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Thinking of selling your home and not quite sure where to start? If you answered, “yes” then you’re not alone. Many people find the idea of selling daunting, and most don’t quite know where to start, so we thought we’d help potential new sellers understand the process and what needs to happen to prepare a home for sale.
The first step in selling is to call up your real estate agent for a property appraisal. You don’t need to make any definite decisions at this stage, an appraisal will simply help you get an idea of where your property sits in relation to the market and what it is likely to sell for.
This is also your chance to get to know your real estate agent, ask questions, and discuss potential marketing strategies and methods of sale.
Choose method of sale
Once you have chosen an agent, you will need to decide on a suitable method of sale. The three most popular methods of sale in Australia are private treaty, auction and sale by tender.
Choosing the right method of sale is an important aspect of a successful property sale. Some sale methods work best for certain areas or for particular property types. Discuss your preferences with your real estate agent and listen to their advice. For instance, an auction can be daunting for those who haven’t experienced one before, but can be one of the best methods of sale in a hot market.
Marketing your property
In order to attract buyers to your property you need to promote it. A range of mediums can be used in your marketing campaign, from advertisements on online portals to newspaper or magazine articles.
Your marketing strategy is absolutely crucial to a successful sale and it is important to get it right from the start of your sale. Work out a detailed marketing plan with your agent that will get the attention of your targeted buyer group.
Open for inspections
Most buyers will want to look through a home and get a feel for it before making an offer or bidding at auction. Publicly advertised inspections generally attract a large amount of potential buyers to your home at once, however you might prefer private inspections by appointment only. Prepare for inspections by ensuring that the property is in its best possible condition and discuss the benefits of home styling with your agent.
When an interested buyer comes along, your agent will help you negotiate the best possible sale price and conditions. When both parties have agreed upon all aspects of the sale, and a written offer has been made, you’ll be in the position to sign your property over to its new owners.
Once the Contract of Sale has been finalised (and looked over by both parties’ conveyancer or solicitors), a sale can be finalised and you can look forward to settlement day.
If you have any questions about selling your home, or the steps you can take to present your home to attract the most buyers and the highest price, please contact your local Professionals Real Estate Agent.