Howdy everyone, it’s Naomi Findlay here!
So, you’ve put in all the upgrades, the kitchen is looking slick, as is the awesome outdoor entertainment space. You’ve even got the home staging stuff sorted. Your buyers will be jumping over each other to take the property off your hands – and leave you with a nice profit.
Now, how do you make sure that you get the best return that you can possibly get? Who are you putting in charge of making sure your potential buyers see the property in the best possible light?
You’ve put in all this effort leading up to this point in time, researching and renovating. The last thing you want to do is make a mistake when it comes to selling. A wrong move here and it can undo a lot of the hard work you put in – and cost you thousands in lost profit too.
It’s all about the marketing.
Apple may have invented the coolest tech products out there, but if Steve Jobs hadn’t put in the effort to show them off, nobody would have a clue that it exists now. And it wasn’t just sticking flyers on university dorms hoping that people would notice. There was a lot of planning involved.
The same goes with your newly renovated property. Just because you have an amazing property that you have renovated, that doesn’t mean that it will naturally attract your target buyers.
It can only be a magnet to buyers if it has been presented to them. Only then will your property be the apple of the buyer’s eye.
So, how do you make sure you the necessary exposure for your property?
Get a good agent.
This may sound like some pretty obvious advice, but a good agent is absolutely essential when it comes to renovating for wealth.
And just like with any other profession, there are good agents and not-so-good ones. Picking the right one can mean the difference between your property sitting on the market for months on end and your property being snapped up in a couple of weeks. The former will eat into your profits, the latter will have you moving onto your next renovation project with some deep pockets.
Choosing the right agent is so important if you want to get the highest possible price for your property with the least amount of stress. And once you have found the right one it will make things easier down the track if you are planning to stay in the renovating game.
A good agent is a lifelong connection.
Having a good agent up your sleeve extends beyond just the selling side of things. A great real estate agent can help you find leads for your next renovation project. They can even help you with the negotiating side of things.
So, how do you get a hold of this golden agent?
Do your research.
Just like with everything else you have done surrounding your renovation project, doing your research is super important. The more you do now, the smoother things will run for you when selling and beyond.
Luckily, finding the right agent isn’t as difficult as locating a needle in a haystack. That’s because when you are selling a property, you tend to go for an agent who is an expert in that particular area. I don’t mean a guru in real estate (which they should be), but one who knows that particular suburb like the back of his hand.
You could start by looking up other properties currently selling in the area. Online databases like realestate.com.au and Domain will give you the names, contact details – even the photos – of the agents who are working on those properties.
Now, your research doesn’t end there. Looking at these databases will give you a good idea of who is available to you, but it doesn’t give you much more than that.
One of the BEST ways to narrow down your search is to get physical. And I mean getting physical by showing up to open homes.
Attend open house inspections.
By being present at these inspections you will not only be able to see the types of houses that particular agent is selling, but you will also be able to get a very good picture of how they treat both the home and their clients. And that information is priceless. That’s the stuff that will help you decide whether you go with agent A or agent B.
You don’t have to go to freshly renovated houses or ones that have 4 bedrooms like yours. This is a way for you to gauge how the agent shows off his listings and deals with potential buyers.
Imagine you are David Attenborough; you are observing the agents in their natural habitat. You aren’t interfering, just making mental notes for yourself.
Here are some of the things you should be noting down.
1. How does the real estate agent communicate with potential buyers?
When it comes to buying a property, potential buyers like to view homes in their own way. Some like it when the agent gives them a lot of guidance and explains everything, while others like to be left alone until they have questions.
You should observe how the agent communicates with the different types of people coming through. Is he using the same exact approach to all of them, or is he catering to match the buyers? Can you see him selling your home in that approach?
2. How is the agent acting at the inspection?
Communication between people goes beyond just talking. Body language plays a huge role in making people feel comfortable and enthusiasm is addictive.
Is the agent bubble and excited about the property? Or is he using the same mono-tone voice with everyone and practically throwing flyers at buyers. First impressions count. And it’s not just the first impression of your house, but also of the person you choose to represent both you and your property.
Buyers will feel disinterested if they get a disinterested vibe from the agent.
3. Is the agent doing follow-ups?
Did you get a call after you attended the inspection? Follow ups are a good way to remind buyers about the property they just saw, and give them more information that maybe they didn’t have a chance to get during the inspection.
Plus, if a buyer is really interested they will want to know more about the property, and a follow-up call is a great way to fuel that interest.
4. Was the agent on time?
Always keep in mind that potential buyers are busy. They might have plans to attend five different property inspections in the one day, and they can’t afford to wait for an agent who is running late.
Punctuality is key in a lot of things in life, and open inspections are definitely one of them. Sure, traffic happens, but if the agent has been in the business long enough he would know that the sale of the property is banking on him being on time. Potential buyers who are kept waiting become frustrated ones; and these don’t lead to good profits for you.
5. Did the agent highlight the best parts of the property?
Lastly, you’ve put in a lot of effort renovating your property. The renovated kitchen and open plan living room are now standout features that you want to show off. They’re you’re strongest selling points for the property and you want them to be portrayed as such.
Look at how the agent highlights his open homes – is he doing a generic sweep or is he honing-in on the best features? Look at how the property has been shown on paper – do you think the photos do the property justice?
All of these questions and observations will help you zoom in on your perfect agent. And that agent will be an asset far beyond just selling your project at lightning speed and record price.