With property prices falling in many parts of New Zealand, you may need to work smarter if you want to sell your home for a premium price.
Here are five tips to maximise your selling price in a cooling market:
1. Choose a good real estate agent
During the recent boom, even mediocre real estate agents were achieving strong results for their vendors. But during a downturn, agents generally need to be skilled and experienced to generate premium prices for their clients. So do your research before appointing an agent – ask friends for recommendations, check online reviews and interview multiple candidates.
2. Price your home accurately
There are two reasons it’s vital to put a realistic price on your home. First, buyers have a lot of options right now, so they’re unlikely to be interested in an overpriced property. Second, in a falling market, the longer it takes to sell your home, the lower your final price will be, so if your home lingers on the market because it’s overpriced, it could prove costly.
3. Make the home move-in ready
The weaker the market, the more important it is to find ways to differentiate your home from the others listed for sale. One way to gain an edge is to take care of all repairs and upgrades yourself, rather than leaving them to buyers. If your home is move-in ready and comparable homes aren’t, you’ll maximise your chance of getting a premium price.
4. Stage and style your home
You might be shocked to discover just how much more attractive your home can look after it’s been professionally staged and styled. Professionals can significantly improve the visual appeal of a home just by making cosmetic changes to the interior and exterior.
5. Invest in marketing
As they say, you can’t sell a secret. If you commit to a high-quality, comprehensive marketing campaign – potentially involving online listings, social media ads, video, photography, signboards and print marketing – you’ll maximise the number of people who know about your listing and show your home in the most positive light.
Planning to buy before you sell? In that case, you’ll probably need bridging finance. Contact me if you’d like me to learn more about bridging finance and discuss your options.