Yarra Junction 
After the property price peaks of the pandemic and ten consecutive interest rate rises, it’s hardly surprising that Australian property prices have stopped rising.
If you purchased your home prior to the pandemic, it is more than likely you are ahead financially. However, with buyers being nervous because of interest rates and uncertain economic conditions, it may be a little trickier to sell than it was two years ago.
To make sure your home stands out to the buyers who are out there (and there are always buyers out there), the following steps will help:
PRICE YOUR PROPERTY CORRECTLY
In a slower market, setting the right price is key. Work with your Real Estate Agent to determine the right asking price based on the current market conditions and recent sales of comparable properties. Overpricing your property might cause buyers to overlook it and you risk having your listing go ‘stale’ to the point where you have to drop the price below the minimum you would have originally accepted.
MAKE NECESSARY REPAIRS & IMPROVEMENTS
In times when building materials and laborer’s are still in short supply, if you can provide a ‘turnkey’ home that doesn’t need any touch ups, you’ll have better chances of a rapid sale. Make sure your property is in good condition and make any necessary repairs or improvements that can enhance its value and appeal. This can include fixing leaky faucets, painting and decluttering. Pay attention to detail, right down to the state of the front door and entryway. You need people to see the home and think ‘wow’ as early as possible.
STAGE YOUR PROPERTY
Staging your property by bringing in a stylist to rearrange and add/remove furniture can help potential buyers to picture themselves living there. Hire a professional if you really want to impress, or use simple techniques such as decluttering, rearranging furniture and adding decorative elements that look modern — and put away personal knick-knacks and photographs.
INVEST IN MARKETING
High-quality photos and videos can help attract potential buyers by making your home unmissable online. Make sure the marketing highlights the home’s best assets and employ a copywriter to help write a compelling description that appeals to the target market. A good real estate agent will make sure your marketing reaches an international audience and that your listing appears on social media so that people can come across it, even if they’re not actively looking.
BE FLEXIBLE WITH OPEN HOME & SHOWINGS
Purchase-ready buyers who have been shopping for a while and are getting frustrated are often the ones who will make the best offer. They will be in touch with agents and might push to see the home before you feel ready to show it. If you can accommodate this by quickly putting personal belongings out of sight and cleaning the place up, you may be able to negotiate a fast sale. Of course, if you need absolute top dollar, you may discuss a different strategy with your agent.
WORK WITH A PROFESSIONAL
A good local real estate agent has the expertise, experience, and connections to help you sell your property and negotiate the best deal possible. They will be in touch with interested buyers and will work hard to make sure everyone who is interested sees the home.
It’s always possible to sell a home, even in the slowest of markets … and while prices may have settled down, there is plenty of interest from investors and buyers who have loan approval.
Contact Professionals Yarra Valley on 03 5967 1800 to discuss the sale of your home
