospective purchasers will calculate the costs of repairs and try to deduct these from the asking price.
Unless the property is being sold as a developmental opportunity it is advisable you take your agents advice on any repairs that may be required prior to selling your house. This doesn’t always have to be a costly process sometimes a lick of paint and new kitchen doorknobs can make an impressive difference.
Don’t Try & Save on Marketing
In Real Estate, like in all things you get what you pay for. A good agent will present you with a marketing campaign that they feel could help you to get as close to your asking price as possible.
Often we hear of vendors who choose agents with low budget & generic marketing campaigns. If the marketing campaign doesn’t allow your property to stand out from other listings on the market, then it will be hard getting the attention of potential buyers.
Amkar Real Estate has a strong policy on making sure every marketing campaign for each and every property is tailored to allow the property to stand out from the crowd.
Recently Amkar Real Estate was given the opportunity to take over the sale of a property that had been on the market with another high profile agent for 5 months. The Amkar team had to come up with a new & unique campaign in order to attract buyers back. From being on the market for months with no offers, the team at Amkar were able to sell the property for $20,000 dollars over the previous agents expected selling price in under 4 weeks.
Remember the job of your real estate agent is to create an atmosphere to attract buyers and putting your money into high quality marketing means you will get it back in the sale price of your home.
If you are thinking of selling down the track and you would like some advice or want to know what your property is worth give the team from Amkar a call or email us at email@example.com for an obligation & cost free appraisal.