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While it’s not uncommon for agents to advise improvements to the look and feel of a property pre-sale to maximise a sale price, it is unfortunately common for vendors to not have the resources needed to undertake them.
The founder of SaleFunder, Lucas McEntee, has acknowledged that, “too often, this advice falls on deaf ears”.
“Often, vendors may not undertake these projects because, despite what outward appearances may suggest, they simply don’t have the resources on hand to undertake them,” Mr McEntee said.
“That is to say, money is an impediment to following an agent’s advice or what they know will help them with a sale.”
According to Mr McEntee, such an issue can cost both the agent and the seller money, as well as be a frustration for both parties — especially where they understand that showing a property “in its best light” will attract the best price at any given time.
This is where the founder said SaleFunder can come in.
The specialised finance product “removes the immediate cost impediments of such investments, allowing vendors to follow the advice of agents that are working hard to help them maximise the sale price”, according to Mr McEntee.
But what are the best uses of such a cash injection?
While this does differ property to property and vendor to vendor, Mr McEntee has flagged three areas as “worthy of close consideration by vendors and their agents should finance be approved”.
1. Landscaping and/or painting
Strategic landscaping and paining can be the facelift or renovation a property needs.
Citing one case study, Mr McEntee said one Newport vendor had received a valuation of $1.05 million prior to sale.
After some strategic landscaping and painting as advised by the agent, the home sold for $1.2 million — a result not expected by the vendor.
2. Marketing and advertising
“Many vendors may undertake marketing and advertising of their property but not to the extent that their agent recommends due to cost impediments,” Mr McEntee acknowledged.
He said it’s often the case that the more eyeballs that land on a property — and the right eyeballs — the more interest that can be generated in the said property.
According to the founder, the use of specialised finance allows for new options to be put on the table for both the vendor and the agent to consider, removing the upfront cost of vendor paid advertising and marketing, enabling a more strategic and comprehensive campaign to be run.
3. Property styling and staging
While agents understand the benefits of styling and staging, Mr McEntee said many vendors see such a strategy as more of a luxury — one “that can come at a large cost in their mind”.
With finance, the founder expressed that vendors “can often take a different view on such things as styling and staging”, and therefore, more as an investment than an upfront cost.
All in all, the founder conceded that while the final price of any property will be dictated by the market, “that market may be a lot larger and lot more positive towards a property if it’s in great condition and marketed well”.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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