When preparing to sell your home, you will no doubt receive advice from well-meaning friends, family, and real estate agents! Some of this advice may be informative, but the property industry can be full of myths when selling.
With a lot of time, energy and money being invested into the sale of your home, you want to make sure you are receiving honest advice. How do you know what to believe and what to dismiss?
Watch the video, as Joanne Danckwardt of One Agency JD Property Agents sheds light on some of the common myths of selling that you should not believe.
If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.
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Myth: You don’t need to pay for advertising
When it comes to selling your home, budgeting for a diverse marketing campaign is one of the best investments you can make. Coupled with online advertising, including the latest innovations and technology when marketing, make use of For Sale signs, brochures to present at open homes, property videos, and where appropriate, printed property listings in local or national publications. The goal is to throw the widest market net, bringing in as many buyers as possible. The more potential buyers for the property, means a higher level of competition, and the possibility to be able to achieve a higher selling price. It always pays to give your home the maximum exposure across a variety of channels, in any market.
Myth: Go with the cheapest agent
Commission is the fee you pay to a real estate agent when they sell your property. It is one of the largest costs associated when selling your home. Look beyond what just what an agent charges in fees and commission. Look at their past sales history, experience and market knowledge to see if they are the right fit for you. When discussing fees, if the agent is a good negotiator, they should be able to prove their value in the service they provide for the commission being charged. If they can prove that they have excellent negotiation skills, this will give you confidence knowing they will be able to negotiate a good sale price on your behalf. Research your agent choice thoroughly and ask questions to the agent when looking to sell. Experience, performance and knowledge, along with outstanding negotiation skills count for a lot when choosing a good agent to sell your home.
Myth: Go high on listing price
The theory of setting a high asking price and then negotiating down for buyers is flawed, as it comes with the risk of turning buyers off from day one. Creating interest from the beginning of your marketing campaign is key. Setting an unrealistic price means the property will be overlooked. Pricing your home to sell means taking into account what other properties have sold for your area. To obtain an accurate estimate of what your home might sell for in the current market conditions, arrange to have a property appraisal conducted by a real estate agent. A real estate agent with good market knowledge and whose appraisal provides you with an accurate market price are more likely to be acting in your best interests. Pricing your home realistically is essential to allow interest from interested buyers.
Myth: Wait until spring to sell
While Spring can be a busy time in the property market, that does not necessarily mean your home won’t sell in the colder months. In fact, as many people hold off selling until Spring, this means less homes on the market for sale. Buyers will look for their ideal property year-round, so Autumn and Winter can mean less competition for sellers, meaning the potential for a higher sale price to be achieved due to lower stock. There is always a demand for property, so don’t put it off if you feel ready to move.
Myth: Not all real estate agents have access to Sydney buyers
All good real estate agents in the Illawarra should have access to a large pool of potential buyers, including Sydney buyers. A good agent will be an expert at marketing their properties to the target audience, making use of some excellent marketing techniques through the latest innovations and technology, that have a far-reaching audience – including Sydney and out of area buyers. Examples of superb marketing skills an agent should possess are promotion on social media platforms, utilising email campaigns to their database to reach out to past buyers who may be interested in a new purchase, SEO optimisation, video creation, content marketing, creation of floor plans, and paid advertising on search engines to ensure listings are highly visible in the digital landscape. Skilled real estate agents are adept at understanding the specific needs of their clients, which allows them to better showcase the property they’re selling.
If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.
YES, DOWNLOAD MY CHECKLIST
If you feel you could benefit from our experience with buying and selling, we’d love to hear from you. Simply reach out. We hope that has helped you today. If you have any questions, or you know of anyone who may benefit from our real estate services, we’d love to chat. Our number is 0426 264 771. We look forward to talking to you soon.
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Mar 15, 2024
Choosing the Right Real Estate Agency to Sell Your Property: A Guide for Landlords
There comes a time in every investor’s journey where they consider reducing their property portfolio to either free up some capital or reduce debt. This question is probably best answered by your Accountant. And although marketing a property for sale, whilst continuing to receive an income from rent is very appealing, there are a few extra considerations to take into account when you have a renter in place and you are thinking of selling. As a landlord considering selling your property, one of the most crucial decisions you'll make is selecting the right real estate agency to represent you. With various agencies vying for your business, it's essential to weigh your options carefully to ensure a successful sale. One common question landlords often face is whether to stick with the company already managing their property or explore other options. 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