Believe it or not there are many similarities between Baking a Cake and Selling a Property.
To make the perfect cake you need the ideal mix of quality ingredients, combined with the hands of a skilled expert. The Recipe for what we perceive as the perfect Sale, is no different.
Cooking Up a Sale
Combine the above using the hands-on skills of an agency with 20+ years of industry experience and you have yourself everything needed for a great result. At JKL we believe the difference between selling your home for a price and a premium price is highly influenced by the preparation you put into getting your property ready for sale. The good news is that it’s not hard, or expensive, but it is an important skill to master.
Preparing your home for sale
The second your home hits the market it will be competing for attention.
“Your home is being marketed in competition to many other homes within your market place, not in isolation”
As a seller, your word or asking price are simply not enough. With your property, potentially being worth hundreds of thousands of dollars, it's worth the time and effort to get it looking great. It is a well-known fact that presentation is directly related to selling price. A well - styled property can create instant attraction with potential buyers and help form that emotional must have connection with your home. This is because they mentally move in and can see themselves living in your home. The emotional 'must have' buyer is the ideal candidate for achieving a premium selling price for your home. (Click here for our 101 DYI Style Guide)
There is nothing wrong with shooting for the stars when pricing a property. It's okay to go for gold and try for a dream price. Where sellers can get themselves into trouble is when that dream price is too ambitious for the current market and the lines become blurred between the “Emotional Value” of the home and the “Estimated Selling Price” provided to them by the Agent. As a Seller the golden window of opportunity to gain the momentum needed to sell your home is in the first 30 days. From this point forward buyer uncertainty slowly creeps in with questions being asked like “What’s wrong with this house” or “Why hasn’t this sold”.
With this in mind it is critical to take all feedback on board from the buyers and your agent in the first 10-14 days while you're still within the golden window period. Remember that competitive market pricing is the fastest way to attract multiple offers and competing buyers which is every sellers dream!
Method of sale
When it comes to selling your property, there are three popular methods to choose from:
- Private Treaty (For sale with an asking price or price range)
- Public Auction
- Public Tender (All offers are placed in a sealed envelope and submitted to the agent by a certain date)
Each has its own advantages and it is advisable to speak to your agent about the benefits of each method. We have successfully utilised all three methods; however we have found sale by Private Treaty (price) to be the most effective method for properties located in the Forster-Tuncurry and surrounding suburbs. Auction is effective in the event of there being difficulty in clearly determining the value of a property and if it looks like there may very well be a lot of buyers competing for the home.
We communicate with our buyers year-round. However, it is no secret that our local and surrounding area is most active in the tourist seasons (September through to March) with many holiday makers and potential buyers flocking to the area for their sun and saltwater fix. That said the cooler months can also be a wonderful time to sell. With historically less stock coming onto the market through this period, your home may have the advantage of less competition and in turn, increasing demand and appeal from buyers. Through 20+ years of experience our agents are overly familiar with the seasonal trends and can provide you with all the expert advice you need to make an informed decision on the best time to launch your property for sale into the market.