Your Questions Answered - Wythes Real Estate

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YOUR PROPERTY QUESTIONS answered LIVE!

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What are the most common mistakes that home sellers make?

That’s a tough one. Things I see time and time again is probably one of the most classic ones – “You can’t sell a secret”. So a lot of the time sellers might be concerned they don’t want a sign, they might be concerned they don’t want the neighbours to know. The people that know your property is for sale, the better results you’ll get –  so you want maximum exposure. You want every buyer in the market to see your property so you can guarantee that you are getting the best out of the market.

 

Why should I own a rental property in the Noosa Hinterland? 

Well, I might be a little bit biased but the Noosa Hinterland is the best. We have the best lifestyle here and the other great thing is we’re so close to all that Noosa has to offer as well. We feel a world away in the Hinterland but certainly, it’s just a short drive, within 15 minutes you’re at Noosa Main Beach, enjoying the beach and cafe lifestyle there too.

 

I was wondering if it is better to auction or sell a house?

I am a strong action agent, I have had quite a lot of success with auctioning properties. There are a few reasons why you may auction. If the seller is looking for cash and an unconditional contract. They may need to sell quickly to purchase something else, that is a good reason to sell by auction because they have a set date of when you know the property will sell.

 

How long does it take to sell a house? 

That is a good one, especially in this market, because sometimes people sell off-market and sell on the first day. I think that’s a bad move. I think the best way to do this marketing is to get it out there for everybody to look at. If you do that, you’re going to achieve a better price for your property, because at the moment you’re actually going on agent’s opinion and your own opinion, but when you’re going to the market you get everybody’s opinion. So if you do your marketing right, get it on the internet, have your first open house and that will guide you for the first few weeks. You’ll get a really strong buyer’s market.

 

I haven’t lived on acreage before but love the idea of it. Anything I should consider? 

Great question! I actually live on acreage and it’s the best thing I’ve ever done. A lot of properties don’t have town water, for instance, so we rely heavily on the heavens for rainwater. If you’re on acreage there’s going to be a large amount of lawn to mow – so you’ll need a good mower or a really good mowing man. 

 

Hi Caroline what does cash and unconditional mean?

Great question! So when an offer comes in on a property sometimes there are conditions attached to that offer and could be subject to sale, subject to finance. They may be trying to get the money together for the mortgage and they need the bank to have time to prepare all of those documents so they can meet the requirements of the offer. They also may want to do a building and pest inspection to understand what’s in the property and they also attach how many days they need to complete those conditions. A cash and unconditional offer means there is no finance clause, so they’re not reliant on any financial institution and they’re also not wanting to put in building and pest limitations or they don’t want to do any searches. So effectively, the offer goes unconditional straight away and you cruise on into the settlement. You normally put in how many days you need to settle. There are no conditions that the contract is reliant upon. It’s a good one to get a cash and unconditional offer.

 

Are virtual tours an effective tool for selling a home?

Yes, they are fantastic! In the last year, I’ve really tried to become stronger with my video communication, because I’ve found that having that extra detail with people who’ve been locked down, and who’ve not been able to come up, not able to view, not been able to come to inspections but still being able to give a personal touch they are able to communicate and have a conversation with me while I give them a virtual tour of the home. So I do it by Facebook, WhatsApp or Facetime. In the last 6 months, I’ve sold 5 properties to interstate buyers by virtual inspection. I have had some really lovely feedback. One of my buyers said they were even happier when they saw their home in the flesh. So I think virtual tours are key for selling in the 21st century.

 

Why would a property’s sale price not equal its market value?

The sale price is what someone pays for the house and I would say what you’re talking about with market value is an appraisal. Usually, a seller will ask an agent to get an appraisal of their property and have an idea of what the property might sell for in the current market. Now we can give you a logical price backed by comparisons and justifications for what that property should sell for, but when you’re in a market like we are at the moment and particularly last year, that doesn’t take into account the emotional price – that frenzy and that fear of missing out that buyers experienced a lot last year and still will this year. So there can be a real difference between what the property ends up selling for and what the property was appraised for. 

 

Should I sell my current home before I buy a new one?

It is a better way of doing it because you’ll get a better result when you’re buying in a different area. If you’ve got the power of cash it does make it a lot easier and you’ll actually get a better result from your side as well. If you’re going to buy subject to sale, you’ll get a better option with marketing as well as getting your dream home. This is a question we get asked a lot, especially in this market. So many buyers are missing out so you need to have your ducks in a row. We have so many options where the sellers rent back from their buyers.

 

Why are people drawn to the Noosa Hinterland property market?

Good question! It’s a beautiful part of Australia and we’ve got bush to beach. If you love the bush, we’ve got lots of options up into the Noosa Hinterland. We have such a great lifestyle. We have so many beaches, bushland settings with horse trails and bike tracks. There’s just so much for us to explore. If you’re in a week of isolation in the Noosa Hinterland, it doesn’t feel as restrictive.

 

If you have more questions and would like to speak with one of our expert agents, contact us today!

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