10 Steps to Selling Your Property

If you’re thinking about selling then the first thing we recommend you do is request a free no-obligation property appraisal. Only once you know what your property is worth can you make an informed decision on whether or not it is time to sell. Contact us to speak with a local Harcourts Sales Consultant and get the inside track on your local property market.
Selling isn’t the only reason house owners request a property appraisal. Knowing what your assets are worth is valuable information whenever you are facing financial planning.

Request an Appraisal

Can I afford to sell my house? Getting your financials in order is key. Knowing your property’s value is essential to planning a move and understanding your price range for your next home. You will also need to:

• Contact your home loan provider to request a payoff quote. This should include a detailed summary of how much you owe, and any fees associated with paying your home loan off early, enabling you to know how much you must sell your property for to be able to exit your mortgage and pay off your debt.
  
• Consider applying for Bridging Finance and/or Lending Pre-approval if you will be buying a new property immediately after selling your current property.
  
• Arrange to speak with your bank and mortgage broker to assess all your options.
  
• Ask yourself, how much money can I spend on selling my home? There are a number of unavoidable costs involved in selling your property including conveyancing and real estate agent fees, the costs of renovations and repairs, home loan exit fees, marketing expenses, and moving costs.

When it comes to selling your home, one of your most valuable assets, it makes sense to take the time to choose a qualified and knowledgeable sales consultant who has the right tools and strategies at their disposal.

When speaking with a sales consultant don’t be afraid to ask questions to ensure sure you’re confident they have the complete skill set to sell your home quickly, and for the best price.

Some of the important things to consider are:

• Is your salesperson qualified?
  
• Is your salesperson experienced?
  
• Does your salesperson have a specific marketing campaign that suits your property?
  
• Can your sales consultant negotiate with the buyer to achieve the best result?
  
• Is your sales consultant focused on your needs?

There are always sales consultants out there that will often provide you a property appraisal much higher that what is currently realistic, this is referred to as buying the listing. Make sure you pick an agent that will work hard for you and listen to your needs, is realistic but at the same time optimistic. The last thing you need now is an elusive sales consultant that has made big promises.

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Properly prepared, potential buyers should view your home as more than just a property for sale; they should be able to visualise the lifestyle that the keys to your property could unlock. From the street to the interior spaces, how your property looks and feels can have a direct impact on how quickly you sell your property. Likewise, when it comes to listing photography, a well-staged home helps attract more buyers to attend open home viewings.

• Make necessary repairs: if something is broken then it needs fixing. You might be able to live with a sticky doorknob but that’s no reason to give buyers any reason to fault the product you are selling. Often repairs will go further to include cosmetic face-lifts. Does the bathroom need new tiles? Does any part of the house require a fresh lick of paint? Remember, the less a buyer has to do on moving in, the higher a price your property will fetch. Ask your sales consultant where your time and efforts will be best spent to achieve the greatest buyer appeal.
  
• Consider street appeal: a broken fence, a neglected garden, peeling paint can all seem off-putting and may lead buyers to expect an equally under-cared for interior. Make a good first impression on potential buyers by beautifying the exterior and street-facing aspects. Consider attractive, low-maintenance solutions and plants.
  
• De-clutter and de-personalise: when it comes to styling, less is more. When selling a property, we advise presenting your home in a way that gives buyers a suggestion of how they might use the space, whilst still allowing them to visualise their own lives and possessions in the space. Remove excess clutter and personal items to create an evocative blank canvas. For example, kitchen counters should only display your most sparkling appliances and utensils, perhaps a bowl of fruit or a bottle of wine and a pair of glasses. Everything else must go.
  
• Clean every corner till it sparkles and make your home feel like new: this means everywhere. Clean it like you already have a buyer and are handing over the keys, and ensure your home is still clean and pristine before every open home inspection or buyer appointment.
  
• Photograph. To ensure your marketing material is of the highest standard, at Harcourts we use the services of a professional photographer to take quality, well-lit pictures of your home. Photos are the first impressions of your home that the buyer tastes. These need to attract the buyer enough to get them to the property to inspect in person. It is important you tidy up around the home and section prior to the photographer arriving. Small things out of place can make a big impact on the quality of good photos.

The most difficult task for most sellers is determining the value of what their home is worth. Many different elements can contribute to value including location, size, presentation and market demand. A good starting point is to study the current real estate market facts and figures. Your Harcourts sales consultant will show you comparisons of other similar homes in your area - those which have sold, those which have yet to sell and those which will represent your competition. Quite simply, the current property market and the buyers in it, are what determines the value of your home.

We recommend engaging a solicitor or conveyancer with experience in real estate law to:

• Draw up a contract.
  
• Handle all legal aspects of the sale and documentation of the property.
  
• Manage all legalities during the settlement process.
  
• Arrange for the land boundaries to be surveyed and drawn.
  
• Check with council that your property complies with local regulations.
  
• Represent you in negotiations with your buyer’s solicitor.

You may already have a lawyer you trust from when you first purchased the property. If not ask your Harcourts Sales Consultant for a recommendation.

Good marketing not only lets potential buyers know your property is for sale, but by giving them a sneak-peak of your home’s best features, creates a buzz before, during and between open homes. The more interested buyers you have the more competitive the offers you receive will be, and creating buzz is a great way to create buyer interest.

A comprehensive marketing plan should include a combination of digital, print and database marketing, utilising our online platforms and reach, as well as our private buyer database. Your Harcourts sales consultant will devise a marketing plan with you that is appropriate for the property and that you are comfortable with. This will include street side signage, printed and online listing advertisements including professional photography, and in some cases, videography. Professional copy will also be prepared to help sell the lifestyle dream your home offers.

Your Harcourts Sales Consultant will also guide you through the different methods of sale. Based on the location of the property, the type of property, market conditions, how quickly you want to sell and your personal preferences, they will then advise you on which approach they believe will achieve the best results in their professional experience. The marketing strategy devised will work to maximise these objectives.

There are typically four methods of sale that you can choose to sell your home. These are:

• Private Treaty (Priced, By Negotiation, Deadline Treaty)
  
• Exclusive or General listing
  
• Auction
  
• Tender

Whatever the sales method, our goal is to present you with an offer you’re delighted to accept.

Once you have chosen your method of sale, and gone through the marketing process with your sales consultant, the next step may be to consider an offer from a potential buyer.

At Harcourts, we will always present you with each offer formally in writing. We do this by providing interested buyers with a contract, and will give both you and the potential buyer the opportunity to add conditions when negotiating the sale of your property.

Common conditions of a property sale may include:

• Finance.
  
• A builder’s report.
  
• Pest inspection report.
  
• Sale of another property.
  
• Solicitor’s approval of the contract.
  
• Specialist inspection or approval.
  
• Due diligence investigation of the property and title.

Once an offer has been accepted and all parties have signed, this is now referred to as a contract. Once the contract, if it had conditions attached becomes unconditional (conditions met and accepted), the property is now deemed to be SOLD and purchaser will be asked to pay a deposit. This usually equates to 10% of the purchase price.

Our Promise*: Because it is your property, it is solely your decision whether to accept or decline a specific offer. For your consideration we will formally present every offer received in writing so that you are better able to make an informed judgement. Obviously we are only too happy to offer advice, but we will always leave the final choice up to you without exerting any undue influence whatsoever.

Settlement generally takes place between you and the purchaser and your legal/financial representatives.

The Purchasers have the right to a pre settlement inspection typically 2 – 3 days before settlement to ensure the property is generally in the same state as when they viewed and purchased the property. The Purchasers also have the right to inspect the chattels and ensure they are in a good working order as per the agreement. This is arranged and carried out with the sales consultant.

As the seller, you would have set the settlement date within the contract of sale. Settlement usually occurs 30-90 days after the contract has been signed, depending on what has been agreed upon.

Possession of the property usually takes place on the settlement day although you and the buyer can agree for these dates to be different.