How SaleFunder can Help Boost a Home’s Sale Price
As a leading financier in the real estate industry, Lucas McEntee knows sales.
Many vendors going through a divorce, attempting to sell a deceased estate or senior couples who don’t have much cash in reserve when selling their home are not well versed in how to turn their property around on a budget.
There might not be enough money to pay for a decent advertising campaign, let alone sprucing up the property to try and increase the sale price. Going to market unprepared leaves money on the table. Every sales agent has encountered these vendors and likely lost listings due to these financial reasons.
That’s where SaleFunder comes in
“SaleFunder is a finance company,” Founder and Managing Director McEntee says. “We cover finance to pay for advertising, styling, landscaping – really anything that’s needed to prepare a property for sale.”
Plugging a gap in the market
McEntee says about 18 months or so ago he noticed a few companies that were providing funding for advertising a property and “I really didn’t think it was a full solution”.
“It’s not just the advertising costs,” he says. “There are a lot of stakeholders when selling a property. You’ve got the auctioneers, landscapers, renovation companies, the real estate agents etc.”
McEntee realised there was a gap in the market for vendors who needed a full solution. So, he started SaleFunder. Vendors who don’t have enough money to prepare a home for sale can seek finance from the company.
All assessment can be done online so they can see straight away how much they can borrow. The loan is usually approved within two days and the money is repaid at settlement, no upfront costs!
Styling for a sale
McEntee says most agents are aware that styling and preparing a property for sale will increase the price and are willing to have this conversation with vendors, including costs and where the money might come from.
“Everyone’s seen The Block and Selling Houses Australia – they know if they prepare the house for sale, it will usually end up producing a higher sale price,” he says.
“From an agent’s point of view, turning a home from a place that just looks lived in into something special usually results in a higher sale price and more commission. You also receive better reviews from your vendors because they’re much more satisfied.
“And if you can pay for things like a super-charged advertising campaign and spend more money on the real estate websites, that means more clicks, more views, more buyers and a higher sale price. Those buyers are usually sellers so that means more listing opportunities.”
Successful case studies
McEntee says he has case studies from agents and vendors who spent $10,000, $20,000 or $30,000 on preparing their houses for sale receiving a $50,000-$100,000 lift in the sale price.
“As a minimum, we find advertising and styling are the best thing to be spending your money on,” he says. “After that, there’s landscaping and painting and the third thing would be a full-blown cosmetic renovation.”
With 15 years of finance experience and his company holding a Consumer Credit licence, McEntee says SaleFunder attempts to reduce or completely remove risk for agents and agencies.
“We make sure there’s a very clear line in the sand as to who does what. Real estate agents sell property, we lend money,” he says. “We ensure the vendor acknowledges they haven’t received financial advice from the real estate agent, so it reduces risk back to the agency.”
Styling your home for sale is one of the most sound financial investments you could make.