Top 10 Keys For Selling Quickly & For The Best Price In Our Current Mildura Property Market
Looking for some tips for a quick house sale for the best price? Whilst the market has been through some significant changes in recent years, there are still plenty of ways to boost your chances of achieving a quick sale. These tips will help you stand out and get moving.
1. Price it well
Price is key in the current market.
More than 36% of properties on the market have had at least on price reduction. This is the highest level since January 2011.
If you initially overprice your property, you risk alienating potential buyers. This means your property is likely to take significantly longer to sell. It may also end up selling for considerably less than if it had been priced correctly from the start.
If you want to ensure you put your property on the market with a realistic asking price, it’s important to do the most accurate research of comparable properties that have recently sold in the area. At Mildura Property Advisers we are experienced local property market researchers and real estate agents and will ensure that we provide you with the most accurate evidence of comparable sales possible to assist you.
2. Remember that first impressions really do matter
Research suggests that it takes an average of 8-10 seconds for a buyer to decide whether or not to buy a house. Your property’s kerb appeal will play a vital role in this decision.
There are some simple, low-cost steps you can take to improve first impressions. These may include:
· Ensuring your windows, front door, guttering, and fascia are clean and well-maintained.
· Tidying up any front garden area.
· Storying your bins neatly and discretely.
· Ensuring your driveway is swept and tidy.
3. Appeal to the broadest audience possible
If you want a quick sale, it’s important to make your target audience as big as possible.
Neutralising strong colours and limiting clutter will help potential buyers envisage themselves living in the space and broaden your property’s appeal.
4. Be intentional
It’s important to be intentional with how you present your property. Before you put your house on the market, spend some time thinking about how you want to present your property to prospective buyers. This is the time to finish off any DIY projects and give any tired looking areas a fresh coat of paint. Always call Mildura Property Advisers before you begin works and we’ll assist ensure you are maximising your improvements without overcapitalising.
5. Know your property’s strengths
Think back to when you purchased the property. What made it the one for you?
When you’re selling a home, it’s important that you’re clear on what the property’s biggest selling points are. These points need to be communicated clearly, both in the property’s online listing and during property viewings.
6. Choose your partners carefully
Estate agents and solicitors play a significant role in the success and speed of your property sale. Personal recommendations are always a good way to find proactive and experienced professionals. Failing that, it’s important to ask for examples of similar properties they’ve recently sold in the area and look at any online customer reviews. Realestate.com.au has wonderful information about all real agents in the region and most testimonials are fully verified. Just visit www.realestate.com.au , type the region “Mildura” and click find agents.
7. Be flexible
Once your property goes on the market, it’s important to offer flexibility in terms of access to the property for viewings. If a buyer can’t view your property within a few days, they’re likely to lose interest and find alternative options. At Mildura Property Advisers we take the time to understand your best times for showings and ensure we have variety of times available that suite you and ensure all buyers are able to view.
8. Be ready to negotiate
At the end of last year, homeowners were typically accepting 5.5% below asking price. 1 in 4 owners were accepting more than 10% below asking price.
It’s important to remember that an asking price is just your starting point and is unlikely to be the price you achieve for your property. In the current market, it’s important that you’re ready to negotiate and have a realistic idea of what constitutes a ‘good’ offer for your property. Your estate agent should be able to advise you on this and guide you through the process.
9. Make sure you have all relevant paperwork to hand
Once you’ve accepted an offer, your solicitor will begin work on the legal conveyancing process.
You should have any paperwork that relates to the house readily available for your buyers (Vendors Statement/Section 32 in Victoria; Draft Contract of Sale & Council Property Information in NSW). This might include any lease information (if your property is leasehold), details of any planning permission or building regulations for any extensions or significant home improvements, and any guarantees or warranties for things like windows and boilers.
10. Be solution-focused
Throughout the house sale process, it’s important to remain focused on the desired outcome – a quick and successful property sale.
Unfortunately, around a third of property sales fall through before completion, so it’s important to minimise any risks where you can. There will invariably be bumps along the way. Surveys and searches often pick up little things that need further investigation, but it’s important to work with your buyer to find a mutually acceptable solution. If your buyer’s survey identifies an area of concern, you could consider getting the issues resolved before exchange of contracts or reducing the purchase price to reflect the required remediation.
Although the current market may feel more challenging than in recent years, there are still plenty of buyers in the market or a well-presented, well-priced property. It’s important that you get your property looking its best and price it competitively. You also need to ensure you enter the market with the right attitude – open to compromise and keen to sell. If you do so, a quick and successful sale should be entirely achievable.