Selling your property

The essential steps to selling your home

Step 1 Try not to sell in a hurry

The surest way to get less than the true value of your home is to sell in a hurry. Be wary of selling because you’ve already purchased elsewhere, it may put you under pressure to sell quickly – and perhaps too cheaply - to avoid expensive bridging finance.

 

Step 2 Is there a best time of year to sell?

There is no hard and fast rule here. People often think that the best time to sell is spring and the worst is winter. The reverse is often true in some areas; a lesser number of homes on the market can mean better prices can be achieved as buyers compete for available properties.
 

Step 3 Presenting your home

Before you invite the agent to inspect your home make sure your property is looking as good as it can. This will allow the agent to see the potential in your home and show you're serious about obtaining a top price for your home.
People often think they should renovate before they put their home on the market but unless the renovations is likely to bring you $2 for every $1 you spend its really not worth it. As a simple guide money spent on a new kitchen, bathroom or extra family room is considered a wise investment.
You can also add a lot of value by doing very cost effective touch ups. Things such as:
- a coat of paint to the front fence
- neat lawns and gardens
- a thorough clean of your home from top to bottom
- fixing that broken fly screen or dripping tap
- removing any clutter from rooms to create a feeling of space
 

Step 4 Appointing an agent

The key questions to ask an agent are:
- how well do you know the area?
- how do you plan to market my home?
- how will you keep me up to date?
- what are your costs?
Most importantly you should feel comfortable with your agent, you want to choose an agent who is well known and very active in your area. Ask for references and speak to people who have dealt with the agent. Check what marketing the agent recommends, what sort of advertising they will use and who pays for it.
Take the time to understand the commission the agent receives. REMEMBER: The cheapest agent is NOT the agent with the cheapest fee but rather the one who can achieve the highest price for you.
 

Step 5 Private treaty or Auction?

Do your research. If you are considering selling by auction, check the recent clearance rates for your area with the Real Estate Institute or check the major newspapers. Auctions can create extra interest and may push prices above the market, but what happens if your home is passed in? Local buyers may see that others did not think your home was worth the asking price.

Also important is the time frame you have set yourself. A private sale campaign can take longer particularly if you are after a specific price at the top of your properties range, an auction campaign has a set conclusion date and whilst you may not get the best price you may sell your home more quickly. Your agent should be able to make a recommendation on what would be most suitable for your property and outline the advantages of each.
Perhaps most importantly, consider your own comfort level. Will you be happy to list your home and wait for the desired price? Will you be able to handle the tension or the auction process?

 

Step 6 Get your Section 32 organized

After choosing your agent, you need to organise the section 32, by appointing a solicitor or conveyancer. Keep in mind that it might take a number of weeks to get everything together. You will probably find that a sale cannot take place (no matter how attractive the offers are) until you have all correct sale documentation organised.
 

Step 7 Tailor the marketing campaign

Each property is unique and deserves an individual marketing approach. Your agent should be able to advise what type of package would suit your home best and what creates the most impact with buyers. Give as much information as you can about why you like your home. Point out the features and improvements you've made. Tell buyers how close your favorite takeaway is. Head it up "Owner Notes" and give it to the agent to type up and hand out to buyers at inspections. It's a powerful tool that really works.
 

Step 8 Preparing for inspections

Inspection days can make a big difference to the level of interest in your home. Buyers will be looking at a number of homes each weekend, here are some tips to make your home stand out:
- Walk the dog or go to the park for the inspection – buyers do not want to feel that they are intruding.
- put some coffee on, might seem strange but the aroma makes you’re home smell like a home
- fresh flowers also brighten a room show pride in your home
- clean the windows and open all blinds – make your home as light as possible
- watch your pets – if you have an over-friendly dog get someone to take him for a walk
- music – soft music gives a real feeling of warmth to your home