What makes a property saleable?

Having been in the real estate industry for over two decades now, I have seen, funnily enough, a great deal of other people’s homes. They have all been in various degrees of condition in terms of how they present, from shining new industrial ‘fortresses’ to dilapidated but charming old cottages. I do firmly believe that regardless of the quirks, condition or location of a property, somewhere out there will be the right buyer for it.

At CENTURY 21, our agents receive extensive training on how to connect the right people with the right property. Not only that, they’re local experts who have generally spent a great deal of time in the local community, so have to knowledge, expertise and contacts to find an excellent buyer for your property.

However regardless of this, there are obviously a lot of things a vendor can do to help shift their property quickly. A property that is well presented is also more likely to command thousands more than one that is run down and just not showing its full potential. It is basic sense that the better something looks, the more it will be considered worth. Here is a list of a few things to consider when presenting your property for sale: 

1. Consider your target market: You agent will be able to help here.  Present your property to suit potential buyers and try to understand their needs. For example, retirees often seek low maintenance outdoor spaces and easy access. 

2. Clean and De-clutter:  Every surface needs to be cleared of personal belongings, leaving only a few decorative pieces. Clean the home thoroughly, to be sure it looks as bright and possible, and make sure any odours are taken care of.  

3. Address faults and important issues:  Fix any cracking, pest damage, unsafe wiring, broken windows, etc - anything that puts buyers off. Be sure to use  

4. Consider the season: In warmer weather, make sure the air conditioner or fan is on, allow a breeze through and make the most of outdoor spaces. In cooler weather, make the house warm and cozy with rugs and throws, keep cool breezes about and light and fireplaces. 

5. Minor = Major: Minor works such as repainting, making cosmetic updates to bathrooms and kitchens, or turning the old shed into a living/work spaces can result in major profits. 

6. Redecorate and Reap Rewards: Think about repainting and possibly using professional property stylists. Use light, neutral colours, and modernize your home with new fittings and decorate touches such as cushions, vases etc.  

7. The Great Outdoors: Tidy up your outdoor areas, and consider brightening them up with some pot plants or garden features.

Property presentation is a large part of marketing your property. The way that you view your much-loved home of fifteen years is actually quite different from the way prospective buyers view it. Not to offend, but what is charming and homely to you (the brilliant DYI wallpaper collage job you did in the bathroom, your Star Wars memorabilia collection, your incredibly talented offspring’s paintings) may actually be quite horrifying, and potentially off-putting to buyers. They need to be able to imagine it as their own space – as an inoffensive, neutral, clean canvas in which to bring their personal touch, in order to fall in love with it. And that’s going to be quite difficult if it’s full of all of your accumulated ‘stuff’. 

Sometimes it is better to delay a sale, and do a bit of a makeover to help increase your sale price. Sometimes, this is not the case. There is a right time for every sale – and sometimes it’s immediate! So many factors come into play – the state of the economy, how quickly you need to sell, house prices in the area, which is why it’s important to have an agent on hand who is a local expert. It’s their job to help you achieve the best price possible for you most important asset  - your home.

If you’d like a free guide to real estate, which goes into more detail about how to present your property to achieve maximum sale price, please send your request to askmarketing@century21.com.au  who will promptly email you this great guide.

Posted by Reality Bytes - Real Estate Training Blog on 26/10/2009 at 3:50 PM | Categories:

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