The best advice is always the simplest advice. Whether it be tips about your finances or your love life, if you can’t see the light at the end of the tunnel, then the advice is too complicated. So, what’s the simplest advice you can receive for selling a house? Know your market.
1. The first step on your path to selling a house takes place long before the gavel strikes. This step involves using free digital resources, such as view.com.au’s Property 360 Price Estimate tool, to keep your finger on the pulse of not just your city or town’s market but your specific neighbourhood. Use this data to view comparable properties to your own, assessing how well they have sold and at what time of year they achieved the strongest prices. View other neighbourhoods and see how they compare to your own to gauge what you can do to get the best price for your home.
What’s next on the path to selling a house simply?
2. Once you have watched the market, been to various inspections (to see how people market their homes), eyeballed a few auctions and compared sale prices against listing prices, you will start to get an idea of when to sell your property and what its best attributes are.
3. After deciding the best time for selling your home and what features of your home will be attractive to property seekers, you can more easily time renovations or repairs to get your home ready to be sold.
4. After viewing an estimate of your property’s value through a Property Price Estimates tool, follow this with having your home valued by a professional. If you are in Victoria, your agent will work closely with you to create a Statement of Information for property seekers, using detailed data to list your property accurately within the market. Being transparent within the industry is fundamental in selling your house.
5. Take the time to interview real estate agents, asking them important questions that relate to their knowledge and experience will help you breathe more easily during the process of selling a house. The most important things you want to learn from them is what experience they have in your neighbourhood, who they identify as your target buyer and how they will market your property to reach those buyers.
6. Work through the marketing plan for your house with your agent. Be wary of being given a cookie-cutter marketing plan, especially if the agency has commercial ties to any given medium. They should be able to give you detailed information about your neighbourhood (sales statistics, demographics) and effectively communicate how they have achieved results. While you can rely on a great agent to market your home, it is you who owns the product, so make sure to effectively present your home to your target market.
7. Go to auction! There’s not much else you can do by this point, but it helps to know what auction day will look like as a vendor.