When you decide to buy a home at auction, you have to treat it like an exam. And that means scrubbing up and doing your study! Knowing what properties are selling for around you is a key element of being a successful auction buyer, and there are several ways you can make this happen.
Ask an Agent
Speaking to your local agent is a quick and easy way to get yourself acquainted with the basics of the auction process. They can give you a clear picture of what is happening in your local market, recent auction results, local auction trends and clearance rates. They can explain the auction process, how it works, what is required and how best to prepare yourself. Agents live and breathe real estate so they are a great resource to tap into.
Checking Market Reports
Market reports are a fantastic for keeping up with regional market trends. They can provide you with information on the current state of the market, as well as predictions for which way it will swing. Most reports will cover key statistics such as median house prices, key market trends and much more. The knowledge gained from reports can be invaluable and can give you an edge over the competition.
Attend Some Auctions
One of the best ways to learn the ropes is to get down and see some auctions yourself. Contact your local real estate agent to find out where the next one is happening in your area and go along to watch how it plays out.
Websites like NSW Fair Trading are a great place to start when you wish to understand the legal processes behind auctions, as well as your rights and responsibilities. This is particularly important if you are bidding interstate, as there may be specific regulations you need to know.
Wherever you decide to conduct your auction homework, make sure you are thorough! Understand the prices and trends in an area, and you will have made a crucial step on the way to a winning bid. Knowledge is power, and you should take in as much as you can.
Even though sales outcomes tend to be stronger in spring, more sellers and a larger number of properties mean more competition for your property. This means you’ll still need to have a focused strategy to boost your chances of a great sale outcome. Ideally this strategy will include property staging and presentation. Follow these tips to maximise your property’s appeal to buyers.
Start with a complete spring clean to get your house ready for the sale. Clean glass doors and windows from the outside and inside. Remove cobwebs and give everything a good dusting and vacuum. Wash curtains and dust blinds, lighting, and other fixtures. Clean and polish door knobs, mirrors, switches, taps, and fittings.
Have your carpets professionally steam cleaned. Wipe down cupboards and all exterior and interior surfaces like closet doors as well as shelves and drawers. Pay particular attention to kitchens and bathrooms, and have your tiles and grouting cleaned by experts if necessary.
Increase curb appeal
First impressions count when it comes to buyers’ opinions, so make your exteriors stand out. Tidy up your front and back garden by clearing away any clutter from your front yard. Use a pressure washer to hose down driveways and garden pathways and make sure you remove any oil stains. Rake away dead leaves, prune dead winter growth, and do a thorough weeding. Have your roof and gutters cleaned by professionals. Remove any large bushes and trim away tree branches to clear the exterior view for prospective buyers.
Trim your lawn edges for a clean and orderly look. Fix dead, bald, or yellowing lawn patches by seeding and fertilising these spots. Adding small improvements like mulch can make a big difference while reducing the need for ongoing weeding. Get rid of any shabby-looking outdoor items like rusting deck chairs and creaking swing sets.
Consider repainting fences, exterior walls, and the letter box. For a pop of colour, add flowers and green shrubbery to your front garden. Don’t forget to fertilise your lawn and garden beds for vibrant springtime growth. Make an impact by introducing statement pots and plants to your entrance. Remember to keep up with watering to keep your lawn, flowers and trees to keep them looking their best.
Remove personal items
Take the opportunity to declutter your house by throwing away or donating anything you’re not using. Remove as many personal effects from your property as possible. Decluttering makes your interiors and storage spaces look more spacious, and depersonalising your home provides potential buyers with a blank canvas to imagine the house as theirs.
Remove family photos, souvenirs, and accolades. Consider putting oversized, worn-looking, or clashing furniture pieces into storage. Anything you leave, like clothing hanging in your closet and plates in cupboards, should be in good condition and tidily arranged.
Accessorize the interior
Staging your property allows you to target specific demographics and possibly achieve a better price. An experienced real estate agent is your best adviser when it comes to staging. He/she can pinpoint the special features and guide you on how to highlight these with staging.
So what exactly does staging involve? You could rent furniture, artwork, and additional accessories to accentuate your property’s top features. These can be used to repurpose rooms – such as turning an extra bedroom into a nursery or a home office – depending on your target demographic.
You can add basic touches yourself, such as updating old towels, rugs, and linen with new ones. Draw back the blinds to let in natural light and add fresh bouquets of flowers. During inspections, the agent might recommend added elements like relaxing music and pleasing aromas with baking cookies and freshly brewed coffee.
Do any necessary repairs and maintenance
Take an objective look at your interiors and note any flaws, defects, or damage. Repair leaky taps, loose doorknobs, and faulty light switches. Give damaged walls a fresh coat of paint, and consider having carpet stains removed by professionals. If you have timber flooring, think about having them restrained.
Work with an expert
A real estate agent works closely with you at every step of your sale, ensuring you’re staging and preparing your property correctly. He/she can check you’re working off an accurate value for your home and assist with your contracts and paperwork.
Spring is a busy time for both buyers and sellers, and your agent can help make your property stand out and successfully market it to your target demographic. In addition, you could have the full confidence that it’s truly the right time to sell if you have the help of a real estate expert who knows your local market.
Achieving a successful sale in spring
Spring is a preferred time to sell and buy, and as a seller, you could enhance your chances of getting a great price and achieving a faster sale by preparing your property in the right way. Decluttering, cleaning, and depersonalisation are essential strategies to apply, along with working with an experienced real estate agent.