Don’t Skimp when it counts
At this stage, no one from more than a block or two away knows anything about your home. This is likely to stay the case unless you take action during your selling campaign.
If you are anything like around 99 per cent of Australians, your home is your most significant asset. It is the result of a very (one-sided) financial partnership with a bank for up to 30 years and you have probably paid as much interest on it as it has grown in value.
You therefore want the best result possible when it comes time to sell and cutting corners in the lead-up to auction day or during a private treaty campaign can make a massive difference to the result; not to mention your ability to buy the best post-sale upgrader or downsizer property that you can.
When marketing, the old adage that you have got to spend money to make money could not be more significant. Comprehensive marketing campaigns might seem to be full of fees and extra costs, but these are minor compared to the major returns the right campaigns can deliver.
One mistake that some people make is to choose the agent with the cheapest campaign. The agent that offers a bargain basement fee will provide a service that reflects that. Firstly, they are unlikely to have the resources to really get your home out there to as many buyers as they should. You also have to wonder how they will negotiate a great price, when they seem to want to offer everyone the quickest deal and to themselves tread the path of least resistance.
You want plenty of coverage. Rather than just taking out an ad in the paper, or whacking the house online, combine the two outlets…A print and online campaign has been shown to yield results up to $100,000 higher than just one or the other in some capital cities.
Make sure your agent also adds video and social media to the mix. For all you know, your perfect buyer may not even be in the country. Your property must reach as far and wide as possible.
Finally, consider selling at auction rather than privately. If your local market is suitable, the extra couple of grand spent on staging an auction might come back to you ten-fold if the bidders get emotional…and in a tough market for buyers, they usually do.
Tim McIntyre is the senior real estate reporter for the Daily Telegraph and News.com.au.
Over the past decade, he has attained widespread knowledge of Australia’s many unique property markets and is an authority on all things buying, selling and investing.
His commentary appears every Saturday in the Daily Telegraph Real Estate lift out, as well as online at news.com.au.