Speak to anyone who has experienced the process of selling real estate and often their findings are a combination of stress, disappointment and ultimately compromise. One of the many goals of Peter Barnes Real Estate is to ensure your experience selling your home or investment property is a positive one.
The preparation you put into getting your property ready for sale can be the difference between getting a standard price and a great price. The best part is, it's not hard, time consuming or expensive and your personal sales consultant can guide you through the process.
Determining Your Property's Market Value
In order to determine your property's value, our sales consultants will first arrange an appointment with you to view the property in its current condition in order to determine its standing in the market. We will also take the opportunity to note any improvements that could be made to increase the market value of the property.
Our sales consultants have access to property sales data which is used to compare properties which have recently sold in the area. When assessing market value our sales consultants will compare 'apples with apples' to ensure an accurate market value figure, taking into account any improvements you have made to your property and any properties currently on the market which buyers will use as a comparison.
Where a property is tenanted or may present an opportunity for interest from property investors, our sales consultants will liase with our specialised rental department to determine the potential price an investor would pay for the property based on rental returns for the area. This figure is also taken into account when determining market value.
Choosing a Method of Sale
Determining the most apropriate method of sale for your property is dependent on the location of your property, your personal preferences and your sales consultant's experience on the most successful method of sale for your property type. The most common methods of sale for Melbourne's inner suburbs are by Auction or Private Treaty.
If you submit your property for Auction this means that prospective purchasers will bid against one another at a date and time suitable to you. You can set a reserve price, which is the minimum you will accept, and once bidding has passed that level you know you have a sale, as it will be unconditional and a predetermined deposit must be paid on the day ...more on the Auction method
Sale by Private Treaty (Private Sale) means that you market the property for sale to the public without a set date of sale. With this method you can determine the pace of the selling process which creates further room for negotiations with prospective buyers. At Peter Barnes Real Estate we avoid advertising a set price to the public, we find that this method can result in buyers offering their best price rather than an offer that is less than the vendor's asking price.
Attracting Prospective Buyers
Buyers for a property can be found all year round however it's not often that a purchaser for your home is out there, just waiting for you to put your home on the market.
Timing, presentation and advertising are all required to bring buyers and sellers together for the best result. Prior to placing your home on the market, allow an additional two weeks to prepare both the property and the marketing material.
Spring is often considered to be the best time to sell. It's a time of optimism and with the weather clearing, more potential buyers will be out and about. It is also a time when more sellers will put their homes on the market so there will be more competition. Winter usually presents fewer buyers, but the buyers are usually more focused on purchasing and traditionally there will be fewer homes on the market to choose from.
A carefully planned and well executed marketing campaign is paramount to achieving the best sale price. Your personal sales cosultant has the knowledge and expertise to tailor a marketing campaign specific to your property and buyer demographic. Video tours of properties have proven one of the most popular and cost-effective marketing tools in recent times.
Presenting Your Property
A buyer's first impression of your property will be a lasting one, so the preparation you put into getting your property ready for sale can be the difference between getting a standard price and a great price. The best part is, it's not hard, time consuming or expensive.
Your personal sales consultant will guide you through specific aspects to improve the impression your property will leave on prospective buyers, as well as providing tips and assistance in arranging repairs to improve the property prior to marketing for sale. We've prepared a basic guide on Presenting Your Home for Sale which presents general advice as a starting point for sellers.