With all the hype about the looming economic crisis, some people would question if it really is a good time to sell your home. But with the right agent and a smart marketing plan the current financial situation should be no barrier.
Paul Owen from NTY Property Group, says, ‘Rather than talking doom and gloom around the coffee table, you’ve got to look at the facts.’
‘There is always someone willing to buy in a market like this, because real estate is always a good investment.’
Mark Rayner from Rayner and Associates says that the economic crisis has been exaggerated by the media and people shouldn’t be scared into not selling.
‘There were a lot of negative headlines last year and we found that the home open traffic almost stopped between July and September, but there are more and more people coming back into the market to look around now.’
Mr Rayner says the key factor when selling your home is to make sure it is priced competitively and that sellers should be willing to negotiate to a certain extent.
‘You have to price your property for today’s market,’ says Mr Owen. ‘Make direct comparisons and then make your property more attractive than those other properties. As an agent, the first thing I would advise, as always, is the importance of presentation of your property.’
There are lots of things people can do make their house more attractive to a buyer, and a good agent will be able to guide you through all aspects.
People get caught up in the emotional aspect of what they see as they walk through a house, so the idea is to make the house as neutral as possible so people can imagine their own furniture and possessions inside.
Things such as personal ornaments and photographs should be kept to a minimum. It is important to remove all unnecessary clutter and oversized furniture that will make a space appear smaller than it actually is.
‘You don’t want the house to be too personal. Everyone has a different style and other people might not see what you see,’ said Mr Owen.
Both agents agree that the internet is still the most effective way to market your home and to list it on as many websites as possible. Mr Rayner adds that traditional methods such as the newspaper and signage are still effective and have a part to play in a well rounded marketing plan.
‘Even though we publish all the home opens on the net and we send out emails, people do look in the paper and we get quite a lot of inquiries that way,’ he said.
Because the internet is such a powerful and popular marketing tool, photos of your property will often be the first impression a buyer will have, and both Mr Owen and Mr Rayner stress the importance of hiring a professional photographer.
‘Photos have got to be great, but not so great that when people come to see the house they say “oh, it’s not as nice as I thought it would be,‒ said Mr Rayner. ‘Photos should focus on the benefits rather than the features.’
Choosing the right agent is another vital step when selling your home and it is important to ask questions. Things like how many years experience they have in the industry, their sell to list ratio (which means the difference between what prices the agent’s properties are listed at and then what price they are actually selling them at) and their working relationship with other agents will give a good idea of how they work.
Mr Rayner adds that it is best to choose an agent who is local and who knows the area well.
At the end of the day, selling in the current market should not be any harder than usual Mr Owen says. ‘Price in accordance with the opposition, and if you haven’t got an offer within about four months, take it off the market, give it a month’s break and then bring it back again. Because the cycle will eventually turn around.’
Amy Henderson
