As-is vs uplifted, and the why behind the gap

If we're talking about the market currently, we've seen a lot of fluctuations over the last few years - dating back to really 2020, where things were pretty crazy. We've had a lot of peaks and a lot of troughs, and the market now is very, very similar, if not below, what we were seeing in 2021. So presented as-is, the market value is maybe in that sort of $850,000 up to $900,000 bracket, just based on comparable sales within the area at this point in time.

From a price perspective, with the right work done, I'd have thought you'd be looking more at that $950,000 up to that $1,100,000 mark. The reason for the gap is the floor space: it's currently a three-bedroom, one-bathroom home with two very substantial living areas. If you convert one of those living rooms into a fourth bedroom and a bathroom, all of a sudden you turn a three-bed one-bath house into a four-bed two-bath house. On paper that fetches a bigger return, and it puts the property in a different pricing bracket - comparable four-bed two-bath properties in the area really range anywhere from a million dollars up to one-point-one or above.

What they'd do to the home / how they'd position it

The key thing when preparing a home for sale is making sure it flows and presents well. If a home presents well it markets well, and if it markets well you'll have more buyers - and more buyers means competition, and more competition equals a better price.

At the bare minimum, you want the house to flow as much as possible: keep the flooring consistent (you don't want too many different types throughout), repair any cracks, make sure it's been freshly painted, and keep blinds and curtains uniform throughout. Gardening and landscaping is a big one, and street frontage is really important - that's the first thing buyers see, so it has to be appealing. Painting is probably the most cost-effective thing you can do, including any exterior painting to lift the street frontage.

To really maximise it, I'd utilise the floor space and convert one of the two living areas into a fourth bedroom plus a bathroom, positioning it as a four-bed two-bath family home.

Auction vs private treaty, and the reasoning

Strategy really comes down to the current market. I'm a very heavily auction-driven agent, but I do a lot of private sales as well - in reality I'm about fifty-fifty. I want to make sure the recommendation I'm making suits not only the client but also the property, taking into account what the market is like at that point in time.

Auctions are working incredibly well; however, there's a change in legislation in the months ahead, and no one really knows what the auction market will look like at that point. If the property was ready to go to market right now, auction is certainly something we'd look at.

That said, the private sale cuts through a lot of the fluff - buyers want surety around the price. With the auction legislation changing in October, buyers are a little unsure where prices are going, and they turn up to auctions not knowing whether they're beating the reserve, because they don't know what the reserve is. So buyers definitely like the private sale too, because it's straight to the point: this is what the vendors are after.

The buyer cohort (young families upsizing, downsizers, investors)

I'd say it's going to be a family buyer that buys this home, just because of the sheer size of the property. You've got multiple living spaces, three bedrooms, and a big block of land - it's a home a family is going to be able to grow into.

Market window, when to list and why

Timing is absolutely everything. Looking at the next few months, there are a lot of changes coming. A really big one is the change to the Victorian auction legislation - vendors will need to disclose their reserve price, which could shift the market, and no one knows which way it'll go.

Right now it's the winter months: it's quiet, there's not as much property on the market, and I believe the market is currently propped up by that low level of stock. There could be interest rate rises to come - no one knows, but time will tell.

We're also heading into the spring market, which is traditionally busier. When you take all of that into account, I can't really say the market's getting better - so essentially you want to be shooting your shot pretty soon if your planning to sell.

Keeps it honest and on-brand (balanced, not hype)

It's more important than ever to deal with someone who knows what they're doing and knows the recent sales. You need to know your market inside and out and be able to explain to buyers why this home is worth more than the one they're comparing it to - a bigger living area, the block of land, a court location.

Just as important is having relationships with buyers in the area. Because of the volume I sell locally, I'm meeting buyers very frequently, so I understand what they're actually looking for and their real buying capacity - and that lets me help the right buyer stretch that extra ten, twenty, thirty thousand to secure the home.

A lot of vendors have these ideas in their head but are unsure who to speak to, which trades to use, and how to get the job done right at the right price. That's where I step in: I'll get as involved as they want me to. If the home's vacant they can hand me the keys and I'll prepare the whole thing start to finish - reach out to the tradesmen, get multiple quotes so they can compare, run through those quotes with them, and show them other properties we've prepared for sale, including the before-and-after, so they can see what the finished product looks like.