Selecting the right agent
- Using a qualified local agent to sell your home is the initial step towards obtaining the result you desire
- A professional agent will give you an accurate picture of the state of the market, which will help you price your property realistically. The agent will also advise you on the best way to sell your home and will advise you on the best marketing strategy
- The agent should not only understand the property market, they also need to understand the people
- Ask the agent what will be the unique selling point of the subject property
- Your agent should advise on what necessary improvements you could make to the property increasing the chance of a successful sale
Setting the sale price
Do not choose an agent based purely on the selling price they quote, this could lead to disappointment.
- A professional agent will appraise your home and determine a selling price by factoring in prices of local homes that have recently sold and comparable properties that are currently on the market. They would also factor in the state of the market and their intricate knowledge of buyers expectations in the market place
In todays market placing a sign outside the home and in the office window is not enough
- Successful marketing plans use a combination of marketing tools. These include signage, local advertising, direct mail, internet listings and window displays to maximise the opportunity of attracting the right buyer.
- The agent will use professionals to do the background work including taking quality photos and professional floor plans.
- Contacting database of potential buyers
- When selling by auction, the auction date is usually set four weeks ahead and the property will be heavily marketed in that time
Preparing your home for sale
- Walk outside your home/building - How does it present? If you were looking to purchase the property would you stop and want to have a second look
- Make sure the property is clean and presents itself in the best light.
- Remove all family photos as you do not want prospective purchasers to focus on these and not the property itself.
- Clean out and remove clutter - less clutter gives the impression of more space
- Natural light is best, open curtains and make sure all light bulbs are in working order
- If the property is vacant we would suggest hiring furniture as this can really show how the space can be utilised to its full potential
- At open homes make sure all your carpets and furnishings are free from pet hair and odours - If you do have a pet make sure they are not present at the open for inspections.
Choosing the right method of sale
There are two methods of sale used in residential property; private treaty whereby the subject property is marketed with a price and sale by auction - Marketing without a price and the agent is required to provide a price range when taking the property to auction.
- With private treaty when a price is quoted it is often the case that the price is negotiated downwards
- Private treaty can inhibit competitive forces by only attracting buyers in a specific price range
- At auction sellers can be confident the true market value of their home is established
- Auctions can achieve a better result in less time as the auction process is designed to source more buyers and identify the most genuine
- The auction method produces faster results as prospective buyers are forced to move quickly to buy the property, wether at auction or prior.
- The winning bidder must be able to sign the contract and pay deposit immediately