CHOOSING & WORKING WITH AN AGENT - ARTICLE 4 OF 9

Choosing the right agent is crucial if you want to get the highest price for your property with the least amount of stress.

Buyers have a choice – your home or someone else’s.

Your agent should be skilled, selling the positives of your property and, when necessary, selling the negatives of properties that are listed with other agents.

This does not mean your agent should mislead people. It means that your agent works for you and not for the other home sellers or their agents.

Your Reason

Be sure your reason for selling is confidential. No-one, other than the agent you trust, should know why you want to sell.

If the buyers know you have a pressing reason for selling, this could be used against you.

It is enough for buyers to know only that you want to sell. The reason is your business. Revealing it could weaken your position when you receive an offer.

The best agents will tell you how to give your property that special feeling that wins the hearts of buyers.

With the right agent, and with your property looking its best, you will always get the highest price.

The greatest problem facing home sellers is lack of information. Some people only sell a property once or twice in their lives. Even those who sell more often rarely have the experience or the information to know how to get the best price with the least risk.

Following are some things you should consider when selecting a real estate agent.  You will, it is hoped, notice that in none of these ways is it suggested that you select an agent based on who charges the lowest fee, or on who quotes the highest selling price to you...

This is the most dangerous ways to select a real estate agent.

Insist on a Guarantee

The best advice to any person thinking of selling a property is to insist on an iron-clad service guarantee – one that gives you the opportunity to terminate the agent’s services WITHOUT PENALTY if you are not receiving the service your agent promised you at the listing presentation

All agents will ask you to sign an agreement before you sell your property. But remember that you are being asked to sign their agreement. Many sellers bitterly regret signing that agreement with the agent.

The best agents will gladly GUARANTEE their services.

Avoid agents who do not offer a service guarantee.

Find an Agent you trust

If you don’t trust the agent, don’t hire the agent. A major ingredient in any relationship, business or personal is trust.

Before you choose your agent, ask many questions, check references, ask for a guarantee, test their negotiating skills and ask yourself a BIG question: Do I feel comfortable with this person handling the sale of (possibly) my greatest financial asset?

If your answer is “no”, do not hire the agent.

Once you decide on an agent, give the agent your trust and confidence. Do not interfere.

Allow the agent to make decisions and get on with the job finding the right buyer for your property.

If the agent later loses your trust, provided that you insisted he or she sign a guarantee, you can always dismiss the agent and find one you can trust.

The best agents are worthy of your trust. They won’t let you down.

INSPECTIONS & IMPROVEMENTS - ARTICLE 3 OF 9

During the Inspection

Although good agents like it if you meet prospective purchasers, they say that this reduces the risk of buyers making low offers – when the inspection gets underway it is best if you (and your dog) are not home.

Too many people in a property can make it look small – have you ever felt this at an open for inspection, when hoards of ‘lookers’ are squeezing past each other?

If you do stay home, do not remain in the most appealing room. Buyers will be conscious of their intrusion into your life; they rarely feel relaxed when you are in the same room.

Genuine buyers take their time to inspect a property, so give them plenty of time to savour the best rooms of the property.

If you trust the agent, let the agent stay with the buyers. And don’t expect the agent to point out all the obvious features.

Some of the best salespeople are silent when buyers are inspecting a home. The time for most questions is after the inspection, or if the buyers require a second or third inspection.

The Value of Major Improvements

If you spend enough money in making the property more attractive, you will usually make it easier to find a buyer.

But you need to find middle ground. It makes no sense if the cost of the improvement is too high – often it would be more cost effective to reduce your asking price. 

Most major improvements are personal and do not add the value you expect.  An example is a swimming pool.  If you pay $30,000 for a pool, the pool salesperson may tell you this increases the value of your property.  But if the buyers don‘t want a pool you will not get back what you paid.

Most improvements often return only half their cost upon sale.

You may have to wait years to find a buyer with the same personal taste as you.

If your property needs major renovation, it may be better to avoid the expense of renovation and instead select a lower asking price.

Many buyers want to renovate a property to suit their own taste.  While minor improvements can give you a great return on your selling price, major improvements are often a big mistake.

Either spend a little bit of money to sell your property or spend a lot of money to stay there.

Focus on Features

Your property’s features are its biggest selling point; price is secondary.  Sure, if there are two identical properties, then price becomes important. But most properties are unique and each has a special ‘feel’ that makes it more or less attractive than another property.

Even an apartment in a building of look-alikes can sell for a higher price if the owners give it that special touch.

This is why it is so important to focus on the features your property has to offer.  Why should someone buy it?  Make a list of these features and make sure your agent knows about them.

But no matter how good a property may be, as the seller you should steel yourself for some negative feedback. Selling a property can be a cruel process sometimes.

You may be told by buyers, via your agent, that the property is too small or too big or too old or too new, or that it needs too much work.

Buyers may point out negative features that you never considers, so it is vital that you give your agent ammunition to fight these negatives with a list of positives.

When people focus too much on the price of a property they tend to forget its features.  And this means you have to reduce the price or the buyers will choose a similar home at a cheaper price.

Almost all buyers make their decision based on the features of the property.  It could be something as simple as a tree on the front lawn.  Buyers buy properties they love first, and properties they can afford second.  Features are more important than price.  Focus on features.

Your Competition In The Market

Any market involves competition and your competition comes from two areas: similar properties to yours that are for sale, and from agents who compete with your agent.

The presentation of your property and the skill of the agent can mean thousands of dollars to you in the real estate market.

Your agent has to persuade buyers to inspect your property and to buy it in preference to other properties.

Now that you have your property presented in its finest light, it is now time to speak to real estate agents.

APPEARANCES - ARTICLE 2 OF 9

The Outside Appearance

First impressions create permanent opinions – so create a positive mood for all prospective purchasers.

Begin by sweeping the footpath in front of your property. Remove all rubbish from the gutters. Clear the letterbox of junk-mail. If you have a lawn, do your best to make sure it is not bone-dry. Green grass is appealing and a sprinkle does wonders to most lawns – a bit hard with water restrictions, I know!

If you have a gate, make sure it doesn’t squeak. If your front fence needs repair, it might be better to demolish it. If the buyers see a potential expense, they either won’t buy or they will expect a reduction in your price.

Clean the paths and the outside of your property to remove dust and cobwebs (close your windows first). And clean the windows so that they sparkle: few things are as ugly as dirty windows.

Make sure there is no paint flaking. You may not have to repaint, but at least scrape off any loose paint pieces.

Flowers do wonders for the front of a property; and the brighter the better. They create a homely look. You can get flowers for any season. Daffodils, pansies, petunias – go to the local nursery and ask for advice.

Buy flowers in pots if you don’t have much lawn, and make sure they are displayed in two places: near the street and near your front door.

You want buyers to fall in love with your property, so give it that loved look. At the front door, have a thick door-mat with ‘welcome’ on it. It sound corny, but it feels good. It is friendly; it feels like home.

Make sure that the screen door is working. Have a door knocker or a bell with pleasant chimes. If you have a door bell, make sure it works. If people come to your home in the evening, have a welcoming light on.

When buyers arrive, you want them to think, “This looks nice.” By the time they reach your front door, you want them to think, “This feels nice. I like it!”

Neat, clean and friendly are the first steps to making your home attractive from the outside.

Create an appeal that says, “Welcome. Come inside”.

The Inside Atmosphere

When buyers enter your property they should immediately feel at home.  The inside atmosphere should be warm and appealing.  One agent described it by saying, “A home should look and feel happily lived-in”.

Make the atmosphere natural and relaxed, even if it means changing (or improving) your living habits.  Buyers are aware of gimmicks such as a pot of coffee brewing, a cake in the oven or classical music playing softly in the background.  False attempts to add appeal have the reverse affect.

Genuine appeal is what wins the buyers.  A radio or a TV – never too loud – is a natural part of home life.  Well made beds with warm quilts and lots of pillows really make a property feel like home.  Home truly is ‘where the heart is’ and anything that increases the emotional feeling of comfort is something we all love.

Odours

Nothing turns people off more than bad smells, so be sure your property smells fresh.  You can buy plug-in fragrances that remove bad odours.

If you have pets, be careful, because their smell, while familiar to you, can be unpleasant to others.  Take pets’ blankets and bowls outside.  A dog that jumps up can be irritating and distracting, but not as bad as a savage dog that terrorises the buyers.

Wherever possible, remove your dog during inspections – take it for a walk.  And always, be sure that there are no ‘doggie surprises’ for your buyers to step in while inspecting the garden.

Bright and Airy

Make sure the property is bright and airy by opening the curtains.  Fresh air, if practicable, is always best.

If you have a fireplace and it is winter, an open log fire can be a big selling feature.  at the very least, make sure the property is warm in winter and cool in summer.

Try to remove clutter so your property does not look smaller than it is.  The time for a clean-up or a ‘garage sale’ is before you sell, not afterwards. 

Most properties have some natural untidiness – a book beside the bed, a newspaper in the kitchen or slippers on the floor – this is acceptable an expected.  What is not acceptable is dirt.

Make sure the bathrooms are clean to the point of sparkling.  Fresh fluffy towels add a warm feeling as does the sound of a washing machine or the sight of clothes blowing in the breeze on the outside hoist.  Atmosphere is everything.

The bathroom and kitchen is especially important to the woman, who is usually the major decision maker.

Minor Repairs

If there is any unfinished work inside the property – such as skirting boards that have been removed – fix these things.  If there is any obvious minor repairs – such as door handles missing or broken hooks – fix these too.  Repair all irritating things that are likely to catch the eyes of buyers.

Be very careful if you do any painting.  Painting one dull room can suddenly make other unpainted rooms look dull too.  Before you know it, you have a major painting job on your hands; this could lead to replacing the carpets, even the tiles in the bathroom.  Suddenly you are involved in a very expensive renovation.

The cleanliness and the mood are most important but all expense needs careful consideration.  Will you get your money back?

Ask your agent’s opinion.

The best advice is to do all you can to make your property feel like a home.  Make it sparkly without making it too immaculate or clinical.

Some sellers create a show-home.  In doing so, they create a cold sterile effect.  Homes with warmth are the most attractive and appealing.

THINKING OF SELLING - ARTICLE 1 OF 9

Over the next couple of months we will be presenting a series of articles that will help you achieve the highest price for your property in any market. I hope you find them useful and informative.

If you are like most sellers, the thought of selling your property can be daunting.

When it comes to getting the highest price for your property, these are the two things that, more than any others, will optimise your chances of success.

But before we get into those areas, do you mind if I ask you a personal question?

Why Are You Selling?

Now, before you go thinking that this is none of my business, I put it to you that this is a critical question that you should answer before you begin the selling process, and certainly before you go talking to a real estate agent.

You see, this sale is all about YOU.

Will your life improve as a result of the sale of your property?

You should be able to discern a clear and positive reason why you will benefit from this sale.

For example, you might be selling to:

-          Upgrade to a larger home to accommodate a growing family

-          Reduce financial pressure

-          Downsize to a smaller and more manageable home

-          Move to a retirement village

In all these cases your life should improve once you make the move.

Human beings are goal-oriented creatures. We all need something upon which to set our sights.

If there is a benefit to you in the long run, the selling process will be much easier for you.

You should never put your property on the market with the thought, “If I get my price, I’ll sell”, or something similar.

Without a clear goal you are wasting your time, emotional energy, and money.

Now let’s talk about presentation ...

Adding Extra Sparkles

Giving your property that extra appeal.

You rarely need to spend thousands of dollars to make your home attractive.

Buyers are attracted by the appearance of your property and when they inspect it, they are influenced by its atmosphere.  The right appearance outside, followed by the right mood inside, gives you the best chance of getting the highest price.

You rarely need to spend thousands of dollars in renovations or repairs to make your property attractive.  All you have to do is pay attention to some obvious points, all of which can me a big difference to your price.

Falling In Love

Buying a home is emotional.  The feeling of a home is more important than the price.  If you agent has ‘qualified’ the buyers, they will not be ‘lookers’; they will be genuine people who can afford your asking price.

Their feelings will be the main reason they accept or reject your property.  The work ‘love’ is common with home-buying – and even with land, when buyers report loving the location.  Buyers say, “We loved that home and that’s why we bought it.”  So make sure you present your property at its finest.  Remove or fix anything that might be a ‘turn-off’ for buyers.

First Impressions

We are attracted to homes the same way we are attracted to people.

The first thing we notice is the outside. If the property is clean and neat and welcoming, we are interested.  If it is scruffy or dirty, we are turned off.

Buyers often say they “just want to look from the outside.”  They want to see if they are attracted by the appearance.

For this reason you need to be careful how your agent markets the property.  Advertising an address, and opening for inspection a property that might not be attractive from the outside, can lose many buyers.

To make your home look its best, attention to detail is crucial.  When you live in a property, you can overlook its little faults.  It is now time to have a fresh look.

Stand in the street and look at your property as if you were seeing it for the first time.  Try hard to pick faults.  It is better that you find the faults while there is time to fix them, than the buyers finding faults.

Try to judge your property by the standards of the buyers, not by your standards – try to see it through strangers’ eyes.

The challenge is to make your property as attractive as possible without spending too much.