6 expert tips for selling your home

The property market in Australia has been particularly varied in 2024. From the heated, fast-paced Perth market to the incredibly strong Adelaide and Brisbane markets, double-digit growth has rewarded owners. But vendors in Victoria and Tasmania could be forgiven for wondering what all the commentary about sellers' markets is all about. 

And then there are markets within markets. Some dwelling types outperform others while differing price points also show up in two-speed markets.  Our markets across the nation are not uniform, nor are they always predictable.

This year has demonstrated an overall resilience in most markets when we consider the impact of higher interest rates. Even Melbourne has held relatively firm considering the higher overall supply of listings on the market.

Despite interest rates and high inflation, strong buyer activity has fuelled many markets. CoreLogic's September Home Value Index shows that at 24.1% Perth's annualised growth has eclipsed all other capital city markets, while Melbourne and Hobart's negative median price performance (at -1.4% and -1.1%) has underpinned a lower national figure of 6.7%.

A lot of commentary throughout the year has related to the challenges in both buyers' and sellers' markets. Buyers who have been navigating FOMO conditions in the hot market cities have had their work cut out for them, while the slower markets have thrown vendors some tough curve balls.

Regardless of market conditions, there are a number of key things that buyers look for when shopping around for property. If you're considering selling your home by the end of the year, here are six insider tips that can help you secure a great price.

1. No obvious big items to spend money on fixing or replacing

Since the tradesperson and materials shortage following the pandemic, buyers are mindful of the potential for cost blowout. Overcapitalisation remains a key concern, as does the possibility of planning delays. Buyers are loath to take on renovation projects and added expenses. Factoring in the increased interest rates and the effect on borrowing capacity, many homebuyers are budgeting to their absolute maximum in order to find their ideal home. For many, the burden of taking on a property that requires extra work is something they don't have an appetite for.

2. A nice aesthetic when it comes to furniture and styling 

Buyers often tell me that they can visualise a beautiful interior, however, they are often proven wrong. An example I can cite relates to an off-market property that hadn't been cleaned out and styled. This Edwardian beauty needed a paint and clean, and the past owner's belongings were plentiful. As an off-market opportunity with a price tag of $1.2 million, the agents couldn't entice any buyers to make any offers. Within a couple of months, the vendors had employed a styling and renovation company. They applied some basic but effective changes including painting, new lights, polished floorboards and external power washing and gardening. The cost of these value-adds came in around $60,000 and the property was then taken to market via an auction campaign, selling above $1.5 million. The key bidders had all had the opportunity to buy the property before the improvements, yet they couldn't visualise beyond its cosmetic condition at the time. Vendors shouldn't ignore their agent's recommendation to consider decluttering, styling and sometimes partial cosmetic renovations.

3. Light and generous internal spaces

Comments that we often get from buyers are about "the vibe". More often than not, "vibe" relates to internal spaces, natural light, good floor plans, and high ceilings. Vendors can do a few simple things to enhance their natural light and sense of space. Firstly, addressing outdoor bushes, shrubs and overgrown gardens can have a significant impact. Arranging for windows to be cleaned makes a great difference too. Flyscreens can be detached and kept in a safe place until the property sells.

And when it comes to internal layout, removing excess furniture and possessions can add space to a cluttered room. Sometimes having an impartial friend walk through to offer decluttering advice can be a huge help too. We don't tend to notice our own surroundings because we get used to them.

4. Appealing facade

A pretty property with a great street presence is the first magnet that can attract buyers. Spending a little bit of time with gardens, lawns, and fences can work wonders. A tradesperson may be required to assist with fascias, downpipes, fences, roofing and gardens but first impressions really count. Buyers can become disenfranchised with a property before they even inspect it if they feel the exterior is unappealing.

5. Decent storage options

Buyers don't always pick up on storage when they first inspect a property, but buyers who shortlist a property will usually return for a second, and sometimes subsequent visit. It is at this stage that buyers explore the storage options and consider where they will place and store their own belongings. A property that falls short on storage options can quickly lose its potential buyers.

Vendors can solve storage shortage issues with clever workarounds. Installations of shelving, pantries, free-standing wardrobes and outdoor sheds can make a positive difference to a dwelling that is a bit tight on storage solutions.

6. Easy to arrange inspections

This last one seems easy but some vendors really struggle with private inspections. Limiting buyers to the scheduled open for inspections can be costly because buyers can't always be flexible, and sometimes buyers who discover a listing late in the piece can feel like it would be 'all too hard' with tough time pressure between the last open for inspection and auction day. A vendor who can be flexible for their agent to take buyers through on request may find themselves building a healthier list of genuine, prospective purchasers if they are able to manage keeping their property neat and available for inspection at a moment's notice.