With current market conditions in WA favourable for buyers looking for a good deal, selling your home can take longer than if the market favoured sellers.
While you may be in a rush to sell your home, it's important you take the time to properly do the groundwork to ensure you get a sale price you're a comfortable with while also being realistic about market conditions and meeting buyer expectations.
We spoke to Director and Licensee of Duet Property who was the 2018 Top Assisted Salesperson by Value Sold reiwa.com Award winner, Michelle Kerr for advice on how to achieve a successful sale in a buyer's market. Find out her tips and advice to help you sell your home faster, during what can be an emotional and stressful period.
What are the first steps you should take once you've decided you want to sell your property?
Invite a couple of real estate agents from the area in to chat about where the home sits in the current market and what can be done to improve the chances of selling.
Ideally, you should research the area to identify the agents that are area experts as they will have the most accurate advice. It's always difficult to look objectively at your own home, so an independent viewpoint can save time, money and heartache.
Often clients spend money on things that don't need to be done and no money on the things that buyers are going to value. In a perfect world it's good to do this well in advance as home preparations always take far longer than we expect.
What can you do during the selling process that can maximise your chances of achieving a sale?
The sales process can sometimes take longer than expected and selling your home is always a time of high anxiety and worry.
I always ask my clients to treat the process as a project in which we are working as a team to achieve the highest sales price. If you work together and communicate regularly, you and your agent can make adjustments to quickly fine tune the strategy and achieve a sale in the shortest possible time.
What should you look for when choosing the right real estate agent to sell your home?
My advice is to:
- Go local: Make sure you research (online) the best agents in your area. There is no substitute for local knowledge and expertise. Most buyers are buying a lifestyle and local knowledge always wins out.
- Choose results: You are about to give someone the keys to your biggest asset, so make sure they have the runs on the board. There is a wealth of online information available to research who is doing the business and who isn't. Make sure you interview the selected agents about their results.
What do buyers look for when selecting a home?
First and foremost, buyers look for homes that are priced correctly. There is no doubt we are dealing with the most researched and informed buyers that we have ever known, and getting buyers to come to a home open is more difficult than ever.
Buyers are getting very good at pricing homes, and will deselect badly priced homes very quickly.
All of the other standard things go without saying, such as making sure you have a clean house, declutter etc, but ultimately the most powerful thing you can do is price your home correctly.
Do you have any other advice for sellers?
Make your home easily accessible - if you want to get the property sold be flexible and work with your agent.
This means being prepared for home opens on the weekend and allowing midweek inspections. Buyers work a range of different house so flexibility of viewing is key - one missed viewing is one missed opportunity.
Why home opens are important when selling property
Be receptive to feedback from your real estate agent. Your agent is your conduit to the marketplace and their honest feedback is necessary if you are going to get the house sold. Many sellers feel that agents are constantly angling to reduce the price, however, the vast majority of agents are dedicated to their clients and are focussed on achieving a successful sale.
If you are thinking about selling your home, begin your search for a REIWA agent in your area.