Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Selling at a Disadvantage

Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Selling at a Disadvantage

Article excerpt

Byline: Andrew Winter

IT'S time to sell the family estate, investment property or your first home.

Sometimes, not always, the property you're selling may have a marketing disadvantage. Features perceived as a negative or lacking a certain something that buyers see as a must have. This means you could be selling at a disadvantage. How would that impact on the eventual sale price or time it takes to sell your home? What can you do to minimise this effect?

Understanding and actually acknowledging any disadvantages with your home from the start will give you control and a greater understanding of true value and real demand that you can anticipate once your home is released to the buying public.

Selling at a disadvantage can fall into two categories. Category 1 is something totally out of your control and Category 2 you can influence and ultimately control.

Category 1: What are they? They could be a main road or noise impacted location, a high rise next door to your single level home, ugly neighbouring buildings or the worst street in the suburb, no parking space or potential to create any are all examples, there are of course many more.

What to do:

Expect to price/sell at a value that reflects the disadvantages. The chance of selling will be substantially increased as you will be offering a property type that would not normally be affordable for a buyer if it was disadvantage free.

If it is an aesthetic issue, try screening with fencing/planting to hide unsightly aspects. Let your property become a form of oasis, secluded from those visual disadvantages.

If the disadvantage is in the form of electricity pylons or re-zoning around you that could have a negative impact, find out the facts. By providing the information and adding to your marketing campaign information, sometimes the impact can be lessened.

For any noise issues, double glazing the home particularly on the side of the home most affected or again planting or fencing can reduce noise. …

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