When it comes to selling your home, homeowners are aware that there is plenty involved to get the right seller over the line. In reality, there are three main areas that sellers need to consider – price, presentation and promotion.
At Belle Property, we use the right combination of these three areas to help your Inner West property sell faster.
The most important element to selling your property is price. As a general rule, if the price is too high, savvy buyers will give it a miss. If the price is too low, they’ll wonder what is wrong with the property.
While you will have done plenty of research before settling on a price, most buyers have done the same; before going to open homes or contacting agents for inspections, serious buyers will have done their research, know what else is on the market, and know what similar properties have sold recently and how much they have sold for.
For vendors, setting the price can be a complex process. There’s the matter of what other properties are selling for as well as whether you have debts you need to repay. Let’s not forget the emotional factor that often comes into play when selling the family home.
Working with your agent, if you have already appointed one, is the best way to come to a solid market price. Your agent will have done their research on what similar properties are selling for and what buyers will be willing to pay and can give you a clear idea of what you can expect when it comes to a sale price.
Along with the price factor comes the presentation. If the house next door sold for $500,000, but your similar home is presented much better, you can likely expect a higher price. Presentation matters to buyers ‒ they want to walk into a home that is clean and clear of clutter, allowing them to get a good idea of how the home will look with their own belongings.
Before putting your property on the market, spend some time getting rid of items you no longer use or need, old appliances, clothes you no longer wear, toys the kids have outgrown and so on. Also consider what your property looks like from the footpath ‒ what we call the kerb appeal. Consider updating your garden, washing the exterior of your home, and repainting fences if needed. Ensure you keep your lawns and gardens maintained and clean while the property is on the market.
The final area that relates to the presentation of your home is ensuring that it is clean prior to any inspections or open homes. Most buyers will understand that you are still living in the property; however, ensuring the home is clean will go a long way towards making your home appealing for buyers.
The promotion or marketing of your property is the last key element to selling your home faster. It is essential that the marketing of your home stimulates buyer interest. This means utilising professional photography, advertising on the relevant websites and perhaps even doing letterbox drops depending on what the market is doing in your area at the time.
While many vendors consider paying as little as possible for advertising, it is well worth considering where potential buyers are looking for homes, and hitting that market.
You’ve heard of FOMO, or the fear of missing out. Let us introduce you to FOOP ‒ the fear of overpaying. With increasing interest rates, as well as the general cost of living, FOOP has entered back into the market recently and it is causing buyers to make more cautious decisions, as well as take their time over whether to offer on a property or not.
This domino effect is lengthening the time that properties are sitting on the market before they sell.
Can we help with your Inner West home?
Whether you’re ready to sell or need help to rent your investment property, we have the experience and local knowledge to make your property journey easier.
Looking for help selling your home or renting your investment property? Our team at Belle Property Balmain support homeowners across Balmain, Balmain East, Birchgrove, Rozelle and Lilyfield. Feel free to get in touch for a no-obligation discussion or property appraisal.