Before you go with the rule of property about “location, location, location” why not try a little “research, research, research” first. The homework part might be a little boring but if you want to do well at property it pays to study hard.
Most people think that selling you home is simple and doesn’t require must research. However it doesn’t just involve sticking up a sign and waiting for the buyers to come rolling in. Even in good times for the markets, it is not wise to ignore the research rule.
Researching before you sell can tell you everything you need to know and more. It can help you understand how much your home is worth, if you should quote a price when selling, and the best way to sell your home.
Questions will arise for you such as if you should ask for ‘offers over’ or list a price, or leave it open. You will also find yourself asking if you should sell it privately, through an agent, or go to auction. Do you think you may need a design consultant or do some renovations before selling? And who are the best agents or auctioneers to go to?
There is a way of researching all these things without switching on your computer screen and typing them in. And the information will be current, freely available, and very local. The secrets and answers are in your local newspaper! If you check out the competition you will find all the answers you need.
If you check the papers in your area you can find what is currently for sale and how it is being sold, similar homes to your own, and how much they are selling for.
To get started with this you can search for homes with a similar size to yours, such as rooms and block sizes. If you want to sell for a particular price, look at homes for sale at that price and just above and below.
Even if you are in an area where there are predominately auctions and you have no prices to go by, search for similar homes and see what the competition is like. You can ring up the agents and ask what some homes may have sold for as well and if they are feeling nice they may tell you.
You will be surprised at the information available, such as floor plans, pictures, and prices so you will be able to get a real insight into what your home really may be worth and you can make sure you do not sell for under the asking prices. However, the information should also be interpreted from the point of view of the buyer and can help if you think about it from their perspective and value for money.
Sometimes comparing your home can be very revealing and a bit of a reality check but will help you to understand the true value of your home, how best to sell it and what works in your area to be competitive and possibly save or earn yourself a bit of money in the end.