There are six factors that will influence your sale:
Real Estate Agent & Promotion: The real estate agent advises you on market conditions, presentation recommendations, contracting, financing, title work, appraising and closing the sale of your property. Your agent will recommend the best form of promotion for your property Just as you insist on an experienced well-prepared doctor to treat your family, you want a real estate agent with a proven track record who does his homework representing you in the sale of your property
Location, Product & Competition: You have no control over the location of your home or what other properties are available at the same time as yours. You also have very little control over the actual structure of your property All of these factors help determine value.
Price, Condition, Presentation & Timing: You control these. As a home seller, you should get a written market analysis comparing your home to similar properties that have recently sold and are currently on the market. Your home's condition/presentation is vital to a sale. A clean, well-maintained property enjoys a competitive edge over all the others on the market. You'll sell faster and at a higher price if you "Stage" your property to enhance its appeal. Timing the entry of your home onto the market is also in your hands!
HOW SOON YOUR PROPERTY SELLS WILL BE DETERMINED BY THE FACTORS YOU CONTROL.
A FEW WORDS ON PRICING
Do NOT list with the real estate agent who gives you the highest price.
Consumer Reports stated:
"Expect the agent to suggest a price range, but don't let that frame you in. Be aware that some devious agents will, at first, suggest a very handsome price. Then, after they have the listing and the house hasn't sold, they'll come back with a pitch to lower the price."
If you bought BHP stock five years ago and wanted to sell it today, would you call your stockbrokers and tell them that you insisted on selling at a 200% profit or would you ask them to tell you what the market price is? This is the same principle with the Raine & Horne Team of Specialists and their market analysis on your home.
The Raine & Horne Team of Specialists prepares a thorough, well-researched computerised market analysis on every listing. As a result, they sell their listing at very close to the asking price / reserve price. It's part of the service you pay for.
Overpricing can be costly
Real Estate Agents are working with buyers who have seen what is currently on the market and are waiting for something new to be listed.
Therefore, most activity will take place in the first 30 days of listing.
Your property will most likely receive its highest and best offers during this time.
After this initial period, the only people to look at your home will be new buyers in the market place.
This chart shows the relationship of the amount of activity to the time a property is on the market.
REAL ESTATE MYTHS
Raine & Horne sell a lot of real estate. Perhaps they are too busy to pay attention to my listing.
Truth: Just as superior restaurants are busy at dinner time and superior doctors have a heavy patient load, Raine & Home's success in marketing homes has resulted in them being busy. Like good restaurants and doctors, Raine & Home has assembled a top-flight team of specialists to assist with the routine details and free the sales people up to devote the time and attention YOU require to sell your property successfully. Raine & Home have built their business one satisfied customer at a time. And their goal is for you to be another satisfied client who spreads the word about how well you were served.
"Discount" agents can do an adequate job selling real estate.
Truth: Promotional costs such as photos, brochures, ads, guaranteed sale program, direct mail, The Raine & Home Property Guide, directional signs, etc. are paid by Raine & Home. Will the discount agent offer a complete market campaign? Does the discount agent have the staff to personally attend to your specific needs? Do they have a proven track record of success, or are they using the discounted commission to win your business? Do they have the expertise to guide you through problems that may develop during the closing process? Remember that you only pay commission if and when your property sells successfully, you pay no commission or advertising fees if the RAINE & HORNE TEAM OF SPECIALISTS does not get the results. The supply of buyers through your home will be less if marketing is limited.
You should select the Real Estate Agent who says they can get you the highest price.
Truth: This is the oldest scam in real estate: tell the seller what they want to hear and compliment the home to get the listing, then ask for a price reduction 30 days later Instead, insist on a written, well-researched computerised market analysis to determine the realistic amount your home will bear in today's market and price accordingly Select your real estate agent based on their credentials, then decide on price. NEVER SELECT AN AGENT BASED ON THE PRICE THEY RECOMMEND.
Empty homes don't show as nicely as furnished homes.
Truth: The important consideration is whether or not a home is properly staged, that is clean, in good repair and available to show. If you must move to your new home before your old home has sold, simply take measures to ensure it shows well empty, repair/replace worn carpeting, oil all woodwork, wash windows and clean walls. In fact, it will probably appear larger without your furnishings and the buyers can envision their belongings in each room more easily
Property condition is not important to buyers.
Truth: WRONG! A property in superior condition will sell faster and for more money than a home in average condition with a lower asking price. Many sellers recognise this and re-paint and re-carpet their homes in preparation for selling. These sellers know that home buyers purchase value and will perceive a clean, fresh home as more appealing than an average, lived in, forgive-the-mess home.
Pricing a home for sale is a mysterious process.
Truth: Your home will sell for whatever the market will bear. To determine the range of value, you simply need to me what similar homes are selling for. And because every home is unique, your home will probably sell for high or low range depending on its condition (see above). Raine & Horne's Team researches various databases to collect data to help you decide where to put the price. lt is not an easy process, but it's not mysterious either
METHODS OF SALE
When it comes to selling your property, there are three popular methods to choose from:
Exclusive : Private treaty
Each has its own advantages and it is advisable to speak to your agent about the benefits of each method.
Raine & Horne has successfully utilised all three methods, however we have found sale by public auction to be the most effective method for properties located in the all areas of Port Douglas/Mossman and outlying towns.
Auction is effective in the event of there being difficulty in clearly determining the value of a property whereby a value range may be more practical.
Also, where a property is likely to attract more than one qualified buyer in the marketplace, auction allows competitive bidding to increase the final sale price.
In the event that you choose to submit your property for sale by auction it is important that you know the success/clearance rates of the real estate firm you choose.
TIPS ON PRESENTING YOUR PROPERTY
You don’t get a second chance to make a good first impression. Most buyers look for properties that are well cared for and clean.
1. Lawns and Yard - remove rubbish, mow lawns, edge paths, trim hedges, weed gardens, remove any objects such as children’s toys and try for an uncluttered appearance.
2. Front of the House - paint, fix or wash railings, steps, screens and/or front door.
3. Other Exterior - clean gutters, wash windows and clean timberwork.
4. Garage - clean up, paint, wash doors and windows.
5. Bedrooms - tidy and made up.
6. Kitchen - stove, refrigerator, sink should be spotless, all work bench space clear.
7. Bathrooms - neat, clean and fresh. Check and double check your bathroom as bright and clean bathrooms sell many properties.
8. Entrances, Halls and Stairs - remove any clutter to give a wide appearance.
9. Built-ins - untidy or overcrowded cupboards suggest inadequate storage space.
10. General Condition - dust, wash, clean walls, remove scuff marks around light switches, paint, fix defects as required.
11. Store unnecessary furniture to "enlarge" room sizes - make the home feel spacious not cluttered.
12. Hardware - Oil hinges and tighten door knobs.
13. Plumbing - repair dripping taps, leaking toilets.
14. Heating/cooling - have the unit operating to show how warm it is winter and how cool in summer.
15. Lights - replace all burned out bulbs, repair faulty switches, place light shades where there are none.
For a complete guide to selling and a true Comparative Market Analysis contact the team at Raine & Horne Mossman/ Port Douglas on 07 40 871800.