Australia's spring selling season has kicked off and home sellers will need to get their properties ready for buyers, as more homes hit the market.
The arrival of spring marks a significant gear change for Australia’s real estate market, as it switches from the sleepy winter period to its busiest time of year.
Home sellers have traditionally preferred to list their properties for sale between September and November when their gardens look their best and pent-up buyer demand is at its peak following the dormant cooler months.
The latest listings data shows that this spring is set to be busy, with new home listings rising 12% nationally in July compared to the same time last year, according to PropTrack.
So to help you get your property ready for this spring rush, high-profile real estate experts from around the country have shared their top tips for home sellers.
Presentation matters
Making your home stand out from the crowd to appeal to the biggest pool of buyers is one of the easiest steps that sellers can do.
Brisbane-based real estate agent and Place Estate Agents managing director Sarah Hackett said presenting your home at its best was a sure-fire way to boost your sale price.
The spring selling season is a busy period for home sellers. Picture: Getty
Ms Hackett said sellers should spend at least a few weekends sprucing up their home, including rearranging furniture, decluttering, adding greenery, updating fixtures and giving the home a fresh lick of paint.
“For all of the things that you spend money on, you will get a return on because buyers are time poor and just want things done quickly,” Ms Hackett said.
“One of the best bangs for your buck is getting a stylist in, as well as some hired furniture.
Place Estate Agents managing director Sarah Hackett said good home presentation was essential. Picture: Supplied
“Stylists will work with your existing furniture too, so you don't have to get rid of everything. They work really well and I've always achieved a return on getting a stylist in, even if it’s just rearranging the furniture to make sure everything flows.”
Ms Hackett said most people were outdoor entertainers, and encouraged sellers to make their outdoor entertaining spaces look their best, whether it’s a veranda, deck, gardens or lawn.
Price is right
Home price growth has been slowing down across the country and that can influence how buyers and sellers think about property prices.
And it goes without saying that buyers and sellers aren’t always on the same page when it comes to price, according to Sydney-based real estate expert and BresicWhitney chief executive Thomas McGlynn.
“There is a gap that has appeared between buyers' expectations and sellers' expectations and that isn’t necessarily a bad thing,” Mr McGlynn said.
“It just means that sellers still think their properties are worth more than buyers think they're worth.
BresicWhitney chief executive Thomas McGlynn said sellers needed to be realistic on pricing. Picture: Supplied
“The good news is that sellers have an opportunity to sell, however they’re generally having to adjust expectations from their initial thoughts on price.
“This just means we're in a healthy market, and the appetite from both buyers and sellers is there but they're just taking a bit longer to come to an agreement.”
Understand your market
Even in red-hot markets like Perth where competition is strong, home sellers still need to research market conditions if they want to get the best sale price for their home.
Perth-based real estate agent and Duet Property Group director Michelle Kerr said sellers had high expectations on price and days on market in the Western Australian capital city.
Duet Property Group director Michelle Kerr said sellers needed to consider their local market conditions carefully. Picture: Supplied
“My advice for sellers would be that even though we are in a very strong property market, if you are in a home that requires some work, it is still financially beneficial to have that done before you go to market,” Ms Kerr said.
“Buyers are generally not as receptive to homes that require work and renovation, as the cost and time delays securing trades in Western Australia is still a major factor in our building industry.”
Remember the three Ps
The spring selling season may have started this week, but there’s still time to list your home for sale if you’re sitting on the fence.
Melbourne-based real estate agent and Jellis Craig chief executive Andrew McCann said selling conditions were positive for vendors right now because the arrival of new stock meant sellers had more options to choose from if they did sell their home.
“To get the ball rolling, the three P's of price, presentation and process always ring true for me when it comes to planning a sale,” Mr McCann said.
Jellis Craig chief executive Andrew McCann said sellers should remember the three P's: price, presentation and process. Picture: Supplied
“If you have a sensible property price, if you've got the presentation right and you have good photography, property styling and maintenance, and then you have a process that is sensible as a selling strategy, then you should be rewarded in a market like this.
“As a seller, you should be entering the market with some confidence because the buyer pool is there, and people are willing to purchase.
“People are looking to get on with things more so this year than they were last year, where there was a little bit more concern about the interest rate environment and the economy, so it feels to me like there's more confidence on the buyer side at the moment.”
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