Selling Tips

Selling a property is an exciting time, not only is it the opportunity to turn your property into cash but also often selling signifies the move toward the next chapter in your life. Rest assured you’re in safe hands with the experienced team at @ Real Estate. In order to sell your property for the highest possible price in the shortest possible time, it needs to stand out from the crowd to maximize your return on your investment at the beach.  

The @ Real Estate Sales Team offer a proven, straight forward approach to selling real estate at the beach. With personal service, beautiful & effective marketing, wide social media and internet reach, strong negotiation skills combined with an advanced range of resources, tools and technology they achieve amazing results for happy sellers, with many properties selling for full list price or even more.

Remember the team at @ Real Estate will be here to help you every step of the way. Below is a basic outline of the sales process with some hints and tips along the way.

Step 1

Are you committed to selling?
The first step towards taking control and successfully selling your property is to confirm you are ready to sell. The below table provides a general guide to assist you to decide if you are ready to sell?

Stage

Signs

Action

Ready

You are keen to sign a contract of sale allowing you to move onto the next chapter of your life. 

You may have found a new property to purchase.

Engage a professional Real Estate Agent , actively market the property and monitor buyer interest.

Getting ready

You have decided it is time to move on to the next chapter of your life and are making plans. 

You maybe thinking about your next home and what the future holds.

Prepare property for sale by ensuring it is ready to be displayed in the best light possible.

Choose your Sales Consultant.

Plan your future.

Researching

You are starting to recognise that there may be some benefits to selling the property.  You know you don’t want to own this property for ever and maybe considering downsizing, up grading, relocating or maybe you would like to free up capital.

Discuss your situation and options with professional Real Estate Agent, they will be able to provide information regarding current market conditions, presenting your property for sale as well as the process and much more.

Not planning to move

You love living in the property / the investment is working for you.

Enjoy!

Before you list your home for sale, consider the following;

  • Why are you selling?
  • When do you need to sell?
  • Have you consulted your Lending Manger / Mortgage Broker to confirm the exit costs and process required to sell your property?
  • Have you consulted your accountant to discuss any tax considerations?

The team at @ Real Estate are keen to help you with this decision and offer a free market appraisal and pre-sales consultation.

 

Step 2

Preparing your home for sale
Your property is usually just one in a very long list of properties a buyer will see, so it’s crucial that they see it in the best possible light. The presentation of a property will have a direct impact on its saleability. Your personal Property Consultant will be able to make suggestions and provide guidance to ensure your property is presented in the best light possible.

You may find our printable Open Home / Inspection / Photo Ready Check List helpful.

Staging
Remember you are selling a lifestyle; buyers need to be able to picture their selves living in the property. Buyers will often have a different perspective or image of the property from you the vendor, to bridge this gap it is helpful to clearly demonstrate how each space within the property may be used, by displaying furniture and decorating each space or zone to clearly show the properties maximum potential.

If the property is empty, tenanted or maybe your furniture is just a little outdated there are a couple of options;

  • Option 1 Professional staging
  • Option 2 Staged images

It is also recommended that you obtain a building and pest report, which can be provided to potential buyers. This not only makes your home more appealing to buyers but also may eliminate the need for the contract of sale to be subject to building and pest report and making it more likely to go through.

A building and pest inspection is just one potential situation that can turn a hot buyer off and potentially back out of the deal. The key to keeping everything moving smoothly though to settlement is a combination of pre-emptying potential issues and honesty. A good agent will work hard to keep a deal together. It all starts with being honest with you, the seller and may even suggest fixing any high-risk areas on the property before marketing the property. Honesty is also the best policy when it comes to dealing with buyers, so they are fully aware of what they are buying, which may include information or issues the seller has disclosed and history of the property etc. Finally, a good agent (or someone from their team) will attend the building and pest inspection to ensure they are able to pre-empt any issues. This also helps the agent to build a good relationship with the inspectors and promote open communication. As well as encouraging the buyer to talk to the building and pest inspector so they receive an accurate overview of the property. A professional sales agent will follow up with all parties and keep everyone up to date with progress during the sales process work towards a smooth settlement. 

Contact the team @ Real Estate for more information about preparing your home for sale.

 

Step 3

Choose your Real Estate Agent
When you and your property are ready to sell, you will need to choose the best Real Estate Agent for you to work with to achieve the best result. It’s still a tough market on the Capricorn Coast, so you will need a tough agent. Someone that is not afraid to have the hard conversations, will be proactive and not just wait for a buyer to come along. A good sale agent will be professional, listen, understand your situation, create an action plan tailored to your requirements, fully support you, provide you with the tools, information and regular feedback to assist you to make important decisions about the sale of your property.

  

Step 4

Create a plan
Your Real Estate Agent will work closely with you to create a plan to promote your property to potential buyers. There are generally 4 categories of buyers;

 

  1. Passive Buyer – This buyer is not actively looking but passively notices real estate though the agency window display or agent sign boards.
  2. Active Buyer – This buyer invests a lot of time and energy on media particularly online portals and is very data driven.
  3. Local Buyer- This buyer lives local, eats local and buys local. 
  4. Out of Town Buyer – This buyer may live interstate, overseas and uses the internet as their primary search tool.

Making it vital to utilize a wide range of media to promote your property. The better your property is promoted the more interested buyers you will have and of course the better the result. Below are the basic facts you need to know about marketing your property;

First impressions are important in creating the buyer’s perception of the property and its value. In today’s world of digital marketing it is vital to have high quality photos and floor plans.

Leading industry experts recommend investing 1% of the value of the home on advertising however, by focusing what’s most effective combined with careful planning the @ Real Estate team has been able to drastically reduce this amount.

The wider the spread of marketing the higher the interest created.

 

  • 86% of potential buyers use the internet as their main tool to search for property.
  • 53% of people don’t go past the first page when searching for property online.
  • 96% of all @ Real Estate buyer enquiries come from online.
  • 81% of @ Real Estate buyer enquires come from www.realestate.com.au.
  • Out of all the houses that the @ Real Estate sales team have sold over the last 6 months, 63% of those buyers came through the open home and went on to buy that house.
  • 57% of houses were for full list price or more sold in 29 days on average Aug 17 to Feb 18

  

Step 5

Put your plan into action
This is the time when buyers will start to inspect your property, your Real Estate Agent will provide feedback. @ Real Estate provides Vendors with 2 types of feedback;

  1. A weekly report measuring the level of interest received against the level of interest expected and require to achieve the desired result.
  2. Feedback from the buyers who have enquired about and / or inspected the property.

Make sure your home is easily accessible, by providing your Property Consultant with a key and keep the property inspection ready.

 

Step 6

Negotiation and signing the contract
The negation of the sale, may not only include the sale price, but may also include other conditions such as building & pest inspections and finance clauses as well as settlement periods and more. Once all terms are agreed upon @ Real Estate will arrange an REIQ contract to be signed by all parties and a copy will be provided to both you and your solicitor. To ensure your property is sold for the highest possible price your sales agent will need to be skilled negotiator.

Cooling Off Period
From the day the buyer receives a fully signed contract the ‘cooling off’ period begins. This period is 5 working days. This gives the buyer the right to terminate the contract for any reason, even an unconditional contract. A penalty of 0.25% of the purchase price may be charged by the seller.

Unconditional Contract
This is a contract of sale without any conditions or a contract of sale where all conditions are met. The five-day cooling off period still applies.

 

Step 7

Unconditional Contract
Once all of the conditions on the contract such as the building & pest inspection and finance clauses have been satisfied the contract becomes unconditional.

 

Step 8

Settlement Day
Congratulations!!! Settlement day is generally 30 to 90 days after the contract date or otherwise agreed upon on the contract. This is when you the vendor hands over transfer documents and the buyer pays the contract sale price and takes position of the keys and property.

 

References:
www.realestae.com.au
Top dollar by Andrew Winter
Attraction Agent 3 by Tom Panos