What an interesting year it was in 2019 for the Real Estate market. For the first half there was a lot of apprehension with long campaigns, low stock levels and disappointing sale prices. Then the second half of the year delivered some lucky vendors record-breaking results!
This momentum and excitement may have encouraged you to put your property on the market in early 2020, well here are some tips and advice before your campaign kicks off.
Market forecast
On the heels of a significant rebound in the Sydney and Melbourne markets in the second half of 2019, Domain economist Trent Wiltshire is expecting a gradual influx of new listings in 2020 as vendor confidence picks up.
Wiltshire puts the turnaround down to the three interest rate cuts and the expectation that the Reserve Bank will cut rates even further in 2020.
What are buyers looking for?
The wishlist's of many clients at the moment are good school zones, proximity to a train station, home security features, home offices and in some cases, a multipurpose “wellness” room.
An increasing number of buyers are seeking single-storey homes and smaller block sizes to reduce time spent on garden maintenance.
Renovations are not so much on the cards at the moment, with many buyers interested in everything being brand-new, shiny and ready to move in!
Presentation is key
With buyers conducting their first inspection online via property portals, it’s more important than ever to nail the presentation.
More and more buyers are too busy to worry about minor renovations and alterations but rather have something shiny and very presentable.
We are seeing more vendors going above and beyond to capture this interest by hiring staging and stylist.
Declutter and depersonalise
Properties that are too personalised or have a unique fitout are often harder for buyers to connect with. Remove the items personal family pieces, any paperwork, limit family photos and try to make the home as neutral as possible to appeal to buyers trying to visualise themselves in the home.
Clean and prep
The holidays provide the perfect window for the clearing of cobwebs, a lick of paint and a garden overhaul. First impressions really do count - so stand back and take a look at your home with a fresh set of eyes.
Your home has to be immaculate - so dust those shelves, trim the hedges, clean the cobwebs and hand prints - even polish up those appliances!
It is also a great idea to get a Pest and Building report done to ensure there are no issues "beneath the surface".
Don’t forget to pay attention to your outdoor areas in the summer selling season when buyers are looking for lifestyle attributes!
Talk to agents
The Christmas break is also an ideal time to start talking to local agents to determine who will manage your campaign when you’re ready to list.
Do your research and look for “the best local agents” – those with substance beyond an agency’s brand marketing.
Agents who are great listeners, superb communicators, passionate, committed, hard-working, good problem solvers and knowledgeable and experienced in the local market.
