Qualified advice: the key to success in property market

KEEPING up with the latest on buying & selling property can be a difficult ask, so here are some tips from real estate agent & property lover Tiffany Krause.

Talking about buying, selling and renovating property has become a national pastime despite the fact that home-owners only enter the property market a few occasions in their lifetime.

With laws and trends changing continually it can be difficult to figure out just what is happening in the current market if you only ‘dip your toe’ in the water every once in awhile.

With the spring selling season now upon us, there are many myths which make it even harder to wade through the process.

One of the best ways to come through the selling process unscathed is to seek professional advice.

Some sellers think they don’t need a real estate agent and can do it themselves particularly with the introduction of inexperienced ‘sell your own home’ websites.

The main motivation to engage a real estate professional is to negotiate the highest market value on your behalf, thus removing any emotion from the equation.

Negotiating the sale price is the most crucial part and it is imperative that you get it right.

Many sellers seek to maximise the sale price by undertaking renovations prior to going to market.

A quality renovation will achieve a better financial outcome than most DIY projects.

Quite often, it would be better for a seller to leave their paintbrush in the toolbox and engage a licensed professional.

The key factor is to know the current value range of your home and consider what changes you think are necessary and factor in the cost.

Renovating can sometimes be tricky, stressful and expensive.

Only undertake these works if you feel it will add value and would be more appealing to buyers.

That’s why it is recommended that you talk to a real estate professional prior to undertaking any renovations.

There are some property myths as to how much your home is worth.

Every seller thinks their home is special. Competitive pricing is the key to a hassle free and successful sale.

Homes with above-market price tags ultimately sell for a much lower price.

The longer a property is on the market, buyers will perceive there is either something wrong with it or it is overpriced.

Many home-owners still have the misconception that a property doubles in value every 10 years however in reality it is far more complex and unpredictable. Market conditions continually evolve. There are property cycles with highs and lows.

If you sell and buy in the same market all things are equal.

Right now in the Toowoomba property cycle, prices have stabilised.

Price, promotion and position sells property.

Secure an experienced real estate professional who will accurately provide current market conditions and discuss all options available including establishing a strategic marketing plan to achieve the highest market price.

Market conditions continually evolve. Tiffany Krause, RE/MAX Success Sales Professional