Selling Tips

The manner in which you get your property ready for sale can be the difference between getting a standard price and getting a fantastic price, in fact whether itsells at all. And, the best part is, it's not hard or expensive. The process of presenting your property for sale is an important one to consider. For most, the sale of a property comes around every 5-7 years. For others it is a more regular event, choosing to capitalise on the opportunity of upgrading the home and make substantial tax free gains in the process is very exciting.

Whatever your motive is for selling, the process can be stress free and lucrative or disappointing if not done correctly. The good news is that if you follow some simple rules and body can prosper. Buyers for good quality product can be found all year round. With the marketing process having become far more sophisticated than in previous times, the issue of timing is less critical today than in the past. However, there are some important points you may wish to consider, in presenting your property to achieve the desired outcome.

Spring and Summer months produce superior results, particularly October and February. In major centres avoid the Christmas holiday period between 20 December and 10 January. In tourist destinations however, this same period can be the best time for the sale of property, because of the increase in population and the relaxed atmosphere.

The time required to sell property that is accurately priced will typically vary between two and six weeks. Prior to placing your property on the market, allow an additional two weeks to prepare both the property and the marketing material.

Presentation of your property is a critical factor in achieving the highest possible price. This is similar to detailing a car before you sell it. The emotional appeal required to entice the buyers is unlikely to be generated by a poorly presented property. And a neglected building sends out 'warning signals' to any prospective buyer.

So it is important to do whatever is possible to have your property looking its absolute best on inspection day. Some of the turn offs for buyers include:

To improve the presentation, seek an outside opinion, as many of these problems can be fixed over a weekend for little expense.
For vacant properties, we recommend the use of decorator furniture for the period of the sale. The average cost to furnish a typical three bedroom house with hire furniture for six weeks is likely to be in the range of $4,000-$6,000 - in our experience an excellent investment when considering the sale price of your property.
When it comes to selling your property, there are three popular methods to choose from:

Each has its own advantages and it is advisable to speak to your agent about the benefits of each method.
Resiwealth successfully utilises all three methods, however we have found sale by Public Auction to be the most effective method for properties located in the top 30 suburbs.
Also, where a property is likely to attract more than one qualified buyer in the marketplace, auction allows competitive bidding to increase the final sale price. In the event that you choose to submit your property for sale by auction, research the success of each company's auctioneers, as a skilled auctioneer can add significantly to your end result.
Most auction marketing periods run for about four weeks.

Sale Preparation Checklist

 

Extracts from “151 Handy Hints to Add Value to your Home or Investment Property” by Philip Sigglekow

 

8. Street appeal
First impressions are lasting ones. Get feedback from family and friends of what they would do to make your house look it’s best. The more ideas you have, the more choices you can make.  Get as many opinions as possible, especially when it comes time to sell your home to ensure your house has a wide appeal.  Your local real estate agent can also give valuable feedback.

12. Trees, Shrubs, Gardens
Is your property overgrown and unsightly?  If your property is over 10 years old, consider removing overgrown shrubs which clutter the home and replace them with more appropriate plants.  If you have trees which have grown out of shape, check with your council what you are permitted to do.  You can employ an arborist or tree surgeon to trim and improve their look where necessary.

18. Make sure everything works
It’s the little things that annoy people, like leaking taps and shower heads, loose key locks, tight windows, squeaky doors, broken light switches, blown light bulbs, broken or untidy blinds on windows etc. We all get used to living with them however they will leave a bad impression to a prospective buyer, particularly if they are looking to buy an investment to be tenanted. Don’t give interested buyers any reasons to discount your target selling price.

32. Door and window locks
These can be self installed if you are a handy person or contact a local handyman for assistance. There are a large variety of locks on the market. Windows can be locked in an open position, approx (100mm) to allow for some ventilation to come in while keeping burglars out at the same time. You must have good locks fitted to all exterior screen doors for security when you are at home, allowing for ventilation.

41. Stencilling Concrete
Do you remember the first stencilling attempts many years ago? They looked great for the first three months but then peeled off. Today the quality has improved greatly and the choices and variety are fantastic. From plain to very detailed, you can even match the colour to blend in with the exterior of your home. The savings compared to tiling or paving is substantial and the effect is well worth the cost. Inspect at least four jobs before you choose a company to work on your property and make sure the products they use are of the highest quality. Well maintained driveways and paths instantly add value to a house far above what they cost, not to mention little future maintenance.

47. Skylights
Gone are the days of the humble boring skylight. Now we have beautiful lighting alternatives. Light tubes that can draw light down to a second storey room and skylights than can also act as ventilation windows for hot days and create a nice breeze through the home. Any spot in a home that is dark or feels closed in can benefit from a skylight.

61. BBQ area
Build a purpose built BBQ area away from the rear door of the house. Provide a covered area large enough to cover the whole area over the BBQ. You could also install a kit pergola structure around the BBQ and put a roof over it. Allow 2.5m clearance above the BBQ so as not to trap the smoke from the cooking. Good practical outside entertainment areas add great value to a home as outdoor living is more popular today than ever.

107. Remove the old Hills Hoist
A hills hoist installed in the wrong location can make a backyard look small. If you have a sunny exterior wall consider installing a wall mounted collapsible clothes line. Some new designs of clothes line provide the ability to remove them when they are not in use by lifting them out. Using either of these alternatives frees up valuable outside space that can then become usable play or entertaining areas.

121. Attend Auctions
Attend as many auctions as you can. The difference between amateurs and experts, is the work they put in up front. Get a feel of the market and study the types of people bidding. What about the people who missed out, what was their limit? Fill in an Auction Purchase Analysis record sheet, which will prove to be invaluable later on. Make plenty of notes in a special diary you use just for property and market research.

123. Agents
Keep in touch with all local agents and get to know them well. A good agent is an asset to you. Tell the agent what research you have been doing and if you build good rapport with them they will provide you with other valuable information about the suburb and recent sales. The amount of information you get will prove invaluable in years to come.