Doing your own independent research is a very important element of selling your home because it gives you peace of mind that the information we share with you as your agent is reliable.
But with so much data out there about the market, it can be a little overwhelming. Here are three things we recommend to help you become a smart seller.
- Research properties like yours online
It takes just a few clicks to look up properties that have similar features to yours on one of the real estate portals on your computer or phone. Check out the recent sales section to see how much properties are selling for and how they are being presented.
Make a note of the lowest sale price that was achieved by a property like yours, the mid-point and the highest prices. How does the property compare to your home? Identify the factors that you think may be the reason why the cheapest property sold for what it did (location, room size, age of the fitout) and then repeat with the highest selling property and ask yourself how yours compares.
2. Check out the opens
Whenever you sell, you need to check out the competition. As part of your online search, identify properties currently on the market like yours and make sure you attend the open for inspections of a few.
How do these properties compare to yours? Are they bigger, older, more modern, better furnished? How does their presentation compare? What can you do to your property to make sure it stands out against the competition in a positive way?
Make sure your home is in the same league as what else is being sold, and your expectations are not wildly unrealistic.
- Attend some auctions
If you’re unsure which property method to use to sell your home, it pays to attend some auctions. Seeing them in action will help you get familiar with the process – but most importantly, they will give you an understanding of local clearance rates and whether the price expectations of other sellers are being met. This can help inform your own pricing and sales strategy to discuss with your agent.