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Little Known Secrets
That Will Improve The Sale Price Of Your Property
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Our promise to you Since 1988 we have strived to provide the very best real estate service in Sydney to the many property buyers, sellers, investors and tenants who call on us for help and advice each week. This booklet and the advice it contains is part of that promise. We hope you enjoy the content and profit from the experience. Remember, our offices are open 7 days a week to help you with any real estate matter so be sure to call us if you think we can help. You'll find contact details for your nearest Prudential Real Estate office on the back page of this booklet.
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Title 3 Little of Booklet KnownHere Secrets jyp
Have you ever noticed two properties for sale in the same street ?
incidents are caused by the vagaries of the moving marketplace.
In Sydney's western suburbs, it's often the case that construction companies build whole streets of homes (sometimes whole suburbs). Often these homes share many similarities - on the outside they appear different, but inside they are often very much the same.
Is this so, or is it possible to exert a measure of control over the final sale price of your property ?
So, when two homes come up for sale in the same street the average observer might reasonably expect that these two homes built by the same builder and sharing many similarities, might sell for much the same price. Sounds reasonable, doesn't it ? The problem is that sometimes these two homes sell for quite different prices What is it, then, that causes one property to sell for more than another - especially when two homes are very similar ? What was it the owner of one property did (or didn't do) that caused their property to sell for more ? Or maybe, what was it that one agent did (or didn't do) that caused one property to sell for more than the other ? Whenever questions like these arise, we tend to shrug our shoulders and tell ourselves such
What can you do, as a property owner, that might help increase your sale price ? Over the years, we have had countless occasions to ponder these very questions. We've scratched our heads, we have watched what successful property sellers have done and we've negotiated the sale of thousands of residential properties. In the end we've concluded that there are, in fact, dozens of successful tactics you could employ to maximise the sale price of your property. But by far and away the 3 most successful methods are those that follow.
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Presentation is everything
On the surface, this "secret" may be stating the obvious. That is until you understand the secret that lies beyond the obvious. In the first instance, we all know that we should do everything we can to improve the presentation of our property before we list our home for sale. Here's what you may not know . . . 1.
Focus your attention on the kitchen and the bathroom. If you want a real return on your money invest your time (and a little money, if you wish) improving the look of these two rooms. Be aware, however, of the danger of overcapitalisation. Don't fall into the trap of installing a brand new kitchen immediately before you list your home for sale. But an investment in time, elbow grease and a little money on these two rooms should show a handsome dividend when you sell.
2. Clean up your gardens - this means weeding, pruning and generally tidying up the appearance. Your front garden especially is where you'll make your first impression with any buyer - make it a positive first impression by ensuring your garden looks dazzling. Once again, be careful of spending too much - don't bring in a landscaping team in the week prior to listing, but consider filling those "empty spaces" in your garden beds with cheap flowering
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plants from the local nursery or Big W. 3. This is the most important point - don't just think about improving your presentation, don't just talk about it DO IT ! So many people we have spoken with over the years have said "Yeah, I'll get to that next weekend" or "I'll clean up that mess well before we list the property" and then don't do anything. At the end of the day there's no "secret" to this "secret" - if you want to improve the sale price of your property then you must actually do something positive about the presentation of your property - and do it well before the first buyer comes along.
Oh, and one other thing, if you feel you may not be able to think objectively about your own home ask a trustworthy friend to take a look. Ask them to look at your property like a property buyer. If they were a buyer what would they want to change or improve ? You might be surprised what little, easy to change things your friend might point out for you. And isn't it better to have your friend point these things out rather than a buyer. Remember, when a buyer sees something lacking in your presentation they usually begin to see less value in your home and this then could lead to a monetary loss when you enter into negotiations with a buyer.
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Secret #
Create An Optical Illusion
Somewhere deep in our unconscious minds we all share similar core beliefs. For instance, as a general rule we all believe that a more expensive product is a better quality product. Now, in the real world this may not be true in all cases, but essentially, we all believe such things to have an element of truth about them. When it comes to houses, we tend to believe that larger homes sell for more than smaller homes. And in the main, this is true. Wouldn't it be good if you could enlarge the size of your home just before you put it on the market for sale ? If you could do this wouldn't your home sell for more ? Wouldn't buyers pay more for your home because it was larger than a similar home ? You're right ! As a general rule you should get more money. But how do you do this without going to the cost adding an extension ? Easy - empty your home of many of your belongings. Have a look around your home. Over the years, you have probably collected lots of knick-knacks, extra pieces of furniture, kids toys, luggage, boxes of extra "this and that" that simply take up room.
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When you remove all the unnecessary items from each room you give the illusion of space - suddenly your home will appear larger than before. Yes, it's an optical illusion - but it works. Buyers will see your home in a different light and that will translate into extra cash in your sale price. So, if you want to seriously improve the sale price of your property here's what you do - and it shouldn't cost a lot - in fact, you may make money in the process. 1.
Strip each room systematically back to the bare essentials. If you don't need it, get rid of it.
2. Next, have a garage sale and sell everything you have stripped from each of your rooms. But be ruthless - if you don't need it, get rid of it. And don't worry about selling it - remember the old saying "one man's meat is another man's poison" 3. If there's anything left you may need to organise a Kennards storage garage until you move to your next home. You can often hire a half-garage at places like Kennards or Millers, which are not terribly expensive. Remember the less "clutter" in your home the better the sale price. So, be ruthless and you'll not only improve your chances of a better sale price you'll have less to pack when it comes time to move.
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Secret #
Think For Your Agent
Let's use a little logic. When your home goes on the market you'll probably list it with an agent (be sure to choose the most successful agent in your area - it generally costs no more to have the best). All agents are required to remember the positive features of dozens of properties at the same time. Often this means that when they are showing your home to a prospective buyer they can inadvertently fail to mention all of the positive features of your home. Failing to mention all of the positive features of your home to a purchaser who may be willing and able to buy could cost you a sale or perhaps the chance of selling at the highest possible price. OK, so it's simply human nature to expect that your agent might not be perfect, that he or she may fail to mention one or two points when showing your property. Even so you can probably imagine that failing in this area could cost you money. So, it goes without saying that if you could figure a way to prevent such failure, to eliminate human nature, you'd end up with a better sale price. Here's how !
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Firstly, no one knows your home better than you do. So, let's take advantage of this fact and spend some quiet time before you list your home with an agent to work out why a buyer might be interested in purchasing your home. Try and think of 10 Reasons Why A Buyer Might Buy Your Home. What is it about your property or its location that would interest a buyer ? Are you close to transport, shops, schools, etc ? Do you have handy features in your home that a buyer would find useful ? Are there valuable aspects of your home that cannot be readily seen by a buyer ? Write our your reasons and give them to your agent. Ask your agent to include your reasons in a brochure that can be handed out to every buyer who inspects your property. In this way, you will have cheated human nature by ensuring that every buyer who inspects your home is informed about all of the positive features of your property. It's very important that you make this list yourself - don't leave this job to your agent. You and you alone know the best reasons why a buyer might consider buying your home. And if you can put those thoughts into a buyer's head you will have increased your chances of a sale at a great price.
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And finally . . .
There are many ways to improve the sale price of your property. Most are things you can do yourself before your property is listed for sale. If you are considering selling your property we would recommend you obtain another of our SPECIAL REPORTS entitled "73 Quick & Easy Fix-ups To Sell Your Home Faster And For More Money". This report contains the finite list of all those things you can do to improve the sale price of your property. You can obtain this report by phoning our office 7 days a week and leaving your details with one our customer service operators. They will be happy to post this report to you within a few days.
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FREE REPORT
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Send an email to freereports@prudential.com.au today for your copy of this valuable report Find out more about our property services at
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Recipients of this report are reminded that, although due care has been taken in the preparation of the within contained material, prospective property buyers, sellers and investors are always best served by making their own independent inquiries before entering into any real estate transaction. This report has been prepared for the sole and exclusive use of Prudential Real Estate clients and customers. The whole of the contents and design are protected by copyright. COPYRIGHT Š Michael O'Sullivan 2001-2015
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