It can be daunting to sell your home at the moment, as financial risks heighten due to COVID19. However, with the help of the right agent and the insightful guidance they will provide, it is a very achievable goal.
Follow these seven steps to make sure you get the most out of your property sale:
- Engage the experts
- Sell on your terms
- Pick the right method of sale
- Prepare your home
- Activate strategic marketing
- Define an inspection strategy
- List your home
1. Engage the experts
Your local real estate agent is the first person you should discuss your potential sale with. They are experts about the local market because they’re watching it so closely for any changes, making them the most informed advisors on your sale. They can also keep you up to date on any COVID-19 restrictions in the real estate space.
The most pertinent market trends are often suburb-specific. For example, in some markets there has been a buildup of demand for certain property types, so finding a buyer won’t be a challenge.
Avnu agents have the upper hand for gaining in-depth information on the market, as they receive daily data updates about new listings, sold listings and price adjustments. They are some of the most educated agents in the market and always use their knowledge to a clients’ advantage.
You can chat to your local agent on the phone and, when you’re ready, receive an appraisal via video call. If you’re not confident in video calling, don’t worry. Our agents can coach you through this process. They’ll provide you with advice on how to prepare your property and selling strategies to implement. They will also let you know what options you have as a homeowner during this time.
2. Sell on your terms
We know that it’s “business as unusual” for the entire world at the moment. It’s important to remember that sellers can alter parts of their contracts to ensure that the sale terms are well-suited to them.
This includes making changes or concessions to your contract. These could be requesting a longer settlement period or renting back the property after you’ve sold it. Concessions are really useful adjustments for vendors who need to exchange their property quickly. Determine what concessions you might need to sell your property in this uncertain time and then discuss this with a solicitor.
3. Pick the right method of sale
When selling your property, you can do it by private treaty, auction or expression of interest. The best method depends on your circumstances, your time-frame for selling, buyer demand, location and property type.
Auctions, which are now being held online, are the fastest way to sell your property on average. Private treaty and expression of interest methods take a bit longer, but they do allow for more negotiation and personalisation in the sale.
Your local agent is the best advisor on the most suitable method of sale for your property. Discuss your needs with them and they will find a solution that’s right for you.
4. Prepare your home
It’s always so important to present your home in the best light and even more so now, as buyers will be viewing the property online.
Styling is not currently possible due to social distancing restrictions. However, this shouldn’t stop you from making adjustments to your home to prepare it for sale and ultimately, attract the most buyers.
Decluttering can completely revitalise your home, so begin with this. You could also rearrange your furniture or add a fresh coat of paint to your walls.
Avnu agents may not be interior decorators, but they do have extensive experience in preparing homes for sale. They also regularly hear buyer feedback on property styling, so they have great advice about appealing to potential buyers.
5. Activate strategic marketing
Avnu agents are recommending several marketing approaches at the moment. The strategy chosen will have a large impact on the sale, as buyers increasingly use the internet to discover properties at the moment.
One marketing strategy is to really focus on online and social media marketing. With more people staying at home, internet usage has skyrocketed and social media platforms have seen a large increase in interaction rate. realestate.com.au has also recorded an increase in property views since the start of the year.
Now is a fantastic time to have a strong online presence when marketing a property. At Avnu, we are using all the tools at our disposal to digitally market properties in the best possible way. This includes property videos and 3D property tours for our buyers, so that they can get a real understanding of your home without having to leave theirs.
One of our properties is currently running a strong online marketing strategy. Look at 48 Frances Road, Putney, to gain a better understanding of how a digital strategy looks and how it could work for you.
Another strategy being used by agents at the moment is off-market sales. This means your property will not be advertised on the mainstream market, which will significantly reduce costs. It will only be advertised to a database of eligible buyers through 3D tours and property videos.
It is also possible to implement elements of both strategies to market your property to buyers. Your agent is the best advisor on what the property needs for marketing.
6. Define an inspection strategy
Whilst private inspections are still allowed, we are asking comprehensive COVID19 qualifying questions to both buyers and sellers. Even though private inspections are possible, they are not necessary if you feel uncomfortable.
At the moment, we are recommending 3D tours and video tours of properties to allow buyers to continue to view your property regardless of the circumstance. There are known success stories of property sales with buyers never physically setting foot in the property.
Your inspection strategy should mostly be driven by what you feel most safe and comfortable with. Talk to your agent about your options and they can advise you on the best steps forward.
7. List your home
After going through these steps, you will be well prepared to put your property on the market. Even in the current circumstances, you will have the best chances of securing a fantastic deal.
Speak to your local Avnu agent about the next steps and tailoring this model to your property. You can also discover what other sellers and buyers are doing in your area, using the Avnu Property Report.
DISCLAIMER – The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. LJ Hooker Avnu will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.