Selling Tips

The preparation you put into getting your property ready for sale can be the difference between getting a standard price and getting a great price. The best part is, it's not hard, time consuming or expensive. There are 4 key components in selling your property successfully, they are; 

1. Timing

2. Presentation

3. Method of Sale

4. Sale Preparation Checklist

The process, or indeed art, of presenting your property for sale is an important one to master. For most, the sale of a property comes around every 5-7 years. For others it has become a more regular event, choosing to capitalise on the opportunity of upgrading the family home and make substantial tax free gains in the process.

Whatever your motive for selling, the process can either be stress free and lucrative or tense and disappointing. The good news is that you have the ability to choose.

Timing 

Buyers for good quality property can be found all year round. With the marketing process having become far more sophisticated than in previous times, the issue of timing is less critical today than in the past. However, there are some important points you may wish to consider. 

If your property is located in one of Sydney's beachside suburbs our research indicates that the Spring and Summer months produce superior results, particularly October and February. In major centres avoid the Christmas holiday period between 20 December and 10 January. In tourist destinations however, this same period can be the best time for the sale of property. 

The time required to sell property that is accurately priced will typically vary between two and six weeks. Prior to placing your property on the market, allow an additional two weeks to prepare both the property and the marketing material.

Presentation

Presentation of your property is a critical factor in achieving the highest possible price. This is similar to detailing a car before you sell it. The emotional appeal required to stir the spirit of the buyers is unlikely to be generated by a poorly presented property. And a neglected building sends out 'warning signals' to prospective buyers. 

So it is important to do whatever is possible to have your property looking its absolute best on inspection day. Some of the turn offs for buyers include:

• Animal odours in the house

• Evidence of damp or moisture in the walls

• Cigarette or strong food odours

• Doors, windows or gates that stick

• Cracked glass

• Too much furniture or personal belongings cluttering the space

• Stained carpet

To improve the presentation, seek an outside opinion, as many of these problems can be fixed over a weekend for little expense. We believe the process is so important that we suggests some presentation enhancers as follows;

• Clean and tidy up all living areas, kitchen, bathroom/s, bedrooms and laundry

• Shampoo the carpet

• A fresh coat of paint

• Open the windows and blinds

• Eliminate clutter

• Clean and clear out the garage, shed and storage area

• Fix all minor cosmetic defects

• Check the guttering

• Trim the lawn and tidy the garden

Method of Sale

There are several common ways to buy and sell real estate. Speak to one of our Sales Consultant and they will recommend a selling method based on the property´s type and location, the nature of the market and how quickly you need the property sold.

Ensure you understand all the pros and cons before deciding on a method of sale.

• Private treaty sale

  The most common method is where the seller advertises the property and invites offers from prospective buyers. The buyer and seller negotiate the sale, usually with the assistance of an agent. The sale is concluded with a written contract.

• Public auction

  An auction is a public sale conducted at a specific date, time and place. Prospective buyers bid and the property is sold to the highest bidder

• Sale by tender

  A sale by tender invites competitive tenders from potential buyers where all the offers are considered at a specified time.
  
  

Sale Preparation Checklist

1.   Finding the right agent

The ‘right’ agent is the one that you feel you can trust and work with to achieve the best result. Use ‘Find an agent’ at realestate.com.au to make a list and then talk to two or three.

Also ask your friends, relatives and anyone you know who has recently sold in your area for a personal recommendation.

2.   Sign up to receive email alerts

By signing up to receive email alerts from www.realestate.com.au you will automatically be notified about properties for sale in your local area that is similar to yours. This is a useful way to find out that the agents are that are selling property in your area and the sale price.

3.   Set a price for your property

As the vendor, you can set the price at whatever level you want – but it must be realistic if you’re serious about selling. Your agent is the best person to advise you because they have local knowledge and experience to know what your property is worth. If you want a completely unbiased professional opinion you can commission and pay a Licensed Valuer.

4.   Prepare legal documents

Requirements vary from state to state and your real estate agent is the best person to advise you about legal documentation, which is likely to include:

• A contract note / contract of sale containing the property disclosure information.

• A date for settlement of the sale – normally 30, 60 or 90 days.

• A Certificate of Title - you will need this when appointing an agent to confirm that you are the current owner and show if there are any encumbrances on the property.

• If selling an apartment or townhouse: Body Corporate Certificate, rates, council and utility fees.

5.   Talk to your agent about advertising

The right advertising plan is essential to generate interest and ensure a successful sale – your agent will have the knowledge and experience to develop this. Remember that 9 out of 10 people looking for a property use the internet, so it’s important to ask your agent to explain the range of online advertising options available – including e-Brochure and Feature Property which can significantly increase the number of property views and enquiries.

6.   Arrange a building inspection

Because many buyers will ask for a building inspection before buying, it’s worth considering arranging an independent building inspection. This will save time during the sales process and alert you to any problems before you put your house on the market.

7.   Prepare your property for sale

We’ve left it till last, but it’s the most important step in maximising your sale price – so don’t leave it to the last minute. Consider what can be done to the exterior and the interior of the property to maximise its appeal and decide whether to make the most of what you’ve got or hire a specialist property presentation team.