Thinking of selling your house? 2021 could be the year for that, but experts say there are certain steps suppliers should take to ensure they get the best price.
With the housing market hot and showing no signs of slowing down, ambitious buyers and real estate agents are crying out for more real estate in the market.
This means it could be a good time for those considering putting their property up for sale. But while times of limited inventory allow for easier and faster sales, they don’t necessarily have to be equal to achieving the best possible price.
Finally, there is a difference between a quick real estate outburst based on a first offer and investing little time and effort in truly maximizing sales.
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So what should homeowners who want to get the most out of selling their largest property do? Things Talk to a few experts for advice on how to do it properly.
Do your homework – and do it early
First, Institute of Real Estate (REINZ) executive director Bindi Norwell says sellers should make sure they do some research to understand their local market.
“Not all properties with three bedrooms and two bathrooms are the same, so you’ll have a really good idea of what’s available in the surrounding neighborhoods and what the ‘competition’ looks like will come in handy when it comes time to sell.”
It is always valuable to know what prices are effective to increase like similar properties in your area. It can also provide you with the necessary details that offer an attractive difference in sales.
Century 21 owner Derryn Mayne says pricing your property can make a big difference, especially for entry-level properties. This is because first home buyers are now avoiding real estate at no cost.
“They have a budget and are tired of entering situations with multiple offers and being kicked out of the water. Not advertising the asking price can be beneficial to the supplier, but it also risks rejecting many potential buyers who think it is too difficult or is beyond them. “
Another reasonable thing is to resolve all relevant legal requirements before you put your property up for sale. This may include obtaining LIM reports to identify any unresolved issues and then correcting them or meeting any long-standing building code requirements.
This kind of organization allows you to avoid headaches due to problems during the sales process, says Ray White Mt owner Eden Jared Cooksley. “It gives you time to breathe and makes you less and less messy.”
First impressions really count
The next point of action for any vendor is the oldie, but that’s good. You need to look at the presentation of your property – and, remember, first impressions count.
Norwell says it means making sure your property has good street appeal and that you’ve done all those “weird jobs” around the house that you intended to get over the years.
For the front of the house it is necessary to mow the lawns, tidy up the garden, remove the leaves that touch the house, sweep the driveway and divide the surrounding berms.
It also includes caring for repairs that aren’t exciting, but are critical and are often overlooked, Cooksley says. Get rid of things like cracked windows, water entering bathrooms and lights.
Getting fresh varnish and carpet replacement are the two most effective ways to increase the attractiveness of a property. This means that agents often encourage these steps, but one thing that cannot be avoided is deep cleansing.
Cooksley says professional cleaning could cost a few hundred dollars, but it can change everything. “Preparing a house for sale can cost from about $ 500 to $ 2,000 (unless you need something bigger). But that investment could add $ 10,000 to $ 20,000 to its value. “
A ceremonial presentation is everything
When it comes to the official presentation of your property for marketing photos and open homes, the key word is clutter.
Mayne says that while you may love all of her life treasures and family photos, most people won’t.
“Scattering a full house is a huge difference, as is setting up an empty house. Then there are the little things: If the front sill needs paint, paint it. If the door mat is dirty, replace it. These are simple things, but they really set the tone. “
It’s important to de-personalize the property so the potential buyer can see himself living in the house, instead of just feeling like he’s visiting someone else’s property, Norwell agrees.
“So try to make the property feel as neutral as possible. Also, consider staging your home to really sell the ‘dream’ of your home and try to create the best possible first impression. “
It is important to note that staging is a simple option if the property is vacant, but not if you live in your own house. However, there are solutions halfway through which the staging company can rearrange your furniture so that the property is presented in the best light.
Choose a good agent – and listen to their advice
The decision to sell privately may seem like a good idea, but a recent REINZ study found that using an agent could bring you up to 15 percent more for your property than a private sale.
This is because a good agent has specialized knowledge of the local market, sales, marketing and negotiation skills, and a network of useful contacts.
Cooksley says many people who sell privately think they did well, but they don’t know what they could have achieved with professional help.
“For suppliers who want to get the best possible price for their largest asset, the agent makes all the difference, even in a vibrant market like this.
“When houses sell quickly, people tend to rush in and too many people just make the first offer, but this market doesn’t need that. A good agent will know if the offer is good or if you can endure more. “
Agent selection involves some research. Identify a few who seem to have good results and interview them. It is important to find out about their recent sales and evaluate their professionalism, but also to see if you agree with them.
The agent-supplier relationship must be open and transparent to achieve the best results, Courtney says.
“Trust and communication are important, but you need to be open to feedback and follow the agent’s advice.”
Considerations from the Covid era
As in so many of our lives, the Covid crisis has led to some new considerations for those selling their homes.
Norwell says one thing that is especially important in the current Covid environment is to ensure that you focus on improving any outdoor surfaces. Prior to Covid, agents saw a greater shift toward smaller estates and reduced outdoor areas.
“But since the lock, we’ve seen an increase in demand for properties with larger yards, decks or a pool. So, anything you can do in terms of focusing on those areas is likely to help you sell your property. “
Covid has also spurred a change in the way people view and buy real estate. Many have turned to their computers to hunt down houses, and more and more are buying properties unseen.
People just don’t want to miss out, so they actually redeem first impressions, provided they then physically examine them, Mayne says. Therefore, a strong professional presence on the network and social networks is crucial in the current market.
“A great website is more important than ever. This means that professional photography with drones and videos, virtual tours and 3D floor plans plays a key role in attracting customers and achieving the biggest dollar. “