Selling with tenant still residing:
1. Tenant is entitled to 14 days’ notice in writing prior to listing.
2. It is very important to build trust with the tenant from the outset.
3. Our approach is to have a personal conversation with the tenants. This could occur at the property if the tenant agrees.
4. At this meeting we acknowledge the tenant’s rights and give an undertaking to respect them. We also discuss your right as a landlord and owner. We mutually agree on photography and Open Homes.
5. We ask the tenant if they would like to stay in the property, this is valuable information to share with prospective investors. We encourage the tenant to keep the place tidy which will increase the chances of securing another landlord to buy the property.
6. Its critical to have the tenants on-side and to respect their rights, especially quiet enjoyments.
Selling after the tenant vacates:
1. Sometimes the outgoing tenants don’t return the property exactly how they received it.
2. After inspecting the property we will be able to make some suggestions on how to maximise your sale price for the for the minimal outlay. This could mean gardens, lawns, high pressure cleaning and lighting.
List price:
Most buyers simply want to know the asking price. We do thorough research, factoring in the current market conditions. We have had great success in selling above the asking price.
Our experience tells us that prospective buyers regularly scroll through “New Listings” that hit the market. When “New Listings” hit the market, they push down the order to other listings already on the market, this could mean fewer views on your listing.
We also know that buyers these days are a lot wiser and can research current market values with the technologies at their disposal. It is also possible that they have attended “Open Homes” and Auctions so they may have a good idea of current market values. Buyers will possibly know if your property has been advertised at a realistic price.
We know how quickly the market can turn; it is seasonal. It is about supply Vs Demand. The economic factors that can impact this are Interest Rates, Inflation, Cost of living, Banks lending policies, Government Incentives, and political Elections, even Pandemics!
The danger arises where the property is listed above the recommended “List Price” and the market turns downwards. If your property I already overpriced this could make he asking price even more out of line with the market.
It’s also crucial for us to only compare the property to similar recent property sales i.e. “Apples to Apples.”
At Arnold Property we aim to create competition from the first “Open Home” This strategy has worked for us numerous times over the years. Getting multiple offers early in the campaign enables our Agents negotiate a higher price for our clients. Gone are the days of starting high and considering lower offers.
Would you like to know more? Please call Chris or Michael Arnold.
