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5 secrets to making an extra $20K when selling your home.

5 secrets to making an extra 20K when selling your home
Posted 05 April 2018

Surely it's not that easy, I can hear you saying: Well, it is!


All you have to do is sell your home through Next Address! We will provide you with loads of tips and tools, as well as access to professionals who can guide you through any issues or provide advice when needed. Advice ranging from how to prepare your home to photography and negotiation tips.


On 2 December 2015, John Cunningham of Cunningham's Real Estate, who had just been elected president of the NSW Real Estate Institute, called for better agent education. He said, "The barista who makes your coffee has more training than many real estate agents who are entrusted with selling your biggest asset."


So why would you hand over $10,000-$30,000 to an agent when you are probably better skilled?

Just think: What COULD you do with the extra $10,000 to $30,000?

You have made the decision to sell your home. You want to make as much money from the sale as possible.


Knowing these five secrets will help you achieve two goals: successfully sell your home and make up to an extra $20K along the way. You will learn how to prepare, market and sell your home. So let's open up our treasure chest and show you how!


1 Making your home look its best

2 Taking great photographs

3 Choosing the right marketing

4 Using social media

5 Being in control


Bookmark this article now so you can refer back to it at different stages of the process.

1. MAKING YOUR HOME LOOK ITS BEST

Let's be very clear here, if you are considering selling and want to get the best possible price, the most important and time-consuming part of the whole process is preparing the home for sale.

The three most important steps are:

 

  • Decluttering and depersonalising
  • Cleaning and tidying
  • Garden preparation


People need to be able to see the home and imagine their life in this home: not yours. Do this well and you will maximise your financial results. Let the natural features and characteristics of your home shine through. Professional property stylists puts a dollar value on this anywhere from an extra $5,000-$10,000.

There are loads of great blogs on home decor and remember to keep it simple.

Is styling your home for sale important?

How you can stage your home for sale without breaking the budget

Transforming and ugly duckling: simple steps to creating street appeal

2. TAKING GREAT PHOTOGRAPHS

You know your home best - the best time of day to photograph a corner of the garden; that moment when the sun lights up a particular room. Remember to complete secret one before you start snapping. You wouldn't rock up to a family photo shoot in dirty clothes with unwashed hair, would you? You'd want to look your best - and so does your home!

The three essential photography tips you need to know are:

1. Make sure there is plenty of light, either natural or artificial
2. Face the room corners. Stand well back and take your picture into the corner to make a room look bigger
3. Most importantly, take your time to find the right angles and the best furniture placement, take lots of different shots and pick the best images

Once you have taken your photos, send them off to an online editing service who will add a professional edge to them. For around $300 you can have 12 photos and a house plan, for a fraction of the cost of a professional photo shoot.

DIY photography can save you anywhere from $500-$2000

For more information about photography, read our blog: DIY home photography to make buyers say WOW!

3. CHOOSING THE RIGHT MARKETING


It's stating the obvious that marketing has changed enormously in the past ten years. Embracing these changes will substantially reduce your marketing spend.


So rather than spend money on newspapers, magazines and extra large sign boards, we suggest you focus on effective online marketing. This will achieve maximum outcomes for minimal spend.

Newspaper ads and magazines are just fillers and coffee table fodder. Buyers are online all the time, not in a doctor's surgery looking at magazines. Don't fall into that trap. You can waste anywhere from $2,000 to $20,000 depending on the suburb and home. This is your hard earned money. DIY real estate websites such as Next Address offer smart, savvy, affordable solutions by directly connecting buyers and sellers.

4. USING SOCIAL MEDIA


Facebook is no longer just a tool to connect us socially, but a tool we are using for commerce, education, and our personal communication. They are at the forefront of creating affordable online business marketing platforms, making it easy to find the buyers looking for specific products.

With this in mind, did you know that most people buy their homes within 5 km of where they currently live? Combine this knowledge with Facebook's powerful analytics tools and you can effectively target your buyers.

Facebook can map everything: schools, transport needs, our ages and personal interests. All this is collected from the information we have personally loaded to our Facebook pages. It is powerful and effective. So embrace this platform as one of the newest and most effective marketing platforms available to you.

As part of your home registration, Next Address sets up Facebook advertising for your home to target potential buyers who are looking for a home just like yours.

5. BEING IN CONTROL


Selling and buying a home is one of the most significant financial decisions we ever make. At Next Address we know that one of the biggest concerns raised by both buyers and sellers is poor communication by agents.


Choosing any agent is effectively giving away at least $10,000 and up to $30,000 in commissions. So consider if this is necessary.

Ask yourself:
1. Can I communicate with people?
2. Do I regularly negotiate with my colleagues?
3. Do I know the best features of the home I am selling?


Every day you successfully negotiate your way through life: from pay rises and workplace issues, to your relationships and family matters. At Next Address, we believe if you can manage to negotiate your way through these, you can manage to negotiate the sale of a property.

We believe most people are capable of buying and selling a home directly with each other. We love Uber and Airbnb. Now there's a real estate service offering us a service that directly connects buyers and sellers.

You can make an extra $20,000 by taking control of the process yourself. There are so many great blogs and resources to guide you through the process.

Be Prepared


Ask yourself: what price and terms do you want? There are some fabulous websites now to make this easy and accurate. These are the same tools that real estate agents use.


Log on to www.homevaluationguide.net.aufor a free and comprehensive property report. Once you have done this research, set your price range. Be realistic and fair, and know why you have set this range.


Think about your terms and conditions. This could make a significant impact on the sale and price range from a long settlement time, to finance clause, even a rent first option.


Finally make sure you have ordered a copy of the Vendor Statement (Victoria) and a blank Contract of Sale. All of these are prepared by your legal representative, conveyancer or solicitor. It is also advisable to prepare an Offer to Purchase document. Read the blog posts and download the samples. You can also watch our videos.


Once you have prepared these documents, you are ready to sell your home yourself. Even if you decide to sell with an agent, getting these documents ready is your responsibility.


Be in control of the Negotiation


Negotiation should be a positive experience and is about creating a win/win for both parties. We have a video to help you: Negotiating a purchase price: it is not difficult.

  • Be clear about what you want: your price and terms.
  • Communication is vital: be open and confident.
  • Know why you want to sell the home: list the home's benefits and be aware of its negative points.
  • Be flexible, friendly and honest in your approach. Stay calm.

Have any interested buyers complete an Offer to Purchase document. If you decide to use an agent, request that they present all offers using such a tool. This way you know the offer is genuine. You can have the offer document changed a number of times until both parties are satisfied. You can simply email each other the changes as you go. This also provides each party with a full record of the entire process.


Be in control of the Agreement


Once an agreement is reached via the Offer to Purchase document, your legal representative completes the Contract of Sale. You can email the conditions to them, including all the conditions outlined in the Offer to Purchase document.


When this is completed, the Buyer/Purchasers should sign the Contract of Sale with their legal representative. Once done, the contract is countersigned by you as the Seller/Vendor. Again, do this with your legal representative to ensure all documentation is correct.


Once both parties have signed the 'contract of sale,' the sale is complete! Congratulations, you've sold your own home and saved a lot of money!


Sell my home for me: consider how very carefully

Selling your home; one important tip to get it sold


Can I sell my own home? (Victoria)

Offer to Purchase Document

Sample Contract of Sale (Vic)



Updated 5/4/2018

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