15 things we learned from season 15 of Selling Houses Australia
Amid skyrocketing interest rates and plummeting property prices, hit TV show Selling Houses Australia has just battled through their most challenging season yet. This is what they learned.
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
The Selling Houses Australian team are just about to wrap up their 15th season of the hit lifestyle Foxtel show after a rollercoaster ride of rising interest rates and falling property prices led to their most challenging season yet.
This is what home experts Andrew Winter, Dennis Scott and Wendy Moore have learnt this time around.
ANDREW WINTER – ‘I WAS NERVOUS’
This season was certainly a rollercoaster of a ride and one of the most challenging we have faced.
We came off the tail end of the property boom last season (last year) and headed into a changing market on a downward cycle.
The season was flipped on its head as the residential housing market was taking a hit in both values and demand.
I was nervous that we would struggle to sell with the most challenging sales volumes of any season of Selling Houses Australia.
There’s the classic Queenslander in Elanora chock-full of clutter with homeowner Jenni who just cannot move on, the country home that’s dropped 25 per cent in value and was still falling in Clermont Qld.
The Sydney home untouched for over fifty years in Greystanes, and the Melbourne property that’s more demolition site than family home in Sunshine West.
As we head to the last episode (tonight) in Roselands, a South Western suburb in Sydney, we see Mary and Tom, hardworking parents of three grown children trying to sell their home. After saving for many years, they finally purchased their two-storey dream home and eight years on they need to sell as Mary received unfortunate news that she has been diagnosed with a degenerative disease which affects her mobility.
They now need to downsize to a home which is more mobile friendly for Mary and go mortgage free so they can think about retiring – so will this home sell?
The final episode of the 15th series of Selling Houses Australia airs tonight (Wednesday) on Foxtel at 8.30pm or On Demand
ANDREW WINTER’S PROPERTY MARKET TIPS FOR 2023:
1. Don’t hang out for a higher price- the early offers are often the best
Hanging on for a higher price is understandable when the home is transformed from a makeover and after all the hard work and money thrown into the home.
However traditionally in almost all market conditions, even often a booming market, the early offers are the best.
If the market is booming and you’re selling the offers will be booming. If the market is gloomy and you’re selling the offers will be gloomy.
Generally, it is the early days of marketing when you get the prime amount of interest.
2. You can’t beat the market
Yes, we are Selling Houses Australia, and at the core of it we help to change homeowners lives by giving them the best chance to sell their home.
In every situation the home is unsellable, and the homeowners find themselves in desperate situations, often financial, needing to sell their home.
So, while everyone expects a sold sign at the end, as we know, life can throw curveballs and perhaps you should consider and keep open-minded to other alternative options which may present themselves.
3. Consider alternative options
This is what happened in this season, for example the episode at Como, where Gareth and Ester were desperately trying to sell their outdated eight bedroom home which did not even get a bid at their auction.
They were holding out for a higher price when it was all renovated, however, they were able to get a really good rental figure for it, which meant they could actually in the short term carry on with their plans.
So, keep an open mind.
4. There is no secret marketing anymore …
Everything is at the click of a button, and anyone can Google your address.
People can find out what people paid for the home, how long it has been on the market, if it’s been on the market before, if the home has ever had prices listed.
Obviously the longer a home has been on the market, the more tired it gets and the less urgency.
Even if you take it off the market and if you’ve listed last year, gave up and tried again, buyers may easily discover those failed sales campaigns and feel a sense that they may be in the driver’s seat with negotiations now.
5. As hard as it is to swallow, expect to possibly go under price expectation.
That is the final take away from this season and the fact that Wendy and Dennis did a lot more whingeing this season (just joking). They were more under the pump than any other season.
We all know that I secretly love nothing more than when I know a house has sold, but for Wendy and Dennis hearing a home has sold straight away for a great price quickly, is like the biggest slap on the back for them and is instant gratification for all that effort they put into the makeover.
So, this season, a few of the homes did take a long time to sell, often months and months after the makeover, eventually selling under the expected price they were hoping for.
This reinforces that Selling Houses Australia is a market barometer, it always represents what’s going on in the market.
RELATED: Brutal reality for home sellers and buyers revealed
Last season was shot in 2022 during the booming market where everything was getting over the expected price.
This current season, the price expectations and expectation of a 100 per cent sales success was just not there.
This season a lot were going under price expectation and that’s hard for people to swallow, but when you are having to sell and, in most cases, due to financial reasons, this plays on all the points above, that perhaps you have to take a cut and not always hold out for more and manage those expectations, so you are able to move on with your life.
DENNIS SCOTT – ‘OFTEN THERE WAS A DISCONNECT’
This season we saw so many homes whose exteriors had been neglected.
From no street appeal, which put buyers off, to backyards which had almost been forgotten. All of the homes on the current season of Selling Houses Australia needed some TLC to help our homeowners sell their home, by making it more inviting and not being put off by entering the home and by being able to see themselves enjoy spending time outside.
Often it was a matter of new front yard turf, freshening up with a clean of exterior surfaces and garden, updating with a lovely paint scheme, using feature pots to enhance a front entrance, or painting the front door – and for one home (in Como NSW), adding a new garage door.
All these things can make such a huge difference to make a home so much more clean, crisp, and appealing.
Often there was a disconnect, so I worked closely with Wendy to bring the living outside.
In Maroubra (South Eastern Suburbs of Sydney) while Wendy did an amazing job inside, the asset which is the land that it was on, you just couldn’t see, so we cleaned up the backyard and used the concrete slab for a beautiful outdoor setting, added beautiful lawn and planted some hedges around the whole fence.
We softened the fence and hid it by painting it a dark colour which allows you to actually see through the fence instead of looking at it, and it gives you the sense of space.
LANDSCAPE EXPERT DENNIS SCOTT’S TOP GARDENING TIPS FOR 2023
6. Mow/Maintain
First impressions count, especially in your garden. I cannot break it down any simpler than this. Mow your lawns, and then maintain on a weekly basis during the sale’s period.
I know this may seem like an obvious statement, but you would be shocked what some sellers find an acceptable standard.
Look at getting in a contractor in for the initial clean up so the standard is set high, and you just have to keep it tidy.
7. Mulch is a must
There are so many varieties of mulch available, in my books though anything is better than nothing. I have even seen shredded newspaper used.
If accessible, my preference is a good quality organic mulch like Tea Tree or cypress fines. These can be found in bags or in bulk from your local landscape supplies yard.
Mulch should be applied at an approx. depth of 75mm, helping hold down the weeds and keeping moisture in your freshly prepared soil in the warmer months to come.
It will also break down and provide nutrients to both the soil and plants. But during a sales campaign it makes our gardens look amazing.
RELATED: Sydney leading Australia’s home price recovery - PropTrack
8. Less is more
Most houses we see it is a case of where do we start? In most cases the starting point begins with a simple de clutter both inside and out.
Remove rubbish and anything that isn’t needed, this will enable a future buyer to better see the property for what it is and not have to guess what they may have to do in the future. Sounds easy, well it is but actually doing this is the hard part.
Start somewhere and then let the inspiration flow from there.
9. Seek professional help
The difference that good staging makes both inside and out is incredible, and my partner in crime is bloody awesome.
I have learnt so much during the last twelve months from the wonderful woman Wendy. It has helped me personally in my own business in refining my choices.
Furniture is a personal choice and yours, while comfortable, may not be the best fit or style to maximise the buyer’s interest.
Pay for staging and I can definitely say it is money well spent.
10. Listen to your agent
Find an agent that isn’t going to piss in your pocket and tell you what you want to hear. Choose an agent that has a realistic approach and has evidence to back his guide pricing up.
It is a pointless exercise for an agent to stroke your ego and give you a high guide price, but when it comes time to walk the walk, they are unable to achieve their lofty lies.
My little buddy Andrew, while useless with anything that is in the handy man or sport category, he is a wealth of knowledge regarding real estate. His passion and experience will see me asking his advice if and when I ever decide to sell.
WENDY MOORE – ‘CLEANLINESS – IT MATTERS’
11. Make sure you know what the problem actually is (why you can’t sell)!
Listen to your Real Estate Agent, and make sure you get feedback from buyers.
That way you can be sure that you’re investing time and money on the areas that will actually make a difference.
Often we get a bit blind to the issues in our own home – but for a prospective buyer – it’s a complete turn off.
Our Greystanes home was a great example, they were completely used to living with an outdoor toilet! But for anyone looking to live there – it was a BIG FAT NO GO!
12. Paint makes perfect
Fresh paint and a modern colour scheme instantly transforms a space. In fact, with some rooms, this is all that’s needed to completely turn around an outdated, unloved room. It’s cheap, easy and definitely DIY!
13. Tackle the big canvases
When you have a large home, like we did with Como and Redlands, rather than trying to spend lots of our budget on one room, it was actually best to invest our money on the biggest canvasses, the walls and the floors. Re finishing or replacing a floor makes a huge difference to the whole home and makes the property feel less overwhelming for prospective buyers.
14. Clean!
You know what they say about cleanliness – it matters.
A clean, well maintained home feels loved, and a loved home is more attractive to prospective buyers.
Clean everything, your drawers, your floors and especially your windows.
Clean windows with new blinds or curtains makes a huge difference for a small investment and a good amount of elbow grease – take the time and get the return!
15. Colour, colour, colour
A well chosen colour scheme creates a mood, and a mood can sell a home.
Get some professional help if you’re not confident, and choose a scheme that feels calming and soothing.
Greens and blues are a very safe starting point, as is a monochrome scheme, the soft coastal scheme we did at Terrigal is simple and beautiful and all you need is to add some welcoming texture and you’ve created a lovely home.
The final episode of the 15th series of Selling Houses Australia airs tonight (Wednesday) on Foxtel at 8.30pm or On Demand.~
Originally published as 15 things we learned from season 15 of Selling Houses Australia
First look: New Coast shopping centre for surprise site
A long-empty site in a surprise location will be transformed into a retail showroom complex under fresh plans lodged with the council. FIND OUT WHERE
Revealed: How much rent you need to pay in every Qld suburb
Rents have increased again in 252 Queensland suburbs, reversing the brief downward trend recorded just three months ago. See how your suburb compares!