10 tips for a successful property sale

The spring selling season is here, meaning thousands of Australians will be thinking about listing their home for sale. Laing+Simmons real estate agent Costa Charalambous provides 10 tips for a successful spring or summer sale.

Charalambous, the principal of Laing+Simmons at Coogee and Clovelly in Sydney, says the following tips will help sellers achieve the best price for their property.

Start now
“Starting early gives you enough time to check out the market and do a bit of research on what you can do to enhance your property’s appeal,” Charalambous says. “Moreover, with more time on your hands, you can make small renovations if your agent advises it.”

Get a minimum of two market opinions
“The first step is to bring in a registered valuer who’ll be able to give you a valuation price based on comparable sales. Your valuation will help you to assess which agents are more familiar with your market by the price they give you compared to the valuation price. The good agents will also be able to advise you of any renovations required, however small, which will maximise the equity of your home.”

Get a property inspection
“Choose a building inspector who’s highly recommended and has good credentials, such as a master builder. That $500 inspection report can also give you more power as a seller and alert you to any problems before an agent or buyer does. You can then eliminate potential hurdles in a sale, for example blocked guttering, which can be fixed before marketing commences. This eliminates a potential buyer from bringing this up as a major problem, or turning a $500 problem into a $5000 one after settlement.”

Repaint
“This is one of the fastest and easiest ways to update your property and increase your equity,” Charalambous says. “Go for neutral colours: these are better received by most buyers.”

Update your kitchen and bathroom
“Arguably the greatest profit potential is in the ‘wet’ areas of your home. A new kitchen and bathroom could double your outlay in sales,” Charalambous notes, although he says owners should get an agent’s advice before renovating. “Even a new benchtop and cupboard doors can add thousands in return,” he says.

Maximise floor space
“An airy, open layout is better received by buyers than small rooms cramped with furniture. Declutter each room and remove any excess furniture. Floorboards or light-coloured rugs can make rooms look larger.”

Make an effort in staging and presentation
“Add a little detail to highlight certain rooms to make them more alluring to buyers. Set the dining table, and place flowers in the living room to bring summer and spring inside. Beware of overdoing it, and leave a bit to the imagination for buyers.”

Get the right agent
“Ask to see your agent’s sales portfolio and find out the results they achieved for properties that are similar to yours. Sign up your agent two to three weeks before you’re ready to sell, not two to three days before. He or she needs time to photograph your property, develop the ads, book the ads and get editorial for your property. The more editorial you get the better.”

Know your target market
“Not all properties are one-size-fits-all. You’ll have a better chance of getting your property sold for the price you want if you know which buyers your property will attract,” Charalambous says.

Market cleverly and deliver as promised
“Make sure the marketing communications is tailored to your target market. Exploit the best marketing streams you can afford – online listings are a must. Lastly, ensure your property delivers what your marketing promises.”