In any market the best chance for selling your property is within the first four weeks. Studies show that the longer a property stays on the market, the less the seller will net. Below are five main factors to accomplishing this goal.
It is very important to price your property at a competitive market value right when you list it. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell. It's interesting, but your first offer is usually your best offer. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time.
An overpriced home: Minimizes offers, Lowers inspections, Lowers agent response, Limits financing, Limits qualified buyers and Nets less for the seller.
80% of the marketing is done when deciding on the plan for pricing your home. If you are unwilling to list at the current market value, or adjust to meet the current market, you would be better off not putting it on the market at this time.
Access Factor Top selling agents have learnt time poor buyers make it difficult to show your home if both the key and access are not readily available. The greatest way to sell your home is to give constant access with a key to a clean well priced home! To avoid anyone feeling uncomfortable just leave soft music playing and take a short walk with your children and pets (Ideally leave 10 minutes before an inspection and return 10 minutes after the inspection is due to end)
Let the buyer be at ease and most importantly let the agents do their job.
Front Yard Factor Your front yard immediately reflects the inside condition of your house to the buyer. People enjoy their yards. Make certain that the trees are trimmed so the house can be seen from the street. Have the grass mowed, trimmed and edged. Walkways should be swept, clean away debris and remove any parked cars. This all adds to street appeal. If a buyer doesn't like the outside, they may not stop to see the inside.
Paint & Carpet Factor Paint is your best improvement investment for getting a greater return on your money. Paint makes the whole house smell clean and neat. If your house has chipped paint, exposed wood, or the paint looks faded, it is time to paint. If your carpet is worn, dirty, outdated, or an unusual colour, you may need to seriously consider replacing it or polishing the floor boards. Many houses do not sell because of this problem. Don't think that buyers have more money than you have to replace carpet. They don't. They simply buy elsewhere.
There is no Bad method of selling a home. You just need a Good Agent and a method your comfortable with. In Residential Property in the current Sydney market there are 2 popular methods.
Auction. There are 3 stages of marketing when selling via the Auction process. BEFORE - During the lead up to auction day marketing will attract interested buyers and the seller is well in there right to accept a good offer before auction. AUCTION DAY - All the buyers come together at the property and the Auctioneer openly has the buyers compete and bid for the property. If the buyers bids reach the reserve price or a price the owner is willing to accept on the day the deposit is paid with an unconditional sale. AFTER - The marketing and auction day shows the agent and owner the interested buyers and the property's current market value. Negotiations continue with these buyers until an acceptable offer is presented to the owner and they agree to sell.
Private Treaty. This "For Sale" method is most common in our local area. Buyers are attracted to the property and the sales agents negotiate privately to obtain the highest price possible. Time is not as restricted as what an auctioneer has and a trained agent can use many "Keys of Negotiation" to extract the best possible price from a buyer. Like any sales process it is important to have a marketing plan and stratergy to follow. Knowing "Time on Market" has a direct link to "Maximising Highest Price" a plan that lasts no longer than four weeks is essential.
Buyers for a property can be found all year round however it's not often that a purchaser for your home is out there, just waiting for you to put your home on the market. Timing, presentation and advertising are all required to bring buyers and sellers together for the best result.
Spring is often considered to be the best time to sell. It's a time of optimism and with the weather clearing, more potential buyers will be out and about. It is also a time when more sellers will put their homes on the market so there will be more competition.
Winter usually presents fewer buyers, but the buyers are usually more focussed on purchasing and traditionally there will be fewer homes on the market to choose from so buyers may need to pay a premium to secure the home they want.
Prior to placing your home on the market, allow an additional two weeks for you to prepare the property, solicitors to prepare the contract and the agent to prepare the marketing material. Talk to your agent about a plan to sell your property within a four week period. As we know the longer a home is on the market the less an owner may expect to sell their property for.