Agent tips for selling in 2015

With the New Year festivities done and dusted for another year, people across the country will once again be returning their focus to the property market. And while most aspects of listing your property for sale remain the same year after year, 2015 will be different from recent years past – and vendors would do well to sit up and take notice!

We asked the CEO of real estate network First National, Ray Ellis, for his tips on selling property in 2015.

Timeless tips

According to Mr Ellis, there are a few timeless factors all vendors should always look to address.

• “Make sure there won’t be any surprises when buyers obtain a building inspection report. You can do this by obtaining your own report before marketing commences, then make-good any problems that could discourage buyers or reduce their perception of value.”
• “Choose an agent with a solid track record for good communication, creative marketing, accurate appraisals and timely results.”

• “Properly prepare your property for sale. Check your street presentation and make sure it is first rate. Take a critical look at your interior furnishings and de-clutter. Make sure cupboards aren’t bursting and present your home as though it were a showroom. Talk to your agent for advice about how best to arrange your interiors to maximise light and the perception of space.”
• “Research recent local sales results to assure you have realistic expectations of your property’s likely sale price.”

New year, new market

The property market is showing signs of change compared to 2014, and Mr Ellis says vendors will need to adapt to these new conditions.

“The market is showing signs of slowing down, so it’s important to be realistic about the changing rate of price growth and how that will affect your home’s value. Although many market commentators anticipate further growth in prices this year, depending on where you are in Australia, the pace of growth may be constrained by growing affordability issues and rising unemployment.

What buyers want

“There’s a definite trend towards apartment living and a significant appetite for new buildings,” Mr Ellis says.

“Naturally, quality of finishes and communal amenities will be pivotal to success. Developments that provide attractive common property rooftop facilities and pet-friendly strata rules will definitely attract more owner-occupiers.

“However, as always, the demand for unrenovated houses, close to CBDs, will continue to be strong. Australians love to renovate, improve their home’s capital value and add their personal touch, but they’re not now demanding as large a property as they were a few years ago.”

As for the areas set for the best capital growth prospects, Mr Ellis believes the Sunshine State will lead the gains.

“Brisbane, Adelaide and Hobart are expected to improve, with Brisbane expected to top the average capital growth rates across the nation’s capital cities this year. However, rates of growth will likely trend down in Sydney and Melbourne.

“[Overall] prices are more likely to rise than fall in the near future, unless significant credit controls are introduced to the market or unemployment rises further. Market conditions should remain favourable and affordability generally high, but stock levels are rising and this may herald higher levels of vendor discounting.”

Ultimately, there is little to dissuade buyers and hence sellers from testing the market in 2015. As Mr Ellis points out, “It wouldn’t be unreasonable to anticipate buyer caution to be more evident this year, but looking at the situation historically, average Australians can still well afford residential property.”