In Australia, property is king. We’re a nation that loves housing – whether it’s an investment used to build wealth and secure our financial future, or a place to call home. Property prices in Australia have been steadily increasing over the years, with major cities like Sydney, Melbourne and Brisbane experiencing significant growth. This has resulted in many home owners seeing impressive returns on their investments, which they may be looking to cash in on, but selling your home can be a consuming undertaking. It takes careful planning and strategic execution to maximise the chances of a successful and profitable sale. Whether you’re a first-time seller or a seasoned homeowner, these 10 tips will help you navigate the real estate market and present your home in the best possible light.
Curb appeal matters
The outside of your home is the first thing potential buyers will see (and first impressions are crucial!). There are several things you can do to enhance your home’s curb appeal, including maintaining a well-manicured lawn, pressure-washing the driveway, ensuring the exterior is clean and inviting, and adding some colourful plants to the space. By improving your curb appeal, you create a welcoming feeling for those that come to inspect your home.
Declutter and depersonalise
Try to make your home feel a bit like a blank canvas. Creating a neutral and welcoming environment that’s free from personal items and excess furniture can help potential buyers to envision the home as their own. A clean and organised space will make your home more appealing, and allow the features of the space to shine through (without being obscured by your personal belongings).
Stage your home
Consider professional staging to showcase your home’s full potential. Staged homes often sell faster and at higher prices. According to a six-year study by Cape Cod Residential and The Interior Design Association, staged homes in Brisbane were typically found to sell for a premium of 3 to 10 percent. If professional staging isn’t feasible, consider instead rearranging furniture and decor to highlight key features and create a welcoming atmosphere.
Invest in small repairs and upgrades
Attend to minor repairs and maintenance issues before listing your home. Small issues like leaky taps, cracks in the walls or broken light fixtures can make a big difference in how potential buyers perceive your home. Additionally, consider making some simple upgrades such as a fresh coat of paint, new light fixtures or replacing outdated hardware. These small investments can make a big difference in the overall appearance and appeal of your home.
Set the right price
Those looking to sell quickly will want to set a competitive price. After all, according to research by Compare the Market, almost 40 percent of Australian homeowners are planning to sell their property in the next five years. With so much competition out there, you’ll want to make sure your property is priced right. Research the local real estate market and consult with a real estate agent to determine a competitive and realistic listing price.
Use high-quality listing photos
In the digital age, high-quality photos are essential for attracting online buyers. We’ve all seen those poorly lit, out-of-focus photos that do nothing to showcase a property’s potential. Invest in professional photography or (if you have the skills) take the time to stage and photograph your home yourself. Use natural lighting and capture key features and unique selling points of your property. These high-quality photos will make a strong first impression on potential buyers browsing online listings.
Market effectively
Ask potential agents what their marketing methods are before deciding who to go with. Once chosen, work with your real estate agent to create a comprehensive marketing strategy for your property. Utilise online platforms, social media, and traditional methods to reach a broad audience. Highlight your home’s strengths and its unique selling points in your marketing materials.
Be flexible with showings
Not everyone is available for a Saturday morning inspection. Accommodate potential buyers by being flexible with showing schedules. Make your home accessible for viewings during various times of the day, including early evening after work and weekends. The more accessible your home is, the more opportunities you have to attract a variety of serious buyers.
Highlight energy efficiency
With an increasing focus on sustainability, emphasising your home’s energy-efficient features can be a strong selling point. This could include showcasing energy-efficient appliances, insulation, solar panels, and any eco-friendly upgrades you’ve made that could appeal to environmentally conscious buyers. Energy-efficiency could also suggest lowered utility costs for potential buyers and help make your home stand out in a competitive market.
Communicate transparently
Establish open and honest communication with potential buyers from the get-go. Disclose any known issues, provide relevant documentation, and be responsive to inquiries. Be open to negotiating with potential buyers on certain aspects of the transaction, such as closing dates or repairs. Building trust can make the negotiation process smoother and increase the likelihood of a successful sale.
Selling your home involves a combination of careful preparation, effective marketing, and strategic decision-making. It’s important to remember that buyers are often looking for not just a house, but a place they can call home. By following these ten tips, you can enhance your home’s appeal, attract more potential buyers, and hopefully increase the chances of a successful and profitable sale in the competitive real estate market.
