A Guide To Selling in QLD
Should I Sell Now?
It’s an age-old question, open to rampant speculation and untrained opinion! The reality is that the best time to sell is a combination of when you are ready to and when there are as few as possible houses like yours on the market. This may not be the answer you were looking for, but knowing this will save you a lot of time and ensure you take a more discerning and strategic approach to when to sell your home.
The key considerations are timing and presentation. What does that mean? Well… timing is more about your individual situation than the market in general. Presentation is about the overall appearance of the property and how great it will look in all the advertising and promotion your estate agency will be coordinating, to sell your house for the best price possible.
How urgent is it that you sell the house? Is it going to disrupt family plans such as year 12 exams, or an overseas trip? Does it make sense to sell while your mother in law is staying for 3 months or will that put unnecessary stress on the situation? Do you have the time to commit to the process now or would it be better in 6 months, when things have settled down a bit at work?
Selling a home is not a huge job but it does require a mental commitment, as well as some of your dedicated time, especially for things like presentation and showcasing for inspections. The decision about when to sell should first be based on your own schedule, or the anticipated needs of the family unit in the expected time period; and secondly be based on what kind of properties are currently on the market and how they compare to yours. The ideal is that yours comes across as unique at the time, driving the price up, due to lack of other properties of its standard on the market.
To achieve the results you want, the house must be presented at its very best throughout the sale process – from the marketing materials, to the open inspections and auction day, if applicable.
Some gardens don’t always look their best in late summer; particularly in Australia’s dry conditions so waiting until mid-autumn might be better. A property may radiate dream home vibes on a clear sunny day, but if it’s spring and every 3rd house in your area is on the market too, then the timing defeats the purpose.
There’s also the interior to consider – can you manage to finally sort through all that junk in the spare room in time? Does your sale time mean that painters and tradesman will be traipsing through the house while 4 kids are cluttering up the place on school holidays? Are you going to need to bring in some rental furniture for the period of time the property is on the market, and is this within your budget?
The short answer to the question about when to sell is don’t believe the hype. Find a local agent who is experienced and knows your area well. They can advise you on any improvements that might benefit your sale price, and information that will contribute to the timing of the sale if works will be required. Get up to date market insights from them and advice about the most strategic time to sell based on your circumstances.
What to Expect When Selling Your Home
The best laid plans can and often do go awry, and when it comes to selling your property sometimes even the most finely tuned strategy can fail in a buyer’s market. If your time to sell is now and you’re struggling to get the results you want, maybe it’s time to revisit the plan, make sure you’ve checked all the boxes and get yourself ahead of the competition with a different strategy. Here are five tips to get you back on track.
1. Understand the market
When there are a lot of properties and competition is tight for the ideal buyer, you really need to know what buyers are looking for to make sure you’re offering the goods. You also need to know what’s happening in the market you’re in so you’re not missing out on any key strategic moves. It doesn’t hurt to play buyer yourself – get some subscriber alerts from your favourite property search engine, with search criteria that match your property, and keep track of what’s selling and why. If a house in your neighbourhood that fits the same criteria as yours sold and yours didn’t, try to find out more. Pay attention to which agencies are selling the most houses – maybe there’s a hot new agent on the market and they are the key to sales success. If nobody else is selling at least you know the problem isn’t you. But if buyers are overlooking your property and buying others with similar attributes, then you almost certainly need to change your approach.
2. Validate your price point
In the process of researching the market you will get a sense of how other properties with the same criteria as yours are selling and most importantly – what the average price point is. Initially you would have had a property appraisal done and then talked at length with your agent about the ideal price point. If your property has been on the market for a while, it won’t hurt to revisit this discussion with your agent. This is especially important if your appraisal was done many months earlier in a changing market. Your property value may have dropped compared to others in your area, but more importantly an appraisal almost always comes with details around how the appraisal figure was reached. Within that detail you may discover some feedback that you can address to improve your property and your chances. Dropping your price is not without risk, depending on your situation, as is pulling your house from sale to try again later, so discussing tactics with your agent is absolutely vital. The one certainty is that every home find a buyer but only when it meets the market.
For a free market appraisal contact Jake on 0424 942 194 or email Jake@stylere.com.au
3. Lock in the best agent
The first two steps may lead you to to think that maybe the agent you’re using is not actually the best person for the job. We all discover our agents in different ways – through an internet search, a tip from a friend, or a flyer in the mailbox. Sometimes, it’s not until you’re actually in the game, that you realise your coach is the one losing it for you. Seeing other properties like yours sell and matching that success with others from the same agent, can be a clear indication that you have the wrong person on your team. We’re certainly not suggesting you should double down and get another agent in addition to the one you have – you need to get out there and find the best agent possible and lock them in, when your agency agreement has come to an end!
4. Bring out the bells and whistles
If you’re serious about selling your home, it’s assumed you have taken a professional approach to its pre-sale preparation and marketing. This means cleaning up and landscaping outside, repainting and repairing everything that needs it, getting a professional home stager in to make the house look its best – from rugs and sofas to fresh flowers and baking bread – and a photographer to capture high quality images of all of your hard work.
If you have then you need to take things up a level. Many real estate agencies just write their own copy in house for property listings and sometimes – shock, horror – it’s simply a cut and paste from previous listings. There’s nothing that says you can’t write it yourself, or hire a professional copywriter to write something unique and powerful that will capture the reader’s attention. Using other visual mediums too, can be extremely effective. Innovations could extend to drone footage of the local area (particularly useful if your property is in a scenic location), 360 degree images of living spaces or gardens, virtual tours of the entire property, panoramic shots that take in the full scope of the property or its views, or a video walk through with an inspiring and motivating audio track. Sometimes, you just need to re-organise the photos, change the ‘hero’ image that appears in search results, and make it look fresh again.
5. Roll out the perks
Just as buyers can prepare themselves to be the successful bidder, vendors can also offer some perks that make their property a little sweeter proposition than the others. Simple things like offering flexible settlement terms and evidence that all necessary inspections have been done are certainly appealing, but maybe a few perks might come in handy too. Keeping your gardener on to mow the lawns once a month for 6 months at your expense might be useful, or throw in some of the existing furniture in the sale as a bonus – who doesn’t love a free TV or an extra drinks fridge after all? It’s all about differentiation and not getting stale.
How to Maximise My Sale Price
As a property owner your single focus is to get the highest price for your property on auction day or to sell it prior above your reserve price. Follow this checklist to make sure you can maximise your house or apartment sale price.
- Turn on all the Lights
A well-swept driveway and front porch creates a stunning entryway, but it is the warm glow of the lights that make this house so inviting. Turn on all overhead lights, lamps and even the lights above the stove to have your house looking its shining best, especially in dreary winter months.
- Add Pops of Colour
Whether it is fresh flowers, a bowl of lemons or other brightly coloured fruit, this is one detail that brings a home to life and makes buyers fall in love with a property which can lead to them bidding a higher price. Yellow or red flowers in the kitchen are good choices to make this hub of the house feel cheery and bright. If you’re going for fruit, stick to a uniform colour rather than a mixed bowl, and ensure every piece is unblemished.
- Get the Windows Professionally Cleaned
Squeaky clean windows are an absolute must on open-house day, and not just because they make rooms look well-maintained. The pollution, dust and grime that accumulates quickly on windows also blocks out a surprising amount of light.
A professional clean will have your home looking fresh and bright.
- Splash Out on Bedding
Take care how you make your bed on open day – the right bedding can give a luxurious edge that carries through to what a buyer thinks the house is worth. Coordinate pillows and cushions with sheets, quilt covers and the valance, and add a fabulous bed runner fit for a five-star hotel. Be sure to iron every item that’s on the bed for that polished finish.
- Create a Feelgood Atmosphere
If it’s even the slightest bit chilly outside, light the fire or turn on the heat to a comfortable temperature. Nothing says home quite like the cosiness of a fireplace. On warm days, throw open the windows to welcome in the breeze. Achieving a high selling price involves ensuring your buyers feel an emotional attachment to your home.
- Don’t forget About the Outdoors
Weeding, tidying and trimming the garden ready for an open house goes without saying, but to get potential buyers imagining themselves using the outdoor space, you need to make it as inviting as possible. This outdoor courtyard has been made all the more special with the simple addition of some silk cushions and a platter of oranges. If you have garden lighting, be sure to turn it on to give the space interest and dimension. Buy outdoor cushions and pillows.
- Banish all Clutter & Personal Items
Remove all but the most essential decorative items from each room! Make the house appear more spacious to get the highest auction price! You might love your children’s drawings and that postcard you got from your best friend stuck to your fridge door, but these kinds of personal details only serve to distract a potential buyer. They need to imagine themselves in the home, so completely clear the fridge of magnets and all they hold, and take down any photos from all other rooms in the house.
- Bring Order to Toys
Convincing children to keep their rooms tidy is one of the biggest challenges for parents trying to sell a house. Children’s rooms will probably be the last you check before the real estate agent arrives. Arrange soft toys, align books in shelves, and hide away all but the most visually appealing items. Rolling up rugs can also show off beautiful floorboards and make rooms appear larger.
Good luck on auction day to achieve the highest selling price for your property!
Meet the Team
Peter Elisseos - Principal
Mobile: 0430 188 188
Peter grew up in the West End/Dutton Park area, and has a genuine passion and enthusiasm for the locale and surrounding suburbs. He has an understanding of its multi-cultural environment and has enjoyed seeing the district flourish into a bustling hub. Against a colourful backdrop of restaurants, cafes and fashion to excite all, it has an authentic cosmopolitan feel. With over 20 year's sales experience, Peter is a dedicated professional who undertakes new and diverse challenges in a strategic way. Peter uses his skills, knowledge and experience to maximise sales growth and build relationships and has an energetic, motivated approach to real estate. His training with the Australian Institute of Management in 'Communication' and 'Leading and Developing People' has enhanced his career, resulting in an improved outcome for his clients. Peter's negotiation skills help create high value results for clients, whilst he builds trust and integrity with purchasers alike. He is a thinker and planner who, because of his analytical perspective, may come up with alternative creative ideas. Peter has excellent client service skills and works effortlessly to ensure their total satisfaction, with a commitment to giving the client feedback throughout the whole sales process, keeping them fully informed and ultimately closing the deal. He is a driven individual who has established a reputation for honesty and integrity.
Jake Redfern - Property Consultant/BDM
Mobile: 0424 942 194
Jake’s passion for people and real estate began back at the age of 13 when he volunteered at a real estate agency in his homeland of the United Kingdom. Having completed his Bachelors Degree in Urban Land Economics (Commercial Real Estate) he started to pursue a career in Commercial Sales and Rentals.
Before travelling to Australia and establishing his new home here in the Sunshine State, Jake gained valuable experience and further insight into the industry whilst being employed at CBRE as an industrial letting as well as assisting in other departments such as Marketing, Sales and Client Relations. Once Jake made his way to Brisbane, he began a career in Residential Property Management whilst also assisting in Sales alongside the Principal. Having over 6 years experience as a property manager, he has a breadth of knowledge which aids him in bringing on board our valued clients for both rentals and sales.
Jake can be best described as enthusiastic, determined, friendly and a reliable team player and has now been with First National Real Estate Style for 7 years. Jake is determined to continue providing valuable information, communication and assisting all of his clients with the best advice for property management and sales.
Find Out What Your Home is Worth
What is a Property Appraisal?
A property ‘appraisal’ is an estimate of the likely market value of your property by a qualified real estate agent, based on their expert opinion and local knowledge.
How do I arrange a Property Appraisal?
Once you have decided you would like a property appraisal, you should contact a local agent you know and trust to request it. Alternatively, you can request a free appraisal through the First National website by calling Jake on 0424 942 194 or emailing Jake@stylere.com.au.
What is involved in a Property Appraisal?
Once the appraisal has been arranged the agent will visit your property and inspect it, using their expertise and knowledge of the local area to give you an educated opinion. The agent will factor in specifics about your property such as current condition, any additions or improvements, local zoning, parking and any other local factors that may influence the market and consider these in their estimate also.
What Does a Property Appraisal Cost?
A property appraisal is free of charge in most cases. It’s unusual to be charged for an appraisal so, if a fee is discussed, it might be worth reconsidering and finding someone else. Keep in mind that the appraisal process has a purpose for the agent – to hopefully sell your property. It’s important to keep this in mind when choosing an agent and make sure you find one who you feel confident has your best interests at heart.
When is a Property Valuation Necessary?
Your home loan broker or bank will need a valuation before your mortgage application is approved to buy a property and settlement occurs. Property valuations are also required for divorce settlements, when refinancing or if the property is a deceased estate.
What are the Advantages of Property Appraisal?
Property ownership is a huge investment initially and on an ongoing basis. Unless you have an estimate of your home’s value from year to year, how will you know if you’re constant re-investments are actually paying off? The advantage of property appraisal is that you benefit from the advice and expertise of a real estate professional to give you a reasonable estimate of your property, and always have a sense of your position in the market.
First National Real Estate Style agents provide property appraisals for all existing and new clients