3 ways home sellers can succeed in tough property markets

Vendors are finding it tougher to sell homes across the country as property prices cool and buyers spend more time to make a decision, but experts say there are three factors that can help sellers get a strong sale.

National home values are falling and buyers are generally being more selective and cautious than they were during the peak boom periods.

It comes as properties are also staying on the market longer, auction clearance rates are softer, and vendors have had to adjust their price expectations.

Given the current state of the property landscape, agents say there are three considerations that vendors should weigh up to secure the best sale price for their home.

Nail the presentation and make buyers fall in love

Clint Harris, property partner at The Agency – Central Coast, said when buyers have more choice and are less concerned about missing out, presentation is critical.

“It needs to be a bit more compelling; it needs to be a bit more competitive,” he said.

Mr Harris said sellers should focus on strong visual presentation, and making it easy for buyers to do their due diligence, such as having a building and pest report ready to go.

He said home styling could help buyers visualise how different spaces in the home would be used, but whether or not to invest in styling should be considered on a case-by-case basis.

“Quite often we have homes that have multiple living areas, and if you don’t have any furnishing in them whatsoever, it can be hard to understand aspects and intended uses of those areas,” he said.

“A styler can bring the floorplan to life.”

Presentation should also appeal to the senses, with effective lighting and fresh scents factored in, while kerb appeal, including the lawn, letterbox and driveway, should not be overlooked.

“I’m a big believer that a buyer will drive past your home anywhere up to five times before they decide to purchase it,” Mr Harris said.

“Getting that part of the home right is absolutely mission critical.”

Greg Allan, director and auctioneer at Harcourts, said good presentation created an emotional connection that could ultimately support a stronger sale price.

Mr Allan agreed that home styling helped buyers to visualise spaces, but said it wasn’t always necessary.

“I think a room typically looks smaller unfurnished than when it's furnished, but also, it can bring some character and style and tell the story a bit further,” he said.

“So I’m a big believer in styling at the right times.

“You’ve got a small moment to make someone fall in love with it and see themselves living there.”

Mr Allan said the home should look and smell good, and sellers should aim to engage all the buyer’s senses.

“If you feel welcome in a home, you feel connected to the home,” he said.

Win the marketing battle for buyers’ attention

Nowadays, buyers are consuming enormous amounts of content and sellers only have a small window to make a lasting impression.

Mr Harris said a strong hero image, professional photography and clear messaging about the location perks could help a listing stand out.

Property walkthrough videos are increasingly valuable, he said, offering buyers a more authentic glimpse into the property.

Property walkthrough reels like this one are helping home buyers on their journey

They can also help qualify buyers, giving them a better understanding of a home before they attend an inspection.

Vertical mobile-friendly videos and 3D tours are gaining traction in the property space, whether it's a property walkthrough reel, a more emotive lifestyle property video or an iGuide-powered 3D tour of a property.

“They’re a preferred style of content because I think we’re in a world craving authenticity or some kind of genuine experience of content,” he said.

“That’s what a walkthrough video offers.”

Home buyers are taking 3D tours like this to learn more about floorplans, layouts and more

Mr Allan said marketing needed to stand out, combining professional photography, authentic videos, and targeted promotion.

He agreed walkthrough videos added another dimension, allowing sellers to showcase how a home feels at different times of the day.

“Video is a massive thing at the moment,” he said.

“Authentic video is really important, and then just making sure your spend is getting the right people.”

Have realistic price expectations

Lastly, the agents said having realistic pricing was crucial, as buyers have more choice and will quickly eliminate properties that are outside their budget.

Mr Harris suggested sellers research recent comparable sales and seek three agent appraisals, plus an independent valuation, to build a clear picture of the market value of their property.

Mr Allan said price was one of the first filters buyers used when shortlisting properties, so unrealistic expectations could quickly rule a home out.

“Agents who know their product, know their marketplace really well, should be able to have a really clear open intelligent conversation around price,” he said.

Source: https://www.realestate.com