Even in this economy, there are a lot of Australians looking to buy a property. However, there are a lot of homes that are up for a sale already and the real estate industry is quite competitive. With so many homes out there in the market, your potential buyer will have all the leverage. After all, chances are that someone else is selling a home in the same neighborhood. Still, with a couple of tips on your side, you can turn this situation more in your favor and ensure that your home is sold quickly and at a decent price. Here are several dos and don’ts on this subject matter.
Do: Take some great photos
Every story of a property sale starts with a buyer’s visit to a website. This is why a decent property profile may change a lot of things. For starters, you need some great photos to help with the immersion. Chances are that the description alone won’t be enough to make people want to come to see your property. Professional property photography can be a huge boon in this regard. So, start by looking up some tips online. If you really want to gain an edge, you could always hire a professional photographer. Also, make sure to put a suitable caption below.
Don’t: Look desperate to sell
Regardless of what you’re trying to sell, a buyer can sense when you’re desperate. Selling a property is not an exception to this rule. People prefer to barter when buying property, especially because this tactic has no real downside. They can always return to the original price and you’re not going to turn them down because one of their offers was preposterous; there’s too much at stake. So, if you look desperate to sell, this will make the buyer run the price into the ground. Always negotiate from a position of strength.
Do: Research which home improvement methods give a great ROI
There are some upgrades that raise the value of your home with minimal investment. For instance, any upgrade that adds physical square footage to the place is a fail-proof upgrade. Finishing your basement, updating your backyard, tearing down walls to make an open-space plan are just some such methods. In some scenarios even making the home feel more spacious can do the trick. Then again, there’s the other category…
Don’t: Overspend on quality-of-life upgrades
Some household improvements can make the place much more livable but they don’t necessarily help you sell the place at the right price. For instance, a major bathroom remodeling will help you sell the place quickly and definitely boost its appeal. However, are you going to get your money back? Of course not! Therefore, this improvement is best left for your permanent residence and not the place that you’re trying to sell.
Do: Work with professionals
Hiring professionals is always a good idea. A professional real estate agent can help you set up the place for the visit, arrange your page on the real estate website and do much, much more. Selling the place also requires quite a bit of work, which is why you should work with local professionals. Why local? According to experts behind conveyancing Tamworth agency, because you need someone familiar with the state and regional real estate requirements and property regulations. This way you get to additionally speed up the process.
Don’t: Overprice a home
The truth is that your buyer will want to haggle, which is why you will feel like you should raise the value of the property a bit. However, don’t walk into the trap of raising the price too high. This way people won’t even give you a chance. Some people just call out of curiosity but if the price is too high, even they will avoid you. Try to make an accurate price estimate and raise the price only slightly so that you give yourself some maneuvering space during the bartering stage.
Do: Repair the place
Spending money to fix the place that you’re moving out of might seem counterintuitive. The problem is that if the place is in a ruinous state, no one will want to buy it. While this does require you to invest, it is not an optional thing. Even some minor (surface) problems, can become a serious issue if ignored. Potential buyers will see them and assume that the rest of the place is in an equally ruinous state. Why? Well, because they will assume that the iceberg principle applies. For every problem they are able to see, they’ll assume there are several underlying problems they just haven’t noticed yet.
Don’t: Try to sweep problems under the rug
Chances are that the buyer will be quite thorough before they commit to buying the place. They might also bring professionals to help them inspect the home. This means that, even with your best efforts, you won’t be able to hide this. Here you might have a significant problem. You see, trying to sweep some of these problems under the rug will create a scenario where you’re caught red-handed. This will destroy any hope of establishing trust with a potential buyer. It is far more honest to just be straightforward with these problems.
By following these four dos and don’ts, you’ll be able to sell the place at a much better price and in a shorter time-span. Even the time you spend trying to sell the place counts since time is money. The opportune loss is a real loss and once you start looking at the time it takes you to close the sale, you will understand why. Also, your actions during this process can determine the price you manage to get. This too is a huge item that just can’t be stressed out enough.