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 For most of us, selling our property is one of the single largest financial transactions that we will ever undertake. Couple that with the fact we may only go through the process a couple of times in our whole lifetime, it is no wonder that sellers frequently remark on how stressful the experience can be. Last year I was asked to give some advice to a couple that had been trying to sell their house for 12 months without success. They had purchased the recently built property almost 2 years prior, it was a lovely house in a great location, and they simply could not understand why they were not receiving any offers. Frazzled by the constant demands of keeping the house inspection ready and disheartened by not being able to move on with the next phase of their lives, it was time to see what we could do.  Firstly I recommended that they have a frank discussion with their agent. In so many cases I hear that the advice provided by agents in terms of pricing & marketing strategy is ignored, only to prove later to have been correct. In this case, a minor adjustment to the price range was implemented in a bid to attract buyers in different segments of the market. After inspecting & assessing the home and noting the feedback provided to the agent at earlier inspection, I was also able to recommend a course of action, which mainly centred on decluttering and re-purposing space and minor décor alterations. Everyone was thrilled when seven weeks later the property was sold for a price at the top of the original price range.  For most of us, selling our property is one of the single largest financial transactions that we will ever undertake. Couple that with the fact we may only go through the process a couple of times in our whole lifetime, it is no wonder that sellers frequently remark on how stressful the experience can be. The key to minimising this stress & achieving the outcome you desire is as simple as getting the right advice. The greater the level of our inexperience, the more we can benefit from the experience of professionals in the area. Just as we would not go to the doctor already armed with our diagnosis, it would be foolhardy to attempt to sell one of our most valuable financial assets whilst ignoring the feedback of those who know and understand the industry and are vastly more experienced than ourselves. Ensuring that your property is fully prepared before it is placed on the market is absolutely vital to the success of the sales campaign; however, exactly what that preparation should entail is as individual as the property itself. Establishing for ourselves what needs to be done, what the priorities should be, or what a maximum budget should be, can be accomplished to a certain extent, but it is often difficult for us to look at and assess our own property objectively.  So, whom can we look to for advice in these areas? Building Inspector Having a building inspection completed prior to placing the property on the market is advantageous, as the report provided could be used to identify areas that need to be addressed, prior to being advertised for sale. The report can then be revised to remove the items addressed, or the original report provided along with evidence of completion of works to potential purchasers. "Having a building inspection completed prior to placing the property on the market is advantageous..." Many purchasers would require an inspection to be completed as a condition of their offer anyway and having the report prepared in advance removes the potential for any surprises and provides potential purchasers with a greater level of confidence, which translates to better offers. Real Estate Agent Just as when engaging a tradesperson to complete works, it is always advisable to speak with several real estate agents prior to deciding whom should handle your listing. These discussions should be used to gauge not only the anticipated value of the property & suggested marketing strategy, but also to seek advice as to what preparations are recommended before going to market. We must remember that real estate agents have a huge amount of knowledge about what is available to purchasers, what buyers are looking for in a property, standards of presentation and various other insights specific to your market, all of which can benefit you greatly. "Real Estate Agents...insights specific to your market...can benefit you greatly..." Ask each agent to provide you with a list of what they recommend you do to prepare your property for sale and beware the agent who tells you that nothing whatsoever is required, as in my experience, even the newest or most palatial of homes require some tweaking to present to their best advantage for sale purposes. Property Stylist/Home Stager Property Styling or Home Staging professionals are in the business of ensuring that properties are presented to appeal to the broadest section of the purchasing market possible. They are experienced and knowledgeable about real estate generally, as well as interior & exterior design trends. "Home Staging professionals...provide strategies to overcome problem areas." They can help identify a suitable target market for the property, the best features of the property and any areas that need to be addressed and can advise on how to appeal to a particular market segment and highlight specific features provide strategies to overcome problem areas. Remember, you only get one shot at selling well, so it pays to prepare well at the start. What do you think? What are your top three concerns about getting your property ready for sale? Please share them in the comments. Related Posts Selling Your Property - The 1 Month Rule
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AuthorJo Powell is the Director of 3 Pea's Property Styling. Combining her creative skills with her accounting background to assist her clients to achieve the best possible outcomes in the sale of their property. Archives
February 2020
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