How to get your property sold

Freshly baked cookies on the counter to create a warm family feel…

A fruit bowl filled with lemons and limes to draw attention to the chic bar set-up…

Even a staged bottle of champagne on the balcony to show you how you could be living in the lap of luxury.Lemons

These are just some of the things property sellers (and their agents!) do to help present the home in the best possible light when marketing it to would-be buyers.

There are definitely plenty of tricks you can use to assist with getting your property sold – but the truth is, a great-smelling house is probably the last thing you should focus on.

Here are some more strategic things you can focus on to get your property successfully sold:

1. Choose your agent wisely

The real estate agent who has been tasked with selling your property can either make or break your success.

They’re such an important factor in selling – yet, many sellers make the mistake of thinking if they’ve met one agent, they’ve met them all.

This is not the case at all, so be sure to pick carefully when you’re deciding who to sell your property with.

Don’t be afraid to shop around and meet with as many as you need to find the right fit.

To choose the best agent, there are several things you should take into account.

Check out their history of previous sales, their local knowledge, their references and client testimonials.

And above all, trust your instincts.

No matter how big their ad is in the paper, if it doesn’t feel right when you’re talking with them, move on to the next agent.

Remember, if you feel uncomfortable dealing with them, how do you think prospective buyers will feel?

2. Consider the most suitable sales method

There is more than one way to sell a house.

Home SellIn fact, there are several sales methods real estate agents adopt in order to effectively market a property.

These include: auction, private auction, private sale, expression of interest, sale by negotiation, sale by tender, and off-market sales.

The best way to sell a property is going to depend on a number of factors, including the demographics of the buyers, the price point and the current market conditions.

There are many varying factors an agent will take into account when deciding how to sell, which goes back to point one.

Make sure you’ve chosen a good agent!

They’ll know which method would potentially deliver the best outcome.

3. Set a strong selling price

The listing price of your property is critical, and there are a number of different things to consider when setting the price.

Setting it too low means you could miss out on profit – and listing it too high means you run the risk of generating less interest.

The Great House Price Balancing ActSo where do you start? By setting a base price.

This is your absolute floor; the minimum amount you are willing to accept for the home.

Keep your expectations realistic, and try to look at the price objectively.

Ask around in the same location to see what other properties have sold for recently, and consider getting a formal property valuation as well.

This can refine your expectations and narrow down the numbers.

Don’t forget to take your agent’s commission into consideration when setting the price, as this can eat into your profit.

4. Market your property well

Marketing is key when it comes to selling your property for the highest possible price.

real-estate agent receives a young couple interested to invest iYou can’t expect to get it sold when you’re not “putting it out there”, so discuss the best marketing approach with your agent.

Again, if you’ve chosen a great agent, they’ll know all sorts of tips and approaches that will best suit your property.

You’re aiming to generate interest with a marketing campaign that targets a particular demographic and audience, such as first homebuyers or investors.

Each demographic will have different tastes, so it’s good to sit down with your agent and discuss who you think would be most interested in your property, and why.

From there, you can build a successful marketing campaign that drums up enough interest and encourages someone to make an offer.

These are just some of the strategies you can use to drum up interest in your property and ideally, get an offer on the table.

If you’re not happy with your real estate agent and don’t feel like you’re getting the interest or offers you were expecting, look for another sales professional who appears to be getting results in your area.

They are likely to have built relationships with a number of qualified buyers – and could be your ticket to a swift ‘sold’ sticker.

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Michael Yardney

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au


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