While we can still remember those good times when houses for sale in Mitchells Plain (and everywhere else for that matter) were scooped out of the market almost as soon as they were listed, there is no doubt that we are not experiencing this in the current market.
We have moved from a seller’s market to a buyer’s market. There are far fewer buyers looking to buy houses and they are spoilt for choice. While this is good news for buyers, as a seller it means that it has become far more difficult to sell your house quickly and at a price that you would like.
The key to selling your house in this market is to make it stand out from among the other houses on offer in your area. Here are 5 tips that could help you to do just that and consequently, sell your house quickly.
1. Price Correctly:
This is probably one of the most important factors when it comes to selling your house.
Now I understand that this is your home. You’ve probably spent good money on it over time and it has a significant amount of sentimental value. Moreover, you would like to get enough out of the sale to buy the house that you really want.
The sad truth is that none of this matters to the prospective buyer and they will unlikely consider offering anything more than the current market value. It is therefore important to find out what the current market value of your area is. What are other similar houses currently listed at? What have other similar properties sold for over the past 6-12 months? What were the listed prices of homes that did not sell within a 3-4 month period on the market? (These houses were priced too high.) What are the trends of your area?
Once you know this, you will have a good idea of what a fair price would be to ask for your home. If you really want to stand out and sell fast, then you may want to price your house a little lower than your competition that are also marketing their houses at the current market value.
2. Fix the little things
We tend to become oblivious to the little things around the house that need attention. Dripping taps, broken tiles, peeling paint, an unkept garden and rubble left over from previous renovations are just a few things that do not cost much to fix, but make such a big difference to the perceived value of a house. A fresh coat of paint can add 10 times its cost to the value of a home.
When buyers see lots of small things that need attention, they begin to wonder what bigger things they have not seen that will cost them money over time. On the other hand, a house that looks well maintained and cared for offers peace of mind.
3. Stage your Home
If you’ve ever paged through an Interior Design magazine or watched Top Billing then you will have seen houses where everything looks like it fits so well. The coffee table has 3 books on nature neatly placed in the centre and the pillows of the couch are puffed so perfectly that you’d almost feel too bad to sit on it. This is known as staging a home. We are influenced by our senses and 2 primary senses that we use when looking at houses are our sense of sight and sense of smell. Secondary would be our sense of touch and hearing.
Up until now this has been your home, but now you want to sell it and you want it to appeal to as many different people as possible.
The first thing you need to do is neutralize the smell of your house. Perhaps, you love lots of garlic in your food. The smell of garlic may be enough to put someone off your house. Get some gentle air freshener and air out your home.
Next, make sure that it is neat. Vacuum the floors, pack away things that are out of place and ensure that cupboards are neat because they’re likely to be opened. Declutter! If you have lots of knick-knacks, this would be a good time to pack them in boxes and replace it with single ‘centerpieces’. Less really is more here. You may even want to remove some pieces of furniture to make a room look bigger.
Once you’ve staged your home get a neighbor or someone who doesn’t live there to come over and give some critique on how it looks.
4. Offer a little extra:
You’re moving to a new home and would really like to get some new appliances for your new home? Well, offering to leave your current fridge or washing machine as part of the sale might just make for a very attractive offer, especially for first-time buyers that need to furnish their new home. What about offering a year-long garden service as part of the deal or 6 months payment for the armed-response security contract? This could be worthwhile if it closes the deal.
5. Find a good local estate agent with an excellent track record
Selling a house is not an easy task. There is no doubt that it is going to take a lot of your time and you are going to have to spend some good money advertising to attract buyers without any guarantee of return.
Hiring an estate agent will cost you some money in the form of commission, but you only pay upon completion of a sale so the risk lies entirely with the estate agent.
Furthermore, an estate agent can quickly do all the research needed to price your house correctly and furnish you with a report that shows this. Most estate agents will do this at no cost to you. They sell houses for a living and will be able to offer you advice on what little fix-ups will offer the best return, and how to stage your home effectively.
You will want to make sure that you get an experienced local estate agent with a proven track record, because one of the biggest advantages of such an estate agent is that they will already have access to qualified buyers that are looking for houses in your area. A good estate agent will know what motivates the buyers on their database and can help you to appeal to their specific needs and desires.
A good estate agent will get your house sold at a fair market related price.
So, to recap; price your home correctly, fix up the little things, stage your house, offer a little extra and find a good local estate agent with an excellent track record. Following these 5 tips could certainly help you sell your house fast at a fair market price in the current buyers’ market.