Selling your home - What you need to know

Selling your home is a massive undertaking and can be a very stressful time. No one wants to let their home languish on the market getting no offers:

  • The carrying costs can be a massive financial burden, especially if you have already purchased your new home.
  • The burden of trying to keep your home in pristine condition and ready for those last minute showings can be exhausting.
  • The longer the home sits on the market the more prospective buyers start to think, “Something must be wrong with it.”

When you list your home on market you want it to sell quickly and for the best price.  To get top dollar for your home you need to:

Understand your market

  • Research recent sales in your area to get a better sense of your homes price range.
  • Identify your competition. Use real-estate websites to get an idea of how many homes, of a similar size and price, are already on the market in your neighborhood?  Are they in good condition? How do they present compared to yours?

Understand your prospective buyers

  • 9 out of 10 Australian buyers are doing their preliminary house hunting online
  • Buyers can not see past your clutter and mess, only a rare breed of buyers can visualize and see the potential.
  • Most buyers today are time poor working full time trying to juggle the hustle and bustle of everyday life so when shopping for a home they are looking for homes that are ‘move-in ready’ with nothing to do.
  • 40% of an Australian buyer’s income is now made up of mortgage repayments, so buyers are naturally more critical of flaws and imperfections and will quickly knock thousands off their offer price.

Understand your Realtor

  • Many Realtors will not tell you things about your home, in fear they may offend you and loose the listing.
  • Once your home is listed, if it sits on the market for a period of time, with little or no interest from prospective buyers your Realtor will naturally recommend to reduce your asking price, if you do the maths this price adjustment changes their commission by very little. So a 10,000 price reduction might not mean that much to them, but it surely does to you.
  • Seek out Realtors that see the value in Home Staging and presenting your home properly from the beginning.

As the Vendor you have the most to gain from your home’s presentation, but at the same time you also have the most to loose, if your home does not present well, it can very well mean that thousands will be knocked off your asking price.

To learn how to create a home buyers will fall in love with, subscribe here to get Staging Doctor's Top 7 Staging Tips---Free

You are here: Home Selling a Home What you need to know