With states experiencing some type of property adjustment, sellers are having to reset their sale price expectations. While there is still a shortage of high-quality properties, the number of buyers has dwindled and agents and sellers are having to work harder to get property sales over the line. Despite all this negative media coverage, I believe it is a seller’s market.
I am still selling properties for good prices however we are having to work harder to get the right buyers to the table and we are encouraging sellers to look at ways in which they can add value to the deal to optimise the sale price and speed up the sale process.
We are seeing an increase in the number of days that properties are sitting on the market compared to this time last year. While the number of days in Melbourne is sitting at 34 for houses, this is still a fairly short period of time. Houses are still selling faster than apartments.
What can sellers do to get deals over the line?
Vendors are not necessarily having to drop their prices but I am encouraging them to look at ways they can sweeten the deal to make the sale more attractive. Here are tips on how to provide extra value for buyers to get sales over the line faster and for the desired price.
Include sales imagery
Listing a property for sale is about having the right imagery to promote the property to potential buyers. The better the imagery, the more views, clicks and people viewing the property on open day. A lot of people purchase properties for investment purposes.
Why not include the property imagery for the buyer so they can use it to rent out the property. This way they can get renters in the door faster for the best price and they don’t have to outlay money on photography to do this. This is an upfront saving for them.
Give them outdoor furniture and pots
Often outdoor furniture and pots don’t suit the seller’s new home. Rather than having to move it, store it or deal with the time consuming process of selling it, it is often easier to leave some things behind. Why not offer to include certain pieces of furniture, pots or a BBQ so the new owner can use them. This is a nice way of including something for free.
Give the buyer immediate access
Many people want to rent out a property straight away on settlement or start work on changing it. Why not offer to give the new owner immediate access so they can get a tradie in to measure up for quotes. I often meet tradies and carpet and curtain businesses at properties before they have settled so the new owners can get blinds and carpets ordered and underway. This saves the buyer time and helps them to get a tenant in the door faster.
Include work benches and equipment
Garages often hold lots of varied gear like work benches, tool storage and cupboards and other types of equipment. Why not include some of it in the deal. If they are items you don’t really need or don’t want to move, then why not include it in the sale to sweeten the deal.
Appliances and household items
These days fridges, washing machines, coffee makers and other appliances are built in or perfectly sized or coloured to suit the home. If these items add value and would be difficult to replace because of their size, dimensions or style, why not offer to include them in the sale.
These make the difference between buyers settling for your property due to ease or buying something else. Good agents work with vendors to identify ways to sweeten the deal.
Sheree Hay is one of Victoria’s leading property sales agents.