26 Feb AUCTIONS AND PROPERTY MAKEOVERS: PART 1
Have you ever wondered why there some properties manage to get sold well before an auction? What’s with all these excitement to buy? This article focuses on the unique characteristics of properties that get sold before even going under the hammer.
The Role of the Season
Common knowledge tells us that a popular time to buy a property is during spring. The environmental conditions are ideal for vendors to spruce up their properties, and the weather itself issues an invitation for everyone to get up and move about. On top of that, spring is often this season where properties are looking their best.
The Auction Success Differentiator
The likelihood of a property getting sold does not directly lie on the season when it gets listed. On a normal buy-sell transaction, the price still spells a property’s potential to finally gets sold. And in a season where every property seems to be selling, the only question remaining is how much it got sold for and if the sold price is something that vendors have been hoping for.
So in the perspective of maximising sale value, what factors are at play?
The Right Agent
Real estate agents have a keen eye on a property’s potential to hit the market. That potential includes opportunities to maximise a property’s value. As knowledgeable as they are, the smartest real estate agents are keen towards working with industry professionals to go above and beyond sales expectations.
The Right Price
Finding the right agent that pushes for a property’s maximised value is not easy. In an industry where the only way to sell a property is to keep its price at a competitive level, some are are oblivious to the idea that with price comes the potential for value – and with value, comes an increased justifiable sale.
The Right Presentation
Post-auction, there are papers to be signed and there are steps that need to be undertaken to ensure a smooth transition for the new owner. Going a step further back though, there’s also a set of steps that a vendor and a real estate agent must decide on if they are to maximise sale profit: pre-sale property presentation.
Some vendors opt to sell their property as is. With valuation in mind, the property’s present condition is the only way they can work out a price. But some vendors work with real estate agents to find ways to maximise their profit. In turn, real estate agents turn to property makeover specialists to make that dream come true.
The Role of Property Makeover Specialists
It’s simple: property makeover specialists find the hidden assets of a property, work their magic on it, and get the entire property to be as appealing as possible to a vendor’s target audience. This strategy adds value to the property and creates competition because of its aesthetic and physical appeal.
So it’s no longer a wonder why a growing number of vendors and real estate agents establish relationships with property makeover specialists. The critical role of the latter in making a property sellable is undeniable. Come the auction season, only the properties that offer the most value for the buyers’ money can get hammered to get ‘sold!’