SECRETS OF GETTING THE TOP PRICE FOR

YOUR PROPERTYIndustry Expert Megan Bruton

1. Hire the Best Agent

Professional agent with a track record of successThe number 1 way to ensure you get the best price for your home is to hire a professional agent with a track record of success. Many sellers make the mistake of using the agent that gives them the lowest fee. That is a false economy and may end up costing you a lot of money.

A good agent will bring in the most qualified buyers and will negotiate the highest sale price for your home. If a low cost agent gets you a low sale price, then it was a bad investment and that ‘cheap’ agent ends up costing you the most money. Good agents are in demand and they generally charge more – that is because they get results and you end up with more money in your bank account in the end.

Do a research

To find the best agent for you, ask friends and family who have recently bought or sold property, which agent stood out? Do research on which agent/agency is selling the most homes in your area. Go to open houses and make online enquires about current properties on the market. Which agents follow you up after the open houses and respond to your emails.

You want a professional, pro-active agent to represent your property. Once you are considering an agent, get a list of recent clients you can call as references. Find out about other people’s experience with your preferred agent. A little bit of research will help ensure you are hiring the best for your property.

2. Curb Appeal

Prior to putting your property onto the marketPrior to putting your property onto the market, you need to have a critical look at the way your property looks from the curb. Buyers will be making decisions about your home from the second they drive up.

■ Garden: Now is the time to get the gardens in shape. Mulch garden beds, plant seasonal flowers, trim hedges and make sure any grass is looking good.

A critical eye on the exterior paint■ Paint: You will also need to cast a critical eye on the exterior paint. Are

the current colours contemporary and well maintained? If you are thinking of changing the exterior colours, working with a colour consultant is a worthwhile investment. If you are happy with the current colours, make sure it looks clean and well presented. Pealing, poorly maintained paint will tell the buyer that the house is not well cared for. Fix up all maintenance issues prior to putting onto the market.

■ Pressure Clean: You also may want to consider cleaning the pathways and exterior with a high pressure hose to rid it of any dirt and mold.

■ Windows: Clean, sparkly windows lift the exterior and let the light shine into your home.

3. Interior Paint

Impress others

One of the best ways to transform a tired house is through fresh paint. New paint acts like a well wrapped gift – people will be impressed! Picking light neutral colours is best. Fresh paint makes the buyer think the property is well maintained. Again, working with a professional colour consultant is worth the investment.

Interior colour schemes make a huge impact to the appeal of your home. If you get the colours wrong, it will impact your potential sale price. For example, beige colours are now dated – buyers are looking for more neutral whites and cool grays.

4. De-Clutter

Buyers want properties that feel light filled and spacious. Before you put your home on the market you need to do a serious edit of the amount of ‘stuff’ you have around the house and in your cupboards. When selling your house – Less is Best! Organize your cupboards and pantries. Yes, buyers will look in them!

Also take away excessive furniture and personal nick-knacks. Clean surfaces and rooms that are easy to move around in will be inviting to buyers. Remember, your personal taste may not appeal to others. So you need to de-personalize your home and ensure that buyers can imagine themselves living there.

5. Clean – Clean – Clean

Make sure your home is spotlessBefore you launch your home to the market you need to make sure your home is spotless.

■ Bathrooms: Clean and bleach the grout in your bathrooms. Make sure all surfaces are sparkling and it smells fresh. Declutter large unsightly shampoo and soap bottles. Get new, fresh towels for the bathroom.

■ Kitchen: Now is the time to clean the oven and organize the pantry. Wipe down all the cabinets and clean backsplashes. Buyers notice when things look unclean and will think your home is not well cared for. This will affect your price.

Carpets, Floors & Windows

■ Carpets & Floors: Now is the time to have the carpets professionally cleaned and deodorized. If there are unsightly stains that can’t be removed, you should consider changing the carpets. Like paint, updated floor coverings make a big difference. Tile and wood floors should be cleaned and repaired if needed.

■ Windows: Windows should sparkle inside and out. Dirty windows restrict light and make the property seem unkempt. Clean windows are a cheap and easy way to improve the look and feel of your property.

6.Interior Styling

An investment that pays you backAs the property market becomes more competitive, more and more sellers are turning to professional stylists to help them present their properties for sale. Owners can work with stylist to help bring their current furnishings together in a more cohesive way. Other sellers choose to professionally stage their property for sale which entails bringing in hired furniture and accessories. I cannot overstate the power of presentation. A well styled property can command a much higher price. I am constantly amazed how little imagination buyers have. They cannot see past a property’s choice of colours and furnishings.

While styling a property can be expensive – I think it is an investment that pays you back. Buyers who enter a styled home get seduced by its presentation and they are more likely to look past a home’s disadvantages.

7. Marketing

Now that your property is ready to launch to the market, you need to make sure your agent has designed a marketing program that is right for your home.

■ Professional Photos: Most buyers look online and decide which property they want to inspect. You need to make sure your photos are of a high standard and they will entice buyers to choose your home as one they want to inspect. If your home is near water or the City, you may want have drone photography to have aerial view of your property.

■ Floor Plan: One of buyers’ biggest complaints is when a property does not have a floor plan. Floor plans help buyers imagine living in your home.

Print Advertising:

■ Print Advertising: Most buyers now look online when they are looking for property. Print advertisements are becoming less relevant. If your property will appeal to a downsizer, you may want to consider investing in print advertising in local papers. The older generation still likes to search for property the old fashioned way and look through their local paper. I also recommend print advertising for high-end properties that will appeal to out of area buyers. If your home is going to attract to young families or professionals – I would not recommend print advertising for your home.

Online:

■ Online: Since most buyers search for property online, it pays to have your property featured on the main online real estate portals. Most of these websites charge a higher price for your home to be featured as a premium listing – but it ensures that your property will come up higher in buyer’s search of your suburb. If you don’t pay for your property to be a feature listing, the websites will put your property last on the list of properties for sale in your suburb. This is a huge disadvantage. Online advertising is getting more and more expensive – but it is a necessary investment.

Professional Brochures:

■ Professional Brochures: Good brochures sell properties. Generally buyers look at several homes in a day. Once they leave the open house, details about the property can fade. When they get home, buyers usually go back through the brochures from the open houses. A good brochure will use quality pictures, have a floor plan and give buyers relevant information about the property. The brochures will reinforce the positives of your property and will encourage them to keep your property in mind.

8. Price it Right

In real estate, time is money

The pricing of your property can make or break your sale. It is important that you set a fair and realistic price or guide price for your property. In real estate, time is money. If you set your price too high, your home will sit on the market longer. The longer a property is on the market, the less value it holds to buyers. Your property is the ‘hottest’ the first 2 weeks of the sale campaign.

Buyers who are actively looking in your area are regularly checking for new listings and making sure they come to the first open houses. If buyers see your property’s price as fair and reasonable, you have a better chance of multiple buyers pursuing your property. This helps increase your chance of a premium price through competitive offers or attracting multiple bidders at your auction.

A good agent will give you accurate informationA good agent will give you accurate information about recent comparable sales in the area. A good agent will also tell you a price you need to hear, rather than one you want to hear. You need to listen to your agents’ advice on price – because launching your home at an unrealistically high price will actually ensure you get less interest in your property. In many cases, too high of a price can ultimately give you a lower sale price and a longer time on market. I know you love your home and you may think it is the best in the area, which is why you need to rely on your agent’s professional opinion on price to guide you.

9.Method of Sale

Each sale needs to be developed based on the individual needs of the owner and the current selling conditions of the market. There should never be a ‘one size fits all’ approach to selling your home. In Australia’s major cities, auction tends to be the preferred method of sale. Most auction campaigns are 4-weeks in duration, which results in an auction at the end of the campaign.

Auctions are a good way to find out the true market price of your property, since buyers are competitively bidding for your property in an open and transparent way. Auctions are effective, because they create a sense of urgency by giving a deadline for the sale and people need to compete for your property.

Auctions are not for everyoneAuctions are not for everyone. Some people who are more private in nature and they don’t feel comfortable with open houses and an auction where neighbors and strangers can view the proceedings. Also, some areas are not conducive for actions, since market conditions don’t support it. This is where a set price or a guide price can be best for the sale process.

Some prestige properties are sold by tender. This is where interested parties deliver a signed contract in a sealed envelope by a specific time and date.Again, each process has its benefits and you need to work with your agent on a program that works best for you and your property.

Premium prices are not by chance

Applying these strategies to your property sale will ensure you maximize the price your home sells for. Premium prices are not by chance and they come from a well-planned campaign and a well presented property.

Megan Bruton

Megan Bruton has been an estate agent in Sydney, Australia for over a decade. She specializes in prestige properties and works for BresicWhitney’s Hunters Hill office. BresicWhitney is Australia’s premiere property lifestyle group.