While your agent should help you set a realistic price for your home, and provide reasons and evidence backing up this estimate, you shouldn't rely totally on that figure. It’s best to do your research as lots of factors will influence the sale price of your property including the size, the location and if it's been recently renovated.
Factors that will have a big impact on your sale are:
- The current economic climate, including interest rates, employment levels and consumer confidence
- The level of supply and demand for properties similar to yours in the area
- Recent sales for similar properties in your suburb
If, after considering these factors, you're still not sure, you can also pay for an independent valuation by a professional valuer – try one of the websites that offer free or low cost valuation reports. These online valuations often come with input from an agent in your area, so you could receive a call from the agent wanting to follow up the valuation with a visit and a chat about why they're the right person to manage the sales process for you.
Dress up your property for sale
When your home is listed for sale it is worth exploring ways to boost your home’s market appeal. One of these is ‘home staging’. It’s the latest trend in real estate, and it simply means having your home professionally dressed or styled ahead of a sale or letting.
Staging can supersize the final sale value of your home but it may also come with a price tag of several thousand dollars. If your budget is tight, a few simple strategies can turn your home from tired into buyer bait.
Create a memorable first impression
You only get one shot at a first impression, and buyers will tend to judge the interior of your home by the outside. Happily, it doesn’t take much to dress up your home’s facade to give it extra buyer appeal. A few litres of glossy paint in a bold, cheerful colour for the front door, a new letterbox or a cluster of colourful pot plants on the porch can dramatically improve your home’s point of entry.
Bringing your home’s interior up to scratch involves two essential steps:
- Clear out and clean up. Take it one room at a time but be ruthless. If you can’t bring yourself to throw stuff out, box it and store it offsite
- The layout of your furniture can also create a sense clutter so take a good look at what you have and work out what you can live without. Remember, every square metre of exposed floor creates more size and space for buyers to fall in love with
Free furniture from walls
We tend to push furniture against walls – especially sofas. But repositioning furniture into cosy groups and creating traffic flow between pieces opens up a room and makes it seem larger. Try it and see.
Let there be light
Bring more natural light into rooms by replacing heavy drapes with light, gauzy curtains. Or try Roman blinds that will still preserve privacy at night. If windows are narrow, purchase curtain rods that extend half a metre on each side of the window to create the illusion of width.
Great lighting can involve a mixture of different light sources. Combine overhead, floor, table, and accent lighting to create atmosphere and interest. Adding mirrors, silver or glass bowls and other reflective objects to a room will further diffuse light.
Add heart to your art
By this stage you’ve added light and space to your home, and now’s the time really showcase the place with artworks and accessories.
Rather than hanging artworks along the same horizontal line within a room, try various grouping patterns. Hanging artworks in a vertical line can accentuate high ceilings. Or create interest by grouping artworks with a similar theme or colours.
Next, add the finishing touches to rooms with accessories that complement the overall colour theme. For instance, if your lounge suite is a forest green, look for accessories in varying shades of blue. Group items by shape or texture – a side table for example can be brought to life by a lamp, a vase and a book placed in a triangle formation rather than in a straight line.
Add splashes of colour with fresh flowers or pot plants, and above all – try something different! A fresh approach can bring buyer appeal to even the most tired home.
Negotiating an offer
If you choose to sell your home by private treaty, buyers will submit offers to your agent. It's your choice whether to accept, decline or further negotiate an offer.
Your agent will act as a middleman between you and the interested buyer, informing the buyer of your decision or your counter offer. In response to your counter offer, the buyer may withdraw the original offer, accept it, or come back with a different offer.
This process can continue over a period of weeks until both you and the buyer are happy with a price. Even if you decide to sell via auction, you may encounter this process. Interested buyers will often make an offer before the auction. So it pays to have a set figure in your mind that is the lowest price you will accept for your home.
Continue to information about preparing your home for inspections.