As house prices begin to slow, it’s now more important than ever to make sure your property stands out to a potential buyer. Real estate expert, Andrew Winter, talks us through some of the top selling trends and techniques, so you can decide if they’re the right fit for you.
There are many tricks of the trade you can employ when selling your property. From the way you style your home, to the way you market it, these selling tactics may give you a competitive advantage over other properties on the market.
Selling off market
Off market selling is listing with an agent, but not actually listing your property on the market. This is also called a secret listing.
"A secret listing is when you will employ an agent - maybe it's on a conventional or a reduced fee, on the basis they don't do any marketing," explains Andrew. "They're just using their database. You can do this only if the agent has sold similar properties to yours already and that there are other properties similar to yours on the market."
Andrew believes it can potentially be a successful sales tactic. "It's discreet, and another way of testing the waters before going on the market and getting a feel for the prices you may be able to get," he says.
Because it's not listed online, it's not considered on the market officially, so it's not logged. "Plus, buyers love a secret off-market deal... but usually no good if you want a crazy price, you'll just get market value," he says.
You've probably seen online services like Purple Bricks popping up, but should you trust them with the sale of your house?
"These online services have exploded and there is so much more to come," says Andrew. "Nowadays you can get services that range from basic advice on listing and how to do it yourself, or services that offer you a valuation and conduct open homes."
These are effectively changing the way the real estate industry works. "I think agents should watch out as it's a growing market," says Andrew. "Agents have to acknowledge these services or adapt their fees and services for the savvy seller."
But does Andrew recommend it? "For a seller, give it a go, but have caution. Beware of services that require you to pay fees upfront before a sale. I don't like that," he tells.
Whole house styling
Styling is a big part of our market in Australia. However, there is such a thing as over styling your home for sale.
"If your home is under 10 years old and life is busy with kids or pets, pack your stuff up, stage your home with different furniture and live in your display home for a couple of months - it will work, says Andrew. "However, the key is to not take away from the 'lived in' feel buyers are looking to see."
If you have a deceased estate or a really old home in need of renovation, Andrew advises against this approach. "It's a false economy and waste of money. If the property is in need of renovation, you're better off cleaning, decluttering and making the space neat and tidy," he says.
Stream new episodes of Selling Houses Australia from March 6 weekly, or watch 8.30pm Wednesdays on Foxtel's Lifestyle.