The decision to sell your property is an important ONE. The decision about which agent you choose to MARKET your property is even more important....
So, What’s Important to You?
Most Sellers I know what to know just 2 things.... Price & Fees! They are looking for the CHEAPEST AGENT and are only interested in the % of fees charged and the marketing expenses to promoted their property. Unfortunately these sellers don't take into consideration all the other factors mentioned above which are equally important.
Whilst Price and Fees are very important the decision made on how to get there is even more important. The diagram below is an example of a standard industry model which will help a seller decide on an asking price and the theory is:-
The higher the price, the fewer the buyers & the lower the price, the more buyers.
The type of market also needs to be taken into consideration before making the final decision. Get the price wrong and you could be either underselling your home or having it sit on the market while all your neighbours are selling.
The right agent will have the knowledge and experience to guide you to the right asking price and will also know what to do if the buyers are not responding to the marketing of your home. The wrong agent will cost you money either by underselling or by leaving it sit ON the market where it becomes stale and buyers stop looking instead of being IN the market where buyers show interest.
The right agent will know how to get many buyers interested enough to inspect your home instead of just a few. And as we know, the more buyers interested the more chance of getting a higher price!
Below is an example of what happened while marketing the home pictured above.
Agent A's property came to the market 1 day after Agent B's property. It was a 4 bedroom, 3 bathroom, double garage home with internal access, larger, newer, architecturally designed but in a slightly poorer location on the same street as Agent B's property which in comparison was a 3 bedroom, 2 bathroom, double garage with no internal access on a corner block with no privacy.
Agent A's property was listed at offers over $580,000 and Agent B's property was listed at offers over $560,00. The purchaser of Agent A's property offered $590,000 and had it accepted day 2 of going to the market and told Agent B that he was happy with his purchase because he felt the home was worth at least $20,000 more than the second property. Agent B received an offer of $600,000 on the first day of going to the market but still held the first open home where another 11 offers were extracted. Agent B's property ended up selling for $625,000. $35,000 more! And the purchaser of Agent A's property felt it should sell for $20,000 less so that's a real difference of $55,000.
So what happened?
Well, quite simply here are the facts. Agent A charged less to market the property opting for standard ads on Realestate.com.au and Domain.com.au and no advertisement in the newspaper. Agent B opted for an advertising campaign including Elite and Highlight ads on Domain and Realestate.com plus a 1/4 page ad in the Newcastle Herald. Agent B's marketing strategy resulted in 46 groups of buyers inspecting the property and 12 offers within 5 days. Because the buyers recognised they had competition on the home they had to compete. Whereas, the buyer of Agent A's property did not have to compete.
The graph below shows that even though Agent B charged more for marketing in the end it was Agent A who cost their vendor the most!
In this example, Agent A cost their vendor $31,725.
The cheapest agent is the ONE that gets you the best dollars in your bank at the end of the day! Not the agent who charges the least % on fees and the least marketing expenses!
Is Your Garage The Perfect Man’s Cave?
Over the years our cities and towns have evolved. Initially, they were designed for pedestrians however as technology became mainstream, they were transformed to our modern day designs highly driven by the automotive industry.
The Australian urban designs differ though. Most of our towns and cities have never had to undergo the major transformation. This means that they were designed from the very beginning for the typical Australian families generally consisting of a liveable and spacious home with a nice big backyard, a two car garage and a decent garden shed.
Many Australian men have however opted to forgo securing their cars in a locked up garage, leaving them parked either in the driveways or under adjacent carports. This allowed them to turn their precious car space into a hideaway where they can relax away from the hustle and bustle of family life partaking in activities such as watching the footy or cricket over a beer or tinkering over their next DIY project.
Does Owning A Garage Impact Your Property Value?
There is no set formula on what makes an Australian garage perfect. The simple reason is that garages will vary from person to person and will reflect their personalities as well as their practical requirements.
It is however very clear though that garages do add value to any property as more often than less, buyers look for these additional living and storage spaces when selecting their new home.
Workshopping Your Garage
Parking space allowances may vary on your local city council’s rules and regulations. For example, inner city units and apartments may have a limitation that is based on a bedroom per parking space ratio.
When building a new home, it’s always important to confirm the council rules and regulations surrounding parking spaces. A general rule though is to always look at this space as one that can maximise your living space by doubling up as a storage and or additional living space. For this reason, a lock up garage is usually the preferred option by most homeowners.
Practical Tips for Your Garage
If you are looking for additional living or storage space, a few basic additions such as shelves, hooks and even pictures to your garage can easily make the space more liveable. Reusing your old lounge, TV and fridge can turn that space into the ultimate Man’s Cave.
The bottom line is that a garage is a versatile space and can be easily transformed from a simple car storage space into a living space for the occupants of a home.
helps over 55's who are afraid of not having enough money for their retirement. She does this by selling their family home for a premium price using her proven marketing plans. Often her clients end up with more money than they expected allowing them to buy a new car or go on a dream holiday.