Tag Archives: Residential sales

Spring is coming – it’s time to get your house in order

It’s a widely held belief amongst sellers that spring is the prime time to sell your home. The weather has cleared up, the garden is in full bloom and buyers have come out of hibernation. However, there are a few things you need to be mindful if it is your intention to market your home in the spring.

 

  1. Consult the right people

If you haven’t already, get the ball rolling by requesting a market appraisal from your real estate consultant. We’ll be able to advise you on what can be done to maximise your home’s appeal, an effective marketing strategy, and walk you through the timelines you wish to meet – as well as providing you with an indication of the estimated price you’re likely to achieve.

 

  1. Be careful not to leave your run too late

Every year we see sellers who take advantage of the annual spring-time fervour in the market place. We’re already seeing it in August with very high clearance rates at our auctions, and new properties on the market getting snapped up very quickly. Typically, listings tend to spike in October and November – when the majority of sellers who initially thought of selling in spring time finally get round to getting their homes on the market. The laws of supply and demand dictate that this will at least have a moderating effect on prices, as buyers then have a greater selection of properties to choose from. By getting on the market by early September, you’re likely to still have time to sell, then find, purchase and move into your next your home before the end of the year.

 

  1. Cross those items off your home maintenance ‘to do’ list

Prior to getting on to the market, we suggest you get cracking on those outstanding home maintenance tasks that need completing. In the ‘steady-as-she-goes’ market that we currently have, any glaring jobs for buyers to complete can simply result in them moving on to the next, more appealing property. It’s also a good idea to have a builder or inspector cast a critical eye over your property during this time, to bring to your attention any urgent matters that require attention. This will pay off at the time of sale, lessening the likelihood of the sale falling over due to an unfavourable building report.

 

  1. Presentation is paramount

In a hot market, a seller can get away with listing their property in any condition, knowing that they’re likely to still be able to deal with a multitude of buyers. However, in this even-keeled market, we advise our sellers to ensure their home is presented in its best possible light. Ruthlessly declutter, give your home a deep clean, see to any deferred maintenance (see point 3) and have your garden look as appealing as possible. Determine for yourself what is the most you are prepared to do in preparing your home for the market, so that when it comes to decision-making at the time of sale, you know for yourself that there is nothing more you could have possibly done to affect the ultimate value of your home.

 

  1. Engage an effective marketing strategy

We have learned over the past 18 months that this is a market that rewards proactive and intentional marketing strategies. We’ll be able to assist you in preparing a marketing campaign that will ensure that your property is seen by the right cohort of buyers and achieve your objectives. This would normally be a combination of professional photography, grunty online upgrades, social media advertising, database contact and print advertising where appropriate.  Be wary of agents who say they can sell your property with little or no marketing investment – they’re either focused on the quick sale at any price, or are simply using hope as a strategy to sell your property.

 

  1. Consider how accessible your property will be to prospective purchasers

Many agents will say that one half-hour open home a week will be sufficient to attract buyers. At Team Griff, we couldn’t disagree more. We regard three open homes a week for the first three weeks on the market as the baseline standard. We hear from prospective purchasers their frustrations at having to prioritise properties to view – which are generally half hour slots between 12 and 2.00pm, either Saturday or Sunday. Making it easier for purchasers to view your property by holding longer and more frequent open homes, we’re increasing the opportunity to get more buyers through your property. More buyers generally lead to more offers, which then increases the chances of creating a competitive environment for purchasers – giving your best chance to secure a premium price for your property.

 

  1. Set out your plan then execute it

It’s said that a goal without a plan is simply a wish. If your goal is to sell your property and move into your next one before the end of the year, simply break that down into small, manageable steps to help keep you on track. We can assist by putting you in contact with contractors, gardeners, handy-men and cleaners – all there to help you achieve that end result you require. We’ve seen many times when sellers have rushed to get their home on the market, ignoring the important preparation, and to only take a “wait and see” approach – results in either selling at a significant undervalue, or languishing on the market for months. Sellers who put in the work behind the scenes and are intentional with their marketing strategy will be handsomely rewarded.

 

Whether you’re looking to sell this spring or are simply keen to get an update as to your home’s current value, contact us today for your free, no-obligation market appraisal. We’re here ready to assist.

Counting the cost to sell

Going through the cost, time and inconvenience involved with preparing property for sale is something we all go through, myself included. Recently, my wife and I experienced this ourselves, where one of our rental properties required a pre-sale makeover and costs quickly escalated outside our original budget.

Now, nearing completion, to prepare the property for the market we’re in the process of staging it to ensure maximum effect when prospective buyers see it either online or in person. It’s an often overlooked area of the selling process but one we recommend nonetheless.

In the post-quake era we live in, a current property inspection provides extra peace of mind for prospective purchasers, as does a readily available LIM report (which we consider best practice). The right digital marketing plan is essential these days, and once all that is considered and the property is sold there’s the commission to take into account as well. When you add up all these costs against the investment you’ve made in your property, it goes without saying that you should expect a decent return come auction or sale day. It’s another good reason to hand pick a well-skilled agent with a proven track record and negotiation skills!

We encourage our sellers to give it their very best shot when it comes to selling. That way, when it comes to decision-making time, there is absolutely no question of whether anything else could have been done to extract a better result.

Preparing for winter

With brisk mornings becoming more common and daylight hours beginning to fade, it’s worth being mindful about the winter ahead. And while we’re advocates of selling during these months when there’s less competition, it’s important that you give proper attention to a few key areas in order to effectively showcase your home.

Effective heating, lighting and insulation qualities are given more notice by purchasers when inspecting properties during the winter. Never underestimate the perception these create. If you’re selling an investment property, or a property that is likely to be suitable as a rental, it’s also important to remember that new insulation requirements come into effect from 1 July. Check out the team at Warm Fuzzies, they’ll provide you with an insulation assessment for $50 +GST as well as quotes from a handful of insulation installers to get your property up to scratch.

Appealing to these senses and making people feeling like they can live there like it’s their own home is also key. A warm house with fresh baking on a cold winter’s day is the ultimate welcome home feel! Remember – a home liked in winter is loved in the summer!