This month in Adelaide, there is a definite food vibe with many delicious events taking place. Tasting Australia, Adelaide Food Fringe, Chardonnay May in the Adelaide Hills, and the Clare Valley Gourmet Week are just a few tasty happenings during May.
It seems appropriate then that we share our Recipe for Sales Success to ensure the process of selling your home is as smooth as it can be.
We’ve put together all the ingredients and proven method for selling your home and the important steps to ensuring you get the best price for your property.
1. Making the decision to sell
There are many reasons people sell their homes: upsizing or downsizing, financial responsibilities, changing your investment strategy, or purely for a change of scenery. Whatever the reason, making the decision to sell your home can be incredibly emotional.
Is it the right time? Am I prepared to go through with a move? How will the kids cope? What’s the market doing? Do I want to go through the whole preparation and selling process?
However, while some months and seasons are more popular for sales than others, there’s actually no ‘right’ time to sell a property. If the time is right for you, then you’ll be in a good frame of mind for the sale process to happen.
2. Finding the right agent
Out of all the points outlined here in this article, if you take just one thing away, it should be that you need to get a great real estate agent on board who knows their stuff.
You’ll want an agent to help you sell your home who knows the market, understands your area, and can advise you on the best ways to achieve the best outcome.
Be prepared to meet with them, attend some of their current open homes, generally assess how they do business, and be comfortable with your choice. You’ll need a skilled negotiator and someone who offers advice regarding what to do and how to market your property while suggesting a price that is sensible and achievable. And, of course, you’re looking for an agent who consistently follows up and engages with potential buyers.
3. Property Appraisal
Some interesting data to kick things off. PointData’s Lay of the Land Autumn Edition, released this week, found 88 per cent of Adelaide properties experienced price growth of more than 10 per cent in the six months to February 2022.
While the eastern states’ real estate prices are trending downwards, PointData described the Adelaide price growth outlined in their report as “truly unprecedented for the market”, partly attributing the boom to buyers’ perceptions of a market supply shortage” due to a continual dip in online real estate listings combined with an increase in sales.
So how do you determine what your home is worth? Again, your real estate agent is your friend. They can assess its location, size, age and any extra features, show you similar sales in the area and provide up-to-date market conditions.
4. Deciding on a price and the method of sale
Pricing a property is no easy task, and it takes an experienced agent to guide you. While many vendors believe they should be getting back what they put in, buyers don’t see it that way. They look to market conditions and recent property sales based on homes similar to yours. They’re looking at condition and age, size, number of bedrooms and bathrooms, car spaces, and other features matching their expectations.
The key here is to be competitive but not misleading. You’ll want to attract as much of the target market as possible. Ultimately, the open market will decide your property’s worth. A good agent’s job is to get them to the property because competition will drive price.
Method of sale — Auction vs Private Treaty
There is no right or wrong here, but both vendor and agent must be comfortable and confident with the chosen method. Both have benefits and challenges. Your agent will explain all options thoroughly, so you know what to expect, whichever path you decide to go down.
Your Agent will negotiate the best possible offer from all interested parties for you to consider.
5. Marketing
Competition drives price, so the idea is don’t go cheap; it’s a false economy. You’ll want to capture as much of the target market in as short a time as possible. Be wary not to oversell and underdeliver. Professional marketing material provides purchasers with all the information they need to help them make a decision, i.e., land size, building size, outgoings, Development Codes, etc.
Typically, professional marketing material used throughout a campaign will include a signboard, database, premiere internet listing, sales brochure, photography, drone photography, and social media campaign.
6. Presentation
Once a date has been set for your first open, you’ll need to ensure your home is as presentable as it can be to entice interested buyers. A good rule of thumb is to attend to anything that could put buyers offside and stop them from falling in love with your home.
You only get one shot at a first impression. If it’s broken, fix it. If it’s dirty, clean it. If there’s stuff everywhere, put it away. Remove your stamp: de-personalise and de-clutter is the order of the day. How you live in a property is not how you should present it for sale. You want people to imagine themselves living there and form emotional attachments. People remember how a home feels.
Cosmetic improvements such as fresh paint, clean carpets, and fresh mulch in the garden can have a significant impact.
Be prepared
If your home has any major issues, such as a roof that needs replacing, large trees close to the property, or even a steep driveway, talk with your agent. Formulate a plan for the selling campaign if the question comes up. Either that or bite the bullet and have the work to alleviate the problem.
Staging
Think about improving the look and feel of your home by replacing some of your furniture with borrowed items or hired pieces from a staging company. A good real estate agent will always encourage professional furnishing of vacant homes and will be able to advise you on whether staging your home is a worthwhile option.
7. Next steps
So there you have it. Combine these ingredients with skilled, strategic negotiation, and you have the recipe for success.
The professional sales team at McGrath Real Estate Group can help you sell your home by working with you through all of the above. The end result is a tasty outcome you’ll savour for many years.
Phone our office on
8350 4200, or drop into
42 Brighton Road, Glenelg.