4 Tricks of the Selling Real Estate Trade to Help you Sell for More
Selling your home can be an exciting time, but are you aware of the best ways to make profit?
Here are 4 tricks of the selling trade from cost effective changes you can make to your home, easy ways to dress your home up and tips on marketing your property for the best results.
Helping you make the most from your property
Building the Value
Are you aware of the best ways to make a profit from selling your home?
The potential that real estate holds as a money-making venture can be seen in the total worth of dwellings in Australia, which according to CoreLogic RP Data has now breached $6 trillion. To put that in perspective, if you managed to save $50,000 every annum, it would still take you 120 million years to top $6 trillion.
In light of this, how can you increase your microscopic slice of this substantial pie? Here are 4 tricks of the selling trade to help.
If you would like to increase the profits from your sale, there are a number of renovations that can add disproportionate value. This means they take less from your wallet than they add to your home's price tag.
Doing a bit of DIY is certainly nothing new to our country. A report from IBISWorld forecasted that yearly expenditure on renovations from Australians will exceed $60 billion by 2017.
Some cost-effective changes you can make to your home include:
- According to Sustainability Victoria, the kitchen is commonly considered one of the most important rooms in your home. If you can't afford a complete overhaul, simply replacing the fittings and any handles can significantly modernise the area.
- What red-blooded Aussie doesn't take the backyard into consideration when buying a home? Having a nice deck or entertaining area can provide a real point of difference.
- A coat of paint is undoubtedly one of the most cost-effective forms of renovating your home, especially if you do it yourself. Renovating for Profit's Cherie Barber asserts that while it can cost you less than $2000, the pay off is in the tens of thousands.
- No one likes waiting to use the loo during the morning rush. Having an additional bathroom or toilet could prove to be the clincher when selling your home.
Think of it as an investment that has the ability to supply incredibly short-term gains.
Choosing the Value
Determining a price for your home can be an extremely hard decision, as you have to find a neutral ground between the market and your ambitions.
If you set the price of your home too high, it's very unlikely that it will sell and you will have to stump up the payments for an extended campaign. On the other end of the scale, if you fix the price too low, it will most probably sell but you will miss out on potential crumbs of the $6 trillion pie.
To get a precise and up to date idea of how much your home is worth, you can study recent market reports and blogs to see how much money similar homes in your area are garnering.
Alternatively, a real estate agent can offer their impartial opinion of the value of your home, based off their knowledge and experience of the local market.
Dress Up Your Home
It's important that your home is looking its Sunday best for any inquisitive buyers during an open home. Here's some of the basics, courtesy of the Real Estate Institute of South Australia:
- Clean until it is spotless, with not a hint of mould, grime or cobwebs
- Open all the doors and windows prior to the viewing to air out your home
- Remove all clutter, as this can create the illusion of space
- Open up all the curtains to allow natural light in
- Display fresh and vibrant flowers around your home to add brightness
And for first impression's sake, you can't forget the exterior:
- Mow the lawns
- Tidy up the yard space
- Pull any weeds and plant some bright flowers
- Wash all windows
- Sweep any paths
Marketing Your Home
This is where it can really pay to have an expert on hand. As well as photographing your property, this can involve drawing up a floor plan, writing an enticing description, determining a target market and the most suitable forms of advertising.
Using a real estate agent will also allow you to market your home via their agency social media channels, website listings, word of mouth (with other agents and clients) and mail flyers.