07 4152 4200

Selling Your Home

by Tim McCollum

To achieve a successful sale 3 basic areas need to come together.

P- Presentation- Since early 2003 I have sold properties that have been very poorly presented, properties that the presentation has been average and properties that have been presented exceptionally well. A buyer will always tell me that they can look past the clutter and the mess. However they just don’t seem to. People buy a property because they like it and they choose to buy it. Selling a poorly presented property is a long slog and the end result is a figure that is usually below par. On the other hand when a property is presented exceptionally well and the other 2 “P’s” are right the figure that is achieved can also be exceptional and in a much shorter time frame. The vendors that go to more effort in presenting the property initially along with getting the other 2 P’s right end up with more money in a shorter time frame with a lot less stress and expense. We will always discuss the best way to present and stage your home for sale. The help that we can provide you in “staging” your home can be the difference between selling and not selling, achieving a Premium price or an average price.

P- Promotion- If a buyer is not aware that your home is for sale- they won’t buy it! The more buyers that you have, the higher the price that is likely to be achieved. Market research has found that it is often the 3rd time that a buyer notices something before they act on it. If I have one buyer trying to buy your property, getting them to pay a premium is less likely. However if I have 2 or 3 buyers trying to buy your property at the same time I have more to work with to get them to pay a premium to be successful over the other buyers in securing your home. The more that is done to find more buyers, the higher the price that is likely to be achieved as a result of finding more buyers. It is not about finding just 1 buyer, it is about finding the best buyer, the buyer that your home is perfect for, the buyer that will pay more for it. Marketing is something that I recommend and the best results come from properties that are marketed strongly.

P- Price- If the property is priced above the market, the buyers will not contact the agent and will not inspect a property that an agent has told them about. Presentation and Promotion is wasted on an overpriced property. The property may be a great property however if the price is not right, no one will look at it and the ones that do will find fault in the property. A property in bad condition can be the best property on the market if it is priced well. However buyers will pick an absolutely stunning property to pieces if they have inspected something with even more to offer at a lower price. The best results come from properties that are priced well initially. The biggest mistake people make is thinking they can come down but they can’t go up and they decide that they are not in a big hurry and then list the property at a price that is too high. The problem with this is that buyers don’t buy when they 1st start looking. Buyers take a while to get to signing a contract stage. When a buyer inspects a property that is overpriced, the ones ready to buy have seen properties with more to offer for the same money so they don’t buy it. The buyers that would love to buy it, simply don’t inspect the property as it is priced above the money they have to spend. As a result the property sits and does not sell. At some point the vendor then decides to reduce the price of the property. Sometimes this has to happen a few times before the price is at a figure that it should have been to begin with. The problem now is that the buyers ready to sign a contract have seen it on the market for a while. No-one wants something that no-one else wants. No-one wants to be the fool that bought something that everyone else could see reasons not to buy the property. The buyer decides that it must be overpriced. For the buyers that like the property and take an interest in it understand that it’s been on the market for a while and has not sold so they then put in a low offer understanding that it hasn’t sold and no one wants it. Alternatively, properties that are launched to the market that are priced correctly are HOT properties. A buyer that is ready to sign a contract that has the money to complete the sale has inspected many similar homes already. The buyers that have not seen many homes are not ready to buy and don’t buy. The buyers that are ready can see value before they even walk in the door. If it is well priced, well promoted and well presented, all of the buyers that are ready to buy will see value and will act. The highest interest in a property is usually within the first 2 weeks. If more than 1 buyer is trying to buy the property at the same time a multiple offer situation results. I can then work with each buyer to extract the most out of them to beat the other buyer which results in a premium price for the vendor in a short time.

Methods of Sale

The Auction method is the best method of sale in a fast rising market and in certain parts of the country for a range of reasons. The Auction method worked very well in the Bundaberg Region from 2003 to 2006. However since 2006 the best results in the Bundaberg Region generally speaking have come from using the Private Treaty method. The Private Treaty method is simply marketing a property by way of displaying a price. Smoke and mirrors are not something that we do or recommend. We have found that keeping things simple usually works the best. We have found that advising a buyer “what it is”, “ where it is” and “ how much it is” works the best in the Bundaberg Region.

At SYNERGY we will not promote the desperation of the sellers circumstances to entice the bargain hunters, encourage low offers and a quick sale. At SYNERGY we will find the outstanding features of the home and promote the home in the best way possible to achieve the best outcome possible.