Smart ways to sell your house

Selling your home can be a challenging, stressful, and time-consuming process. However, for some sellers, time may be of the essence, and you may be looking to sell your home as quickly as possible. 

 

If this is the situation you find yourself in, there’s a number of different ways you could go about the selling process to help not only save time, but also potentially sell for a reasonable price.

 

While there are no guarantees in the property market, being unprepared could make your sale process longer. We look at five ways that you can potentially set yourself up for a more streamlined experience.

 

Find out what your home is worth

When you’re looking to sell, one of the first things you might want to do is get an understanding of how much your home may be worth. This is important when it comes to setting a realistic sale price.

There are three main ways to get an idea of how much your property is worth:

• A property valuation,
• an online estimation,
• and an appraisal.

Property valuation

A property valuation is typically the most formal and in-depth way of finding out how much your home is worth. It’s generally done by an independent professional valuer who works with a bank or financial institution.

These take into account every aspect of a home, from location to visual appeal and local zoning restrictions to make an accurate valuation. Unless you’re applying for finance, you may have to pay for this service.

Online estimation tool

Alternatively, you could use an online estimation tool to get a rough guide of what your property is worth, such as the Westpac Property Market Research tool. It’s straightforward to use and can be a good option if you need an approximate value quickly. However, keep in mind that it gives more of a ballpark figure. Providing an indicative average based on data collected from similar sold properties in the local area. 

Property appraisal

The third option is a property appraisal, which is done by a real estate agent. They’ll give you an idea of what your home might sell for in the current market. While it’s not as in-depth as a property valuation, it’s more accurate than using an online estimation tool.

The real estate agent will compare your home with similar properties that have recently been sold in the same area, looking at homes of similar size, features and condition, in order to be as accurate as possible. It’s worth noting that the real estate price estimate might not reflect how much the bank would value your property. There’s often a gap between these two estimates due to various factors including regulatory requirements, a bank’s lending policy and its risk appetite.

Once you understand the worth of your home, the next step is to find out what you can do to sell your property - and if you can do so quickly. 

 

Make first impressions count

It’s important to keep in mind that some of your home’s value often comes down to how it’s perceived by people in the market. So, if you’re looking to stand out and create a great first impression, it may be worth investing in the presentation of your home. This doesn’t have to be expensive or time consuming. Here’s some options you might consider:

 

Increase the curb appeal

The first thing potential buyers will see is the exterior of your home, so consider your home’s curb appeal. An attractive property is more likely to stop passing buyers in their tracks and entice them to look beyond the front door.

This can be as simple as the addition of new house numbers, cleaning the front deck and driveway, sprucing up the front garden with some mulch and new plants, or adding some potted colour.

 

Help buyers visualise their home

During an open home, potential buyers need to be able to imagine themselves living in your home, whether it be where they put their favourite furniture or how they might use a particular space. This can be difficult with your personal possessions, such as photos and children’s toys, laying around the home. 

For a quick and easy solution, think about decluttering your home by getting rid of what you don’t need or putting it in a storage unit. Alternatively, if you’re willing to invest some money, you could also look into home staging. This is where a home stylist will ‘stage’ your home with more consistent and neutral pieces such as new rugs, wall art, flowers and furniture, making it look more appealing.

 

Pick up the paintbrush

A simple and time effective way to add extra value to your home is with a coat of paint. Whether you’re confident to do it yourself or want to hire a professional, a fresh lick of paint can really lift a property.

 

With your home in good condition, it’s now time to consider how to go about putting it on the market.

 

Work with an effective real estate agent

Hiring a real estate agent who knows the local area and market and who has lots of contacts, may help you sell your home quicker. 

Following a property appraisal, a real estate agent will help you set a fair and competitive asking price for your home. They’ll also advise you about whether it’s better to sell by auction or private treaty in the current market.

Agents can also help you find buyers for the property through their database and via online enquiries. They will often target potential buyers and try to eliminate timewasters who may have no intention of buying. They can also oversee negotiations or bidding wars. With experience under their belt, agents can help you get a good deal in a timely manner. 

Finally, agents can help navigate the paperwork involved with selling a home. Their knowledge of the process can help to ensure the process goes smoothly and prevent delays in the home sale. If you want help to find an agent, you may want to consider organisations such , an independent service that uses a rating system based on agent performance, proximity and suitability to your needs. 

 

Get creative with your marketing strategy

Getting creative with your marketing strategy could be as simple as sharing your online listing to your social media channels. Not only does this allow you to reach your own friends and family who may be interested in purchasing, but you could also encourage your followers to reshare to their own network, amplifying the number of people your listing reaches with just one click. 

 

Speak to the home loan specialists

Once you’ve made the decision to sell your home, it might be a good idea to speak to your home loan specialist. Doing this from the get-go may prevent any unexpected and time-consuming barriers to selling down the line. 

 

A chat with your lender may also help you understand the steps involved in selling your home and buying your next property, allowing you to make sure all your paperwork and necessary documents are in order to ensure a smooth and timely sale. 

Got a question about buying or selling your property? Call us on 132 558, explore our home loan products or visit a branch to talk to your local Home Finance Manager.