When you have decided to sell your home, one of the first decisions you must make is deciding whether you are going to sell your home through an agency, or if you are going to sell if privately. In Australia, approximately 90% of homes are sold through real estate agents.
The key to successfully selling your home is choosing the right agent. A real estate agent is a professional with local market expertise and experience in selling property. They can provide you with up to date information regarding prices, financing, marketing, presentation and information about the housing market in general.
When choosing an agent you should consider how the agents present themselves, the agency’s reputation, their recent sales, knowledge of the local area and most of all, the rapport you have with them. You want someone you can communication with and most importantly trust!
When putting a property on the market, most people invite multiple real estate agents to give a market opinion on their property.
It is natural for vendors to want to get the highest possible price for their property and the temptation is there to appoint the agent who comes up with the highest figure.
Establishing the actual value of your home is essential in gaining the best possible result for your sale. It also requires a great deal of local knowledge and homework.
Be careful of any agent that who tells you they can achieve a high price without substantiating it with facts.
The market opinion will be based on evidence from:
a) Property data
b) Recent advertisements
c) Recent sales negotiated by the office
d) Sales made by other agents
e) and/or a valuation by a registered valuer.
It is very important that you agree with the price set and that the agent feels it is realistic. If the price is unrealistically high, enquiries will be limited and the property will not sell.
Before your property is officially placed on the market, there are a number of items that you must cover:
a) Sign an Agency Agreement
When you engage a real estate agent to sell your property, you must sign a contract called an Agency Agreement. This agreement is a legal binding contract that authorises the agent to act on your behalf in relation to the sale of the property.
b) The Section 32 and Contract of Sale
Before a residential property can be sold, a Contract of Sale must be prepared. This contract is usually completed by your Solicitor / Conveyancor and is made up of all relevant documents relating to the property, as required by law in each State or Territory.
c) A Marketing Plan
Marketing plays a very important role in achieving a successful sale and attracting potential purchasers to your property. Your agent will recommend a marketing campaign that is best suited to your property. The program will consist of; length of the campaign, the various media types to be used and the cost involved. Each program is carefully prepared to suit each individual property and your agent is responsible for carrying out the campaign.
d) Preparing your property for sale
The presentation of your home is very important as first impressions are critical in decision-making situations, especially when buying residential real estate. Studies have shown that potential purchasers have subconsciously reached their decision about a property within minutes of their first exposure. It should not necessarily be a show place but a neat and tidy comfortable home in which to live. Your agent will be able to advise you of any changes that could be made to your home that would add value or increase the attractiveness of your property.
Please find below some helpful and simple tips to consider that will improve the presentation of your home and help achieve the highest possible price.
• Interior - Clean the walls, floors, skirting boards, light fittings and around light switches. Refresh the home, put clutter away neatly in cupboards, clear table and don’t leave any dishes on the sink. This will give the appearance of the well-kept home.
• Fresh flowers and fruit also brighten up a home.
• Maximise the use of natural light by opening curtains and window furnishings and on a dull day switch on some lights prior to arrival of prospective purchasers.
• Think about each room and what furniture is really needs to be in it. Neat orderly rooms look larger and give a spacious appearance.
• Exterior - A bright and cheery home is very inviting and remembering that the gardens and grounds is the first sight for most prospective buyers will have of the property. Ensure lawns and edges are trimmed and flower beds cultivated. Clean all windows and remove leaves and twigs from paths and verandahs. Remove all rubbish and unwanted items lying around.
• Repair any minor defects like leaking taps, loose door knobs, sticking doors and windows, peeling paint etc
• Avoid having too many people present during inspections. The prospect purchaser will feel crowded and uncomfortable. Be courteous and don’t force conversation with the client. Remembering they are there to inspect the property not pay a social call.
• Avoid any distractions, turn TV and radios off. If possible consider removing animals from the home as they can get in the way and some people can be allergic to, or don’t like animals. Let the sales representative and the buyer talk free of distractions and disturbances.
Our Sales Consultants are here to help, so give us a call today for a confidential consultation.
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