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Property Selling Guide
Are you looking to sell a property? If so, take a look through our step-by-step guide to help you navigate through the process so you are equipped with the knowledge to make the right decisions.
Your Agent
It is a good idea to meet with a few local agents to find the one that best suits your needs. Selling a home is very much a collaborative process so choose an agent that you feel comfortable with and that provides open and honest communication. As an REIQ accredited Real Estate Agent our aim is to provide you with peace of mind that your property sale is handled by a property professional who is committed to adhering to best practice, values and service. Once you have chosen your agent, you need to decide how you want to sell your property. The three most common methods are:
- Exclusive Listing – This is where the sale of a property is in the hands of one agent. This method is advantageous, as you will have one agent who is dedicated to the sale of your home and avoids the potential confusion of liaising with multiple agents. This method may also save you time and money, as you will not have to pay marketing and advertising costs to multiple agencies.
- Open Listing – This is where the sale of a property is in the hands of more than one agent.
- Auction – Auction is an exclusive listing where the property is put on the market without a listed selling price. Public bidding at a pre-scheduled day and time determines price.
All agents must be appointed to act in writing using a Property Occupations Form 6 – Appointment and reappointment of a property agent, resident letting agent or property auctioneer. This form is signed by you and the agent and legally sets out the terms of your agreement.
Your Price
A Comparative Market Analysis (CMA) can be used by an agent to provide you with an opinion of the current market price of your property. As a minimum, a CMA will contain information on three properties, of a similar nature and style that have sold within five kilometres of your property within the last six months. Setting a realistic price can help you in generating greater buyer interest and a faster sale. If you set the price too high, you may damage your prospects of a quick sale and risk your property becoming ‘stale’ on the market. Once you have decided on a price, you need to agree a marketing and advertising campaign with your agent. This should be designed to achieve the highest possible price for your property.
Your Preparations
You don’t get a second chance to make a great first impression so it is important to spend the time preparing your property for the market. A thorough spring clean inside and out can do wonders. The best smell a home can have is clean. Complete minor repairs and maintain the property throughout the marketing campaign. And most important…de-clutter! Remove unnecessary furniture and personal items to ensure each room is shown at its best. To view our complete Property Presentation Guide click here.
Your Open Home
Set inspection times with your agent so you can plan ahead to ensure your property is presented at its best. It is a good idea to let the agent present the property to allow buyers the space to view it freely. If you have pets, it is a good idea to take them away when the open homes and inspections take place.
Your Price Achieved
Your agent will submit all offers to you in accordance with your instructions. Exceptions may occur if you have instructed your agent not to submit offers to you below a certain amount. When an offer is submitted, it is important to not only consider the price but any conditions that may be attached. You might want to accept a lower offer if the offer is unconditional or has minimal conditions rather than a higher offer with more conditions that may not proceed to settlement. If you are going to auction, do not discuss the reserve price (if you set one) with anyone other than your agent and the auctioneer. When both parties agree on the offered price and the terms of the offer, all parties must sign and initial any changes that have been made to form a binding contract.
Your Move
Once a contract has become unconditional it is time to start packing. Should you require any assistance with your move, we can arrange connections to your new home for a wide range of services, from electricity and gas to Internet and pay TV. Just contact us and we will do the rest!
Useful Terms
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Disclaimer
This document has been prepared as a guide only and is subject to change at any time. This guide should not be considered professional advice or a substitute for professional advice. You should always consider seeking independent legal, accounting and financial advice before entering into an agreement or arrangement in respect of real property. A failure to seek appropriate advice may result in unforeseen legal or financial consequences. The authors of this guide and their agents accept no liability whatsoever for any inaccuracies or errors contained in this guide, which the authors confirm has not been prepared to take into account any person’s financial circumstances, situation or objectives.
Useful Terms
Useful Links
Disclaimer
This document has been prepared as a guide only and is subject to change at any time. This guide should not be considered professional advice or a substitute for professional advice. You should always consider seeking independent legal, accounting and financial advice before entering into an agreement or arrangement in respect of real property. A failure to seek appropriate advice may result in unforeseen legal or financial consequences. The authors of this guide and their agents accept no liability whatsoever for any inaccuracies or errors contained in this guide, which the authors confirm has not been prepared to take into account any person’s financial circumstances, situation or objectives.
‘my move’ Communication Portal
The ‘my move’ communication portal was developed to provide buyers and sellers with absolute visibility through each stage of the property process. As a seller you can sign in to ‘my move’ at any time to view the latest information regarding buyer prospects for your home, inspection feedback, website clicks and important dates such as open homes. It will also take you through each stage of the selling process and guide you through the forms and key dates to ensure a smooth settlement. Not only will you have the freedom to sign in at a time that is convenient to you, you will also have the option to receive email alerts advising of any updates.
Free Suburb Statistics Report
Would you like to know all the facts, from median sales prices to capital growth, about the suburb you are looking to sell or buy in? Then click here and we will email you a free suburb statistics report. Just let us know the suburb you are interested in.
