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Sell My Home In 2020- Is There A Smarter Way?

COVID-19: Click here for an update on buying and selling during restrictions
Sell My Home In 2020 Is There A Smarter Way
Posted 15 May 2020

Are you reflecting on a move to the country, if so, you're not alone?

We all know COVID-19 has well and truly transformed our world in general. We are all beginning to reflect on our lives and what the future holds.
  • What do we want going forward?
  • Where do we want to live and work?
  • What do we want for our families?

Many of us will have to consider a reduced income. Many people will explore new lifestyles.

So in considering a new lifestyle, more than likely this will involve selling and moving house. The property sector has not been immune to the effects of COVID 19.  
  • So how do we navigate the property sector and the selling process with our 'Eyes Wide Open?'

  • How do we select the right method of sale, research the sell my own home online models or choose a good agent?

There is always a Property Market.

There will always be births, deaths and marriages, first home buyers and downsizers. We know Covid19 has resulted in a tighter, slower property market but one which will continue, no matter the conditions. 

In considering a lifestyle change, there will, of course, be many experiencing mortgage pain and others who want to consolidate their financial situation.  To make the best possible decision for your situation, you must look at all your options and opportunities.

As well, many of us have more time for contemplating our lives and what we want as we move forward through Covid19.  We are searching for terms such as 'sea-change' and 'tree-change'. 

Many people are reviewing property sales methods with online searches such as 'sell my house without an agent,' 'sell my own home and 'sell my home privately' appearing more regularly. We are making 40,000 google searches each month along these lines, so we are genuinely interested in alternative selling methods.

There are now more reasons than ever as to why you should seriously consider managing and selling your own home online.  These reasons are explored below.

1) Online Portals -Sell Direct

Reflecting on the increase in searches for 'sell my home direct', or 'sell privately' the new wave of DIY websites are more like peer to peer marketplaces, offering smart online solutions.  The fees are much lower than the traditional agent, and with some, you can choose which services you require or want. These services include organising inspection times, managing inspections for a fee or negotiating the sale. 

Some of the newer platforms are easy to use, streamlined and have maximised technology to create quick online process and user experiences.

2) Managing the sale of your home

We know some levels of social distancing will continue for some time.  Even when restrictions are reduced, open house events need to be carefully managed.  One on one inspections should be encouraged and continue to be the norm. They are easy to manage and offer the chance to communicate all the unique features of the home. 

3) Virtual tours as standard 

In exploring the idea of selling your own home, these will be some of your questions. 

How do I
  • Manage the marketing 
  • Manage the sale and the inspections 
  • Ensure as many eyes as possible view your property online?
  • Negotiate the sale
Some of these DIY online selling portals offer digital marketing, 3d photography and more importantly, high-quality virtual tours.  These virtual tours allow buyers to immerse themselves in your home thoroughly. They are effectively creating an online inspection. 

'Virtual tours allow you to take your lounge room into the Buyer's  lounge room.'  Selecting an online portal which offers the latest  Virtual Tours as a standard feature should be one of your primary selection criteria. You can see from the link here how they showcase the property and its features. 

A positive aspect of marketing you home via a virtual tour is they minimise the number of tyre kickers.  The buyers can fully immerse themselves and explore your home, deciding if this is a home suitable for their needs and worth inspecting.  Virtual tours attract the right buyers to the right properties.

We do know buyers who inspect a home after they have viewed a Virtual Tours, are one step further along the buying process.   They have made an emotional connection to the property before they have even walked in the front door. 

4) Valuation and Property Price Estimates

Next Address offers an integrated property price/valuation process and service.  An alliance with the 4th largest property valuation company in Australia WBP Group and Property advocate Greville Pabst enables all sellers on this platform to have this vital piece of information.

5) Communication Dashboards

Some of these DIY websites are building up databases of buyers so they can match and connect the two parties. They then send notifications to all parties. All these features give both parties control and visibility over the relationship, the property and the possible buying and selling transaction.  

One of the newer "Sell my own house" models has an inbuilt communication dashboard and a system for making and receiving offers to buy and sell, allowing both parties to communicate directly. They also have an inspection management tool.  This provided complete transparency as well as full vision and control over the process.

These dashboards even support and manage the storage of the relevant documents such as contracts of sale and building reports.   All these features guarantee control and complete transparency.

6) Smarter and Affordable Online Marketing Alternatives

Also, consider which marketing portals and social media platforms these smart DIY online websites services use.  The traditional real estate portals are extremely expensive and have restrictive time limits on some of their marketing. Choose one who uses the major portals but not paying for large ads to compete with the multinational agencies.

Now, more than ever, there are many different marketing options such as Facebook, and the old portals now have some stiff competition.

It may be worth considering a DIY website which has an alliance with one of the more affordable online marketing websites such as Homely or Gifang.  

Homely also has a compelling suburb review feature, which is undoubtedly helpful when considering a move to a new suburb or region.

7) Save money -Affordability and Costs

These online property websites are incredibly affordable. They offer a set fee base rate and most have the marketing included. Depending on your homes location and price point, you can save yourself considerable money selling your own home.  The savings can range anywhere from $15K to $60,000 or more. 

In this emotionally and financially challenging time, reflecting on what is important to us has become part of our daily mantra. Considering ways to save money is part of this new situation. 

8) Service Model not Commission 

Finally, a number of the more sophisticated 'sell my home' models have strong relationships with real estate agents they trust.  These estate agents act more like property advocates.  Rather than a commission, they work for a fee for service.  You choose what you need from managing inspections to supporting you through the negotiation process.

If you are considering a move and are keen to understand what is right for you, do your research.  There are many DIY options from the cheap and cheerful to the more sophisticated.  There will be one that suits your situation, style and budget.

Written by Julie O'Donohue



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