Property & Sales
When it comes to selling your property many individuals, couples and families are unsettled with how to go about it, because let’s be realistic, you’re deciding to sell one of the biggest assets that you hold. There is a lot to think about when putting your property on the market such as, agents, when to sell, how to present your property and what to do if you have a tenant. It’s your one opportunity to get the best price for your property so it’s important that your making smart informed choices. This article hopes to inform all those who still have unanswered questions and common concerns when it comes to selling your home.
What should you look for in an agent?
This month we met with Shane Flanagan who tells us everything you need to know about selling your property!
When it comes to choosing a real estate agent most individuals tend to interview 2-3 agents to gain a variation on who they believe will be most suited for them. Many also choose real-estate agents with who they already have a relationship with whether that’s from being a previous client or other personal affairs.
It’s important and very recommended that you chose a real estate agent that is located near you, as they will have the most knowledge and experience of the property market in your area.
If you are in the interviewing process of finding an agent here are a few helpful questions:
- What price do you think the property will sell for?
- What process would you recommend (Auction or Private)?
- What are the fees, commission, and marketing cost?
- How long would it take to sell the property?
- What’s your auction clearance rate?
When deciding on an agent it’s also recommended that you look beyond their fee or prices but rather evaluate the process that they can put into place in helping you make the most off selling your property.
When is a Good Time to sell?
When individuals are choosing to put their home on the market, many wait for the ‘right time to sell. There is no easy answer to “is it a good time to sell my house”, many people believe that Spring is regarded as the best season/time to sell a house. However, with a large percentage of people following this notion and waiting till spring to join the market the buyers will being to split between the properties.
The ideal time to sell is when there is less on the market, not more. With less on the market, you will have ‘buyers competing for your property, rather than properties competing for the buyers”.
So, in many cases winter is when there are fewer properties on the market, giving your property less competition to sell.
What does a Property Owner need to do to present the property?
Yes, a modern kitchen or updated bathrooms may certainly raise the value of your home and may interest different buyers but the process of remodeling before you sell will impact you financially not to mention that the payback isn’t guaranteed. On top of that, prospective buyers might not like your version of remodeling and change the entire thing. Yet there are a few low-cost home improvements that are simple and can help raise your home’s value.
Landscaping/gardening. When a buyer arrives at your home, great landscaping can help create an impressive first impression. Whether it’s pulling out a few weeds, mowing the lawns or edge, and mulch the garden, each of these can help create a neat and attractive appearance.
Paint/clean walls. A simple paint job or subbing off the property scrubbing the walls/ceiling can help give your home a fresh face. By simply fixing chipped paint or old outdated colours it’s one less job a buyer sees themselves having to do/fix when purchasing your home.
Fixing flooring/carpet. Many floors naturally become old and worn down over time, potentially turning a buyer off your home. Whether it’s relaying new carpet or simply professionally cleaning the floors, it’s a cheap expense that can go a long way when selling your home.
Another mechanism real-estate agents recommend when selling your home is to declutter. Decluttering a space can help the area and floor space look bigger. A less is more attitude can also help a buyer imagine the home beyond what it currently looks like.
When selling should you remove your tenant?
There are a few things sellers can do to make the process of selling more smooth when a tenant is living in the property.
- Make showing times easy for them. Most open houses here in NSW are on a Saturday morning. Choosing a time that suits the tenant each week can help make this difficult time easier for them and yourself.
- If buyers are wanting to visit the property during the week, an example of getting the tenant out of the house is maybe buying them a dinner voucher for them to use.
- Help them keep the property in good condition. If the tenants are a family for example a house isn’t always going to be perfect, so helping them keep it clean and tidy, for example hiring a weekly cleaner can help your tenant before open houses.
- Be understanding, the tenant is now going to have to find a new place of residence, this change can be stressful and upsetting, so it’s important to be understanding even though it is initially your property.
As a seller, it can be a stressful and nervous time putting your property on the market. But with the right real-estate agent and information, can help make the experience enjoyable.
If you are in looking to get into the market to buy or sell, we highly recommend Shane Flanagan from sanders real-estate agents Jannali.
