Canberra house prices are currently at a record high, despite COVID-19. Corelogic data shows the average dwelling value increased 6.3 per cent in the past year including 0.7 per cent for the last quarter, so it’s not a surprise that savvy vendors are choosing to sell their homes this winter before a glut of properties hit the market in the annual spring selling season.
But while buyers may have fewer choices than they’d like at the moment, that doesn’t mean their standards have dropped.
First home buyer Amy McIntosh says, “We want to buy now. The timing is right for us. Our jobs are secure, we have a deposit and we want to take advantage of the government support that’s out there for first home buyers”.
“But we also know that if the right property doesn’t come along, we can wait.”
Unfortunately, some vendors think that because it’s a seller’s market, less effort needs to go into the preparation of the property.
Independent agent Matt Peden has a warning for sellers: “Regardless of what the market is like, it’s crucial to make your property as appealing to buyers as possible. There are certain things that will turn a buyer off and that could significantly impact the selling price of your home”.
So what are the major turn-offs that could be bringing your sale price down?
“Picture this,” Matt says, “you’re going to an open home to check out what you think will be your dream home. As you walk in the front gate creaks a little.
“No big deal, right? A little WD40 will fix that. Then you go through the front door and the first thing you smell is tobacco smoke. Further inspection reveals cobwebs and dirty skirting boards and the entire time the vendor is watching you like a hawk. Are you really going to be racing to sign the contract?”
While it’s always best to use an experienced real estate agent who can advise you on the best way to present your property, sometimes you might want to go solo. Regardless of your choice, you should still be informed of the things that could turn your sale into a fail.
“Bad smells like pet odours, cigarette smoke and general mustiness, as well as unkempt gardens and litter or clutter around the property – inside and out – are little areas that can make a huge difference to the overall appeal,” Matt said.
“You might also like to check small imperfections such as chipped paint and cracks around the property. Cleaning up mould and mildew could also be a benefit.
“Leaving too many personal items around the house also makes the list, and whilst it may be hard to control, noise such as barking dogs or noisy neighbours can leave a bad impression.”
An agent’s conduct can also make an impact on your property’s presentation. If a buyer feels like they’re being ignored or mistreated by the selling agent, this can really turn them off a purchase.
“It might be something as simple as perceived rudeness or as complicated as some form of misrepresentation,” Matt explains.
“Choosing the right real estate agent, one that can quickly build trust with buyers, could be the difference between a good sale result and a great one.”
Then, there is the negative influence of friends or relatives. Perhaps your presentation was flawless and the open home went perfectly, there might still be some buyers who get turned off once they start sharing the properly listing with their family and friends. Suburb reputation, opinions about the floorplan or block size can all come into play here.
“A good agent will talk to interested buyers about their needs during the open homes and can counter this negative influence before it starts. When an agent understands what a buyer needs in a home, they can highlight all the strengths of the property and suburb,” Matt says.
Common sense is king when selling your home. If you wouldn’t buy it, that’s probably a good indication that others won’t want to either. A little effort can go a long way in presenting your home in its absolute best form – and working with professionals will greatly assist.
You can get an instant online property appraisal, which will give you an indication of what your home could sell for – no strings attached.
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