While apartments in inner-city Sydney will always attract potential buyers, the current market requires a strategic approach to ensure a timely sale. With more property on the market and more competitive prices, buyers now have plenty of choice. As a seller, you need to work harder to grab their attention.
Price-wise, it’s essential to position your property correctly, to ensure it attracts attention from the outset and ideally some competition between potential buyers. As agents who specialise in the inner-city, we sell everything from one-bedroom apartments and studios to luxury off-the-plan penthouses, so we know exactly how and where to position your property for the best result.
Here are three things you need to remember when marketing your apartment to sell:
Presentation is everything
The majority of buyers will begin their apartment search online, so making a great first impression is essential. Along with professional real estate photography, we often advise including a 3D walk-through and video of the apartment online to showcase its unique features and entice potential buyers to come and see it for themselves.
Floorplans, professionally written copy with a clear and compelling description of the property, and an overview of the location complete the package. These features give serious buyers everything they need to assess the property’s suitability.
Ease of accessibility
If you are selling an investment property, it’s tempting to maintain your rental income by selling your property with a tenant in place. However, this can work against you in the long term. With presentation being so important, a lived-in apartment may not present the best possible picture, and will also make it harder for potential buyers to imagine themselves living there.
Selling a leased property will also necessitate negotiating with your tenant for suitable access times. This can be off-putting to buyers with busy lives, who often want to view an apartment a few times before making their decision. It also puts your property at a disadvantage against untenanted ones that can be viewed at any time.
While you will lose some rental income, in our experience a vacant, well-presented apartment that’s easily accessible for viewings will attract a higher sales price, making this the smart option in a crowded market.
Make it easy for your buyers to choose your home
Buyers in today’s market can afford to be choosy. Apartment hunters in the inner-city tend to be seeking convenience and a place they can move into immediately.
Buyers also appreciate cost certainty, so a property where all the work has been done for them will appeal more than one that needs extra work once they’ve bought it.
Time is also a factor here — a young couple who both have full time jobs don’t want to move into the city and spend their weekends renovating. They want to unpack and get on with their lives.
To create a good first impression, a fresh coat of paint is a worthwhile investment when selling your Sydney apartment, along with new or restored flooring and sparkling clean windows. Small cosmetic updates and repairs will also work in your favour — regrout the bathroom tiles, replace any tired-looking fittings, and clean thoroughly.
We also recommend investing in the services of a professional and experience stylist to stage your property to ensure that it really stands out during open homes and in the marketing materials. Our agency have trusted stylists who we can connect you with.
A home where all the work has been done will appeal to a wider market, not just the bargain hunters looking for a ‘fixer upper’. Time and money spent before you go to market will generally pay off in your ultimate sales price.
Talk to us
We are always happy to talk to property owners looking for confidential advice and insights into the current state of the Sydney market. Please feel free to give us a call today. We look forward to helping you achieve your goals.