Contrary to some media conveying “the bubble is bursting” sentiment recently, the strong demand for property in our regions is continuing.
The only thing that has changed in recent weeks is that we have seen some resilience from buyers to any perceived over pricing. Buyers seem to have a firmer view of what they are prepared to pay for a given property. Behaviour like buying a property sight unseen, or submitting a high pre-auction offer to try and take out any competition has decreased. This slight shift is bringing back a culture of well informed buyers, purchasing properties for prices that they believe are fair. This has to be a good thing.
However, well presented and well marketed properties are still selling strongly.
More commonly though it is what has occurred prior to the sale that has changed. Sellers who are realistic, have taken on board the buyer feedback during their marketing campaign and are aware of this slight change in the market are still achieving great results.
In a market like this, we thought it would be good to share some tips on what can make a real difference to your sale price:
1. Share all the information with potential to buyers
Supplying potential buyers with a copy of the property title, the LIM report, a recent builders report and even receipts for any work done on the property can all make a difference. Not only does this give buyers a good picture of what is behind the appearance of the property, but it sets a good level of confidence and goodwill. If you have nothing to hide, make it known, be an open book.
2. Broaden your marketing campaign
The salesperson selling your home should offer you a range of marketing options and ideas that will help maximise the exposure of the campaign. Make sure they are thinking outside of the “real estate box” and looking at channels like Facebook and PR to drive real interest. It is horses for courses, but a good real estate salesperson will have some useful information about the type of potential buyer and where they may come from. We are seeing huge interest in our regions from Auckland, Wellington and Christchurch, but also from overseas. People from Australia, UK, US and Asia are all visiting the EVES website in their hundreds each week.
3. Provide a great first impression
Help potential buyers love your property the way you do. Show it in its best light.
- Let the light shine in. So easy, yet so effective. Maximise the natural light entering your home by cleaning windows, having curtains, drapes and blinds open and pruning trees.
- Make your home inviting. Clean all entryways, buy new front door hardware, remove excess furniture, board pets and get rid of odours. If you really want to make your place feel homely, get those inviting smells going by baking some muffins in the oven and have that freshly brewed coffee aroma in the air before open homes or inspections.
- Mow, trim and re-sow bare lawns, remove all debris, secure fences and add colourful plants and flowers.
- Furnish with love – Some buyers may lack imagination when it comes to an empty home. Many people can’t visualise where or what furniture would look good or be practical in a space. This is especially important when selling a vacant home. Buy, hire or borrow a few items to fill the emptiness and give your home character. To take it to the next level, decorate the house with fresh flowers and remove personal items. For the next level of result consider hiring home staging professionals. The effect can be outstanding.
6. Repair the broken stuff
- Before showing the house make sure the obvious things are fixed.
- Fix all defects to light switches and overhead lights. Replace plumbing fixtures that are not operating as perfectly as they should.
- Take a look at your kitchen and bathrooms. Make the most obvious improvements first. If necessary, replace damaged tiles and bench tops, repaint, or touch up cabinetry.
- Keep floors clean at all times. If necessary replace worn out vents and patch, repair or replace flooring.
- Make sure all doors open and shut well.
- Replace or clean carpets - if carpets are not faded or damaged, consider shampooing to improve smell and appearance.
7. Touch ups
Give special attention to garage, front doors and window and door frames and blistering paint. Tired fences, holes in gutters and downpipes, missing tiles on the roof etc should be attended to. Remove dirt and mould from pathways.
Consider removing dated wallpaper, whitewashing dark paneling, having leaks, watermarks and cracked ceilings repaired.
It may seem like a long list, but it is worth it. A recent example of following these ideas through, saw a great result for one of our Hamilton sellers. It's worth noting that this is a normal house in a typical Hamilton suburb. The sellers set a realistic reserve that reflected feedback from potential buyers and recent sales data. The house was tidy, the touch ups were done and it was ready for sale. A broad marketing campaign meant there were a wide group of buyers, both local, national and international. A professionally delivered auction saw bidding go a phenomenal 44% above reserve. An awesome result!
We want a result like this for you too.
If you are thinking of selling, talk to us for more information and guidance on what will make a difference to your sale. Ask one of the EVES team about our free appraisals - click here to find your nearest EVES office.