Whether you are selling your family home or a property that forms part of an investment portfolio, you want to get the best possible price you can. But don’t jump in the gun and put it on the market before you have carried out a bit of pre-preparation as the offers will be slower to start rolling in. A property that sits on the market becomes stable. Purchasers question why it has not been sold assuming that there is something wrong with it. To make sure that this does not happen to your work through the following checklist:
5 Questions to ask yourself ahead of marketing.
1. Is the price right?
Probably the most common reason a property does not sell is the price. Pitched too high and there is no hope of generating any interest. A property is worth what someone will pay for it, and buyers are able to be market savvy with the aid of the Internet. The price should reflect the property but if you are in a hurry to sell quickly then you will most likely need to consider taking a slightly lower offer to free up your capital.
2. Have you chosen the right agent?
A good real estate agent will be able to guide you throughout the whole sales process. They will be able to advise on its value to ascertain the right marketing price particularly if purchasers are negotiating that influence achieved prices. Additionally, agents can provide information on works that need carrying out and give invaluable market news to help with your sale. Finally, a proactive agent will have an active list of purchasers that they have lined up to view the property.
3. Is the property ready?
Properties that present the best will inevitably look better in the photographs and will excite people more during a viewing. This does not necessarily mean a complete refurbishment but a quick coat of paint can immediately freshen up a property (Read The Project Reviews) especially in a modern tone. Decluttering and tidying up will go a long way in first impressions.
4. Is now the best time?
Typically the market goes in peaks and troughs throughout the year. The quieter periods tend to be around popular holidays. Your agent will be able to advise of the best time to start marketing your property as you may want to push the marketing date forward or back.
5. What is the competition?
Have a look to see what your competition is. This could be other units in your building or a neighbouring property that is comparable to yours. If there is a glut of properties available naturally this will make it harder to sell yours. Therefore, it is even more important to make sure that the price is right and your property is well presented. You want to be ahead and on top of the game.
Stay abreast of the industry’s news and updates sending directly to your inbox, sign up here.