In the world of real estate, there’s plenty of myths and misconceptions spread across the market, creating uncertainty about the best strategies to employ when selling property.
“At Atria, we know accurate information can help people to feel in control and empowered to make the best decisions for their situation. It’s why, at every chance we get, we aim to dispel those real estate myths that tend to mislead both buyers and sellers.” says Simone Chin, Director of Atria Real Estate.
Keep reading as we overturn five common myths about selling your home, with Melbourne’s unique property landscape front of mind.
Myth 1: “You don’t need to advertise online”
Some sellers believe that traditional marketing methods alone will suffice when marketing their property, and don’t want to invest in digital advertising. However, the truth is, advertising online is essential in today’s market.
While opens and brochures are a must and access to off-market buyers can be valuable, they represent only a fraction of the potential market out there. That is, potential buyers! Investing in advertising on platforms like realestate.com.au exposes your property to thousands of prospective buyers. This ensures that your property doesn’t remain a secret, increasing the likelihood of finding the perfect match. The team at Atria always recommends a combination of online advertising supported by traditional advertising plus engagement with off-market buyers to garner the best results for your sale.
Myth 2: “Don’t Sell in Winter”
Contrary to popular belief, selling in winter can be advantageous. With fewer listings on the market, motivated buyers are often more willing to act swiftly, potentially leading to higher prices. Not to mention, the colder months offer unique opportunities to showcase the property’s resilience and functionality in adverse weather conditions. Highlighting features like energy-efficient heating systems, well-insulated windows, and spacious indoor areas can reassure buyers of the property’s comfort and suitability year-round.
Sellers can leverage the season’s ambience by tastefully decorating the property with warm colours and soft textures, creating a welcoming atmosphere that resonates with prospective buyers.
Myth 3: “Setting a higher price will leave room for negotiation”
Setting the right price from the outset is crucial. Price it too high, and you risk scaring off potential buyers, who may perceive the property as overpriced and out of their budget. Conversely, pricing it too low could raise suspicions about your property’s condition or lead buyers to question its true value. If buyers are scared off from the get-go by the price, they won’t turn up to open houses, auctions, or other marketing events, significantly reducing the pool of potential buyers. Ultimately, pricing your property inaccurately could result in falling short of its true worth, leading to missed opportunities and prolonged time on the market.
Conducting thorough market research and seeking advice from experienced real estate professionals can help you determine the optimal price range and reserve. Remember, perception is key – a well-priced property signals value and attracts serious, quality buyers (the buyers you want showing up!).
Myth 4: “You Don’t Need to Stage Your Home to Sell”
Presentation matters, regardless of the property’s size or style. Whether it’s a penthouse apartment, a family home or a sprawling mansion, the way a home is presented can significantly impact its appeal to potential buyers. Staging your home is a powerful tool in enhancing its allure, as it allows buyers to envision themselves living in the space.
Simple steps like decluttering, depersonalising, and highlighting your property’s most attractive features can make a significant impact on potential buyer perception.
Myth 5: “Choose the Agent with the Lowest Fee”
When it comes to selecting a real estate agent, fees shouldn’t be the determining factor. Opting for the lowest fee may result in limited marketing reach, lack of negotiating skills, and reduced agent support. Instead, focus on an agent’s track record, market expertise, and communication skills. Remember, the right agent can make all the difference in maximising your property’s value and achieving a successful sale.
Atria is here to support you every step of the way. Contact us today on 03 8680 9421 to learn more about our comprehensive real estate services and start your journey towards a successful property sale.
