We chat to property expert Georgie Todd from Harris Real Estate for her top tips.
1. Choose an Expert
During the last past two years, we’ve enjoyed a strong market, with high buyer demand and very high success rates but now, as the market changes, choosing an agent with skill and experience to ensure your property has the best opportunity of success has never been more important. It’s also important to choose an agent that you resonate with and who shares the same values as you. Your selling journey will be exactly that, a journey. Many of my clients say they miss the communication, the daily banter and support from my team – that is truly the biggest compliment that I take out of a sale.
2. Know the Market and Set a Realistic Price
Put your ‘buyer hat’ on and checkout the competition by looking at properties that have sold in your area or that are currently on the market. It’s important to make sure your property is priced realistically in relation to other homes that have recently sold to ensure the market engages with your home and want to view it. If your property is priced too high, then there is a risk that you will lose your best opportunity to obtain the right result. Your strongest buyer interest occurs in the first 7–14 days, so launching your property to the market with a competitive pricing strategy can be the difference between selling within 1–3 weeks at a premium price or being on the market for a longer duration and undergoing multiple price revisions to simply get a result.
3. Choose a Method of Sale
There are lot of factors to consider with regard to the method of sale – for example, where is your property located (not just the suburb, but even the location within a suburb can alter this decision), the type and style of property, and the target market. Most importantly, what is going on in the market, and what are the weekly auction clearance rates and external economic conditions?
4. Prepare Your Property For Sale
Homes that are well presented, from the curb to the rear of the property, will not only generate the most interest and foot traffic at opens, but will also ensure the best price with the least days on market. Once again, put your ‘buyer hat’ on. When you enter an open home, what do you want to see? Many buyers will quite literally purchase based on ‘a feeling’ or ‘the vibe’ of the home. Give your property every opportunity to sell itself by presenting your home well. My team and I can project manage getting your home ready for sale and we have a great list of trades we work alongside to help make this process relatively stress free. There are also payment options to relieve the stress of upfront costs.
5. Market Your Property
It is essential to get the three P’s correct when marketing your property for sale – Price, Promotion and Presentation. Every property is different, and the market and location will determine the best way to market it.
Once you have a buyer and the contract of sale is fully executed (signed by both the purchaser and the vendor), then your cooling off period will begin on the following business day. Each state differs slightly, but in South Australia the cooling off period lasts for two full business days with your deposit due on the following business day.
QUESTIONS YOU SHOULD ASK YOUR AGENT:
- How long have you been in the industry?
- How many properties have you sold in the last year?
- What is your average days on market? An average auction or expression of interest campaign is 3–4 weeks.
- How do you negotiate offers? This could also include, what is your strategy around pre-auction offers and handling multiple offer situations during a ‘best offer by’ campaign.
- How many people are in your team and what are their roles?
- Why do you think you can get the best result for my home?
- Why you? Be mindful to choose an agent that you resonate with and who shares the same values as you.