1.Decide if you need to sell before you buy or the other way round. If you buy first negotiate a longish settlement of around 2-3 months to sell your home which then includes your own home settlement process. Often I see people unsure of what to do at open homes and they miss the opportunity to secure their dream home and climb up the property ladder.
2. Get an appraisal of the value of your home or a registered valuation before you start hitting the open home circuit. You can then make informed decisions if you see your new home.
3. Choose an agent that knows the area and one you can trust if the going gets tough. Appointing your agent by the lowest commission can lead to regret further down the track. Consider choosing your agent by their local knowledge, level of service and integrity- after all this is your biggest asset. What is the agent’s office like? How many top agents are there? How effective is it? What’s the collective buyer power of the agent’s colleagues?
4. Clean, declutter, garden and then declutter again. Less is more. Remove personal memorabilia. Good photos need space and light. If you’re able to afford it, ask your agent for arborists, gardeners, and painters etc. to take some of the load off.
5. Set a realistic campaign time. Long campaigns are counterproductive- you lose buyers as they buy other properties. 3 to 4 weeks to auction date is more than enough. Auctions by nature are a little stressful, but the process can be enjoyable and at the same time professional. Tenders attract conditional interest and are suitable for only certain homes or land. Price by Negotiation is counterproductive for buyers and diminishes enquiry rather than enhancing it.
6. Get a building inspection. If you’re worried about any water egress issues, get a building inspection before your campaign starts and rectify any issues. I see many contracts fall over or buyers lose interest based on a poor building inspection when they were very keen before. Have your agent encourage buyers to get their own building inspection, and not to use yours as this could be a conflict of interest and the buyers will be sceptical.
7. Don’t spend large amounts on advertising. There is a way to access the market more effectively with traditional media and social media and online applications. I use
complimentary video to help get the message out. Video is 80x more powerful than the printed word.
8. Pre Auction offers should not be considered until at least the second week of the campaign. You need to have at least one weekend of open homes first. You need effective agent feedback on buyer feedback and values. Allow other buyers at least 2 to 3 full working days’ notice to get ready if the auction is brought forward.
9. Consider partially home staging your home;it’s cost effective and can make a huge difference in presentation. Consider moving out till auction day if you have other accommodation. It means agents can bring buyers through easily and the house is always perfect. You can then have a lock box on your home. The more people who come through your home the more chance you have of securing that happy premium price.
10. Set your price. There is a buyer’s price and there is your price, most of the time the market price is between those two figures. Check over the local sales, go to open homes and study the comparisons your agent has given you. It’s natural to include an emotional component in your home’s value, after all you have loved and nurtured it for years. However buyers base their decisions on a connection with your home and compare the value in the market place