The current market is buoyant, people are willing to spend money on homes and demand is high.
If you have been thinking that you will take advantage of the current market and sell your home now, make sure you read the following ‘tips’ from Mike Pero.
Selling your home is not just about listing it on Trade Me and taking people through open homes!
If you want to get the best possible price for your property and you would like to sell it quickly, there are some key decisions, like whether you use an agent or not, and things you can do and should consider, when preparing your home for sale and marketing your home.
Firstly, you must decide whether to use a real estate agent or not.
Selling property can be a complicated process, so you need to know what you are doing and understand the risks.
The purpose of employing a real estate agent is to make sure that your property is sold in the best way possible and to increase your opportunity of selling at a higher price.
Using a Real Estate agent has advantages, agents know the neighbourhood, are experienced negotiators, know how to market property, have a database of buyers, and understand the risks and legal issues.
Whichever agent you choose to employ it’s imperative that they provide you with a logical written plan of how they intend to go about maximising the value of your property, so you receive the best price.
Secondly, first impressions matter, so spend time and money preparing your property for sale.
Prospective buyers will be very conscious of the presentation of your home, and will pay more when it feels good, so it is very important that your home looks its best.
This might include renovating or touch up and repairs, decluttering, cleaning, gardening, fence and driveway repairs.
You don’t need to do a major renovation, but if everything looks good except the colour, or wallpaper, on some walls, or an old bathroom, then it would be a good idea to invest in some painting, refreshing or restyling of rooms.
Decluttering your home is so very important. The aim here is to make your home look more spacious than it might otherwise be. So, tidy up and organise storage areas, shelves, drawers and remove any decorative or unused items.
Ensure the home is a comfortable temperature, all heating has been serviced and rooms are well aired. Invest in some scented candles or home fragrance, especially if you have pets.
Clean, clean, clean, including windows inside and out, and all appliances.
Tidy the garden. Consider extra planting, or a quick makeover with bark or lawn fertiliser.
Paint fences, stain decks, and repair any outdoor fixtures and fittings.
Wash and clean the exterior of the house, as appropriate depending on the cladding, it will be well worth your while.
Fix everything! Buyers can be very inquisitive and will be looking for faults, so look to fix anything that might be a potential problem in the future.
Thirdly, invest in marketing your property. The marketing will improve the chances of a faster sale and a better price, because more people will know about it, creating buyer urgency and competition.
Advertising is an investment and it will only increase the value of your home. Consider that $1,000 might return an extra $2,000 to your final sale price, or it could mean an extra $5,000, or a quicker sale.
As a rule of thumb, most agents in New Zealand are of the view that you should consider investing between 0.5% and 1% of the asking price for your property in your marketing campaign.
Home staging, professional photography and video, attractive signage, and well written copy, all have the ability to alter the way a buyer perceives the property and the value of the property.
Make sure that you look for a real estate company that not only uses all of the traditional marketing mediums that you would expect, but some innovative ways as well. Marketing online, on social networks or on TV are all great ways to reach extra potential buyers.
You’ll get one chance to make a first impression, so do it once and do it well. An under-investment in marketing can end up costing you more in the long run. The right marketing campaign will both save and make you money.
Mike Pero