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.  The experienced team at @ Real Estate take a personalised approach to help take charge of your future.  Armed with an advanced range of resources tools and technology your personal @ Real Estate sales team will work with you to create a personalised action plan designed for you and your property, to help you maximize your return on investment in the shortest time possible.

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 salability.  Your personal Property Consultant will be able to make suggestions and provide guidance to ensure your property is presented in the best light possible.  Below is a general guide;

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 pitcher them self’s 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 your obtain an 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 though.

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.  A good sale agent will be professional, listen and understand your situation, create an action plan tailored to your requirements, fully support you and 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;

Passive Buyer – This buyer is not actively looking but passively notices real estate though print media, agent sign boards.

Active Buyer – This buyer invests a lot of time and energy on media particularly online portals and is very data driven.

Local Buyer- This buyer lives local, eats local and buys local. 

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 and print marketing it is vital to have high quality photos and floor plans.

Leading industry experts recommend investing 1% of the valued of the home on advertising.

The wider spread the 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.

References

www.realestae.com.au

Top dollar by Andrew Winter

Attraction Agent 3 by Tom Panos

 Step 5

Put your plan into action

This is the time when buyers will start to inspect your property and 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 required 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 and pest inspections and finance clauses as well as settlement periods and more.  Once all terms are agreed upon @ Real Estate will arrange an REIQ contact to be signed by all parties and a copy will be provided to both you and your solicitor. 

Cooling Off Period

From the day the buyer receives a fully signed contract the five working days cooling off period begins. 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 and 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, as agreed to on the contract.    This is when you the vendor hands over transfer documents and the buyer pays the contract price and takes position of the keys and property.

 

Check out our Guide to Selling Your Home Ebook.Full of helpful hints and check lists here