Download - Realestate.com.au's Selling Guide
Your complete guide to selling – preparing your home for sale, choosing the right agent, advertising and presenting your property.
sellingGuide to successfulrealestate.com.au
Welcome
01
Contents Page
PreparingtosellFirsttimeselling 02
Whenistherighttimetosell? 02
Shouldyousellorbuyfirst? 03
Whatisyourpropertyworth? 03
ChoosinganagentWhatistheroleofanagent? 04
Questionstoaskanagent 05
Usinganagentvsprivatesale 05
AdvertisingyourpropertyFacts&statistics 06
Advertisingyourpropertyonline 07
PresentingyourpropertyFurnishedorunfurnished? 08
Presentingyourproperty–Checklist 09
Buyingandsellingpropertyisthebiggestfinancialtransactionthatmostpeoplemakeintheirlives–weunderstandthattheprocesscanbebothconfusingandstressful.
realestate.com.au,Australia’slargestrealestatewebsite,hascreatedthisSellingGuidetoequipyouwithalloftheinformation,andsomeusefultips,toensurethatsellingyourhomeisasstress-freeaspossible.
Whetherit’schoosinganagent,preparingyourpropertyforsaleordevelopinganeffectivemarketingschedule,thisguidewillhelpyoutogetthebestpossiblereturnfromthesuccessfulsaleofyourproperty.
Formoreinformation,checklistsandsellinginformationvisit:
www.realestate.com.au/sellingguide
realestate.com.au–We’llhelpyoudoyourhomework.
www.realestate.com.au/sellingguide
Firsttimeselling
Whenistherighttimetosell?
Preparing to sell
It’slikelyyouhaveagoodunderstandingofhowthepropertymarketworks.Afterall–youboughtthehouseyou’renowselling.Ifyou’reafirsttimeselleroryou’vebeenoutofthemarketforsometime,here’ssomeextrahomeworkyoucandotohelppreventcostlymistakes:
1.Puttingyourpropertyonthemarkettooearly.Evenifyou’reunderfinancialpressureitisimportanttomakesmallrepairsorcompleterenovationsbeforeyouputyourhouseupforsale.Presentingyourpropertyproperlymakesahugedifferenceinmaximisingthesalepriceofyourhome.
2.Ineffectiveadvertising.Advertisingisthebiggestandmostimportantinvestmentyou’llmakewhensellingyourproperty.Themoreyouadvertise,themorepeoplewillseeyourproperty,themoreenquirieswillbemadeandthemorepotentialbuyersyou’llhaveonsaleday.
3.Choosingthewrongagent.Chooseanagentwhounderstandsyourlocalarea,howtheareaispricedandhasexperiencesellingpropertieslikeyours.Anagentwhoofferstosellyourpropertyforthelowestcommissionmaynotnecessarilyprovidethebestserviceorresult.
Therealestatemarketgenerallyreflectsthecurrentstateofthebroadereconomy–itfluctuatesbetweenboomsandbusts.
Ideally,we’dallsellwhenthemarketisupandbuywhenit’sdown.Inrealityweoftenneedtosellbecausewe’rerelocatingforwork,upsizingasagrowingfamily,downsizingas‘emptynesters’orhavetakenthedecisiontomovetonewneighbourhood.
Traditionallyspringiswhenmostactivityhappensinrealestate.However,yourdecisionaboutwhentosellshouldbebasedonpersonalobjectivesandfactorssuchasyourabilitytofinanceanewpropertyandmeetongoingrepaymentsandthecapitalgainstaximplicationforsellingyourinvestmentproperty.
Andremember,ifpropertypricesarelow,youmaygetlessforyourhousethanyouhoped,butyou’llprobablybepayinglessforthehouseyouintendtobuy.Ifpricesarehigh,thepropertyyou’resellingwillbeworthmore,butthepropertyyouintendtobuymaycostmorethanyouwantedtopay.
Therearemanythingstoconsiderwhensellingaproperty.Thefollowinginformationwillhelpyoudecidewhentosell,whethertobuyorsellfirstandwhatyourpropertyisworth–plusvaluabletipsonavoidingcostlymistakes.
Didyouknow...
By using an agent you have access to online advertising products on realestate.com.au that can provides you with email notification when properties come up for sale in your area, so you can monitor the market and decide when to sell.
02
www.realestate.com.au/sellingguide
Preparing to sellcont...
Shouldyousellorbuyfirst?Ifyou’resellingapropertyandbuyinganotherone,amajordecisioniswhethertosellorbuyfirst.Inarisingmarketitislogicaltobuyfirst,beforepricesgotoohighandselllaterwhenpricesarehigher.Inafallingmarket,theoppositeistrue.
Somethingstoconsider:
•Anadvantageofsellingfirstisthatyouknowhowmuch moneyyouhavetoputtowardsanewproperty.
•Ifyousellfirstandcan’torganiseanextended settlementtocoverthetimeittakestobuyyournew home,youcouldfindyourselfwiththeinconvenience andexpenseofrentinginthemeantime.
•Ifyoubuyfirstinalowmarket,youmayhaveproblems sellingyourexistingpropertyandcouldfindyourself underpressurefinancingtwopropertiesatthesametime.
Thetraditionalwaytodealwiththisproblemistoorganiseabridgingloan,providedyoucanservicetwoloansatthesametime.
Arrivingatanaccuratevalueforyourpropertycandependonfactorssuchas:
•Thestateofthemarket•Currentinterestrates•Thetypeofproperty•Howmanysimilarpropertiesareavailableat thetime
Werecommendaskingtwoorthreeagentstoprovideanupperandlowerestimatetodeterminearealisticpriceanddoingsomeresearchat‘Soldproperties’atrealestate.com.autocheckpricesforsimilarpropertiesinyourarea.
Whatisyourpropertyworth?
$$$$$$$
Didyouknow...
realestate.com.au has finance calculators that can help you make the decision about whether to sell or buy first.
03
www.realestate.com.au/sellingguide
Whatistheroleofanagent?
Agentsunderstandthatbuyingorsellingpropertyisasmuchamatterfortheheartasthehead.Drawingontheirvastpropertyexpertiseandknowledgeofyourareaanagentwill:
•Providearealisticindicationofthevalueof yourproperty.•Helpyoudecidewhethertolistthepropertyfor sale,putthepropertyouttotenderortoauction.•Organise,attendandrecordprospectivebuyers atopenforinspectiondays.•Manageenquiriesaboutyourproperty.•Provideaccesstomorepotentialbuyersviatheir ownprospectdatabase.
•Handlesalenegotiationsonyourbehalfandstrive toachievethebestpossibleresult.•Adviseonandcoordinatethemarketingofyour property,includingpreparationofflyers,floorplans andphotography.•Prepareaprofessionaladvertisingprogramfor newspapersandonline.•PrepareaContractofSale.•Provideguidanceonconveyancing,legaland financialservices.
Choosinganagentyou’recomfortablewithisanimportantsteptowardsasuccessfulsale.Anagent’slevelofprofessionalismandcommitmentcantakethestressoutofsellingandcanimpactthesalesprice.
Choosing an agent
Didyouknow...
By using an agent you have access to online advertising tools on realestate.com.au that can increase the number of people who will see your property.
04
www.realestate.com.au/sellingguide
Questionstoaskanagent
Decidingonanagenttosellyourpropertyisanimportantpartofthesellingprocess,sodon’thesitatetoaskagentsquestionssuchas:
• Howlonghaveyoubeenalicensedagent?• Howlonghaveyoubeenactiveinoursuburb orregion?•What’syourexperienceinsellingproperties likeours?• Howmuchdidthesepropertiessellforandwhen?•Whatisyourtopandbottomestimateforthesale priceofourproperty?• Howmuchcommissiondoyoucharge?• Canyouprovideanexampleandcostsfora marketingschedule?
Sellingthroughanagentvsprivatesale
Formostofus,sellingpropertyisthebiggestfinancialtransactionsweevermake.Whilesomepeoplehavetheexperienceandtheresourcesto‘goitalone’,doingsoisexpensiveandtimeconsuming.
Itisimportantforyoutobeinvolvedandunderstandthewholeprocessofselling.Usingaprofessionalrealestateagentgivesyoulegalprotectionandtheassuranceofexpertknowledgefor:
• Establishingapriceforyourproperty• Providinglegaldocumentation• Developinganadvertisingcampaign•Organisingopendayinspections• Negotiatingafinalprice• Finalisingthesalethroughasolicitoror conveyancingspecialist
Propertieslistedonprivatesalewebsitesarenotseenbymanypeople–asthesesitesrarelyhaveenoughpropertystocktoattractandretainseriousbuyers.
Didyouknow...
The ‘Sell’ section of realestate.com.au enables you to search for Real Estate agents in your local area – a great starting point when developing a short list of agents.
05
Choosing an agentcont...
www.realestate.com.au/sellingguide
Facts&Statistics
Therearemanywaystoadvertiseyourproperty.Whilstitisimportanttogettherightadvertisingmix,factsshowthat:
•9outof10peopleusetheinternettosearchfor propertiestobuy
• 40%ofenquiryaboutyourpropertywillbe generatedfromyouronlineadvertising*
Despitethis,manypeopleonlyspendasmallproportionoftheirmarketingbudgetonline.Whatsomepeopledon’trrealiseisthattherearemanydifferentwaystoadvertiseyourpropertyonlinethatcansignificantlyincreasethenumberofpeoplewhowillseeyourproperty.
realestate.com.auistheNo.1realestatewebsiteineverystateofAustralia,thatprovidesyouwithaccesstomorebuyersthananyothersite**.
^AustralianPropertyReport,NielsenOnline,2008* MacquarieRealEstateBenchmarkReport,2008** NielsenOnline,MarketIntelligence,March2009
Macquarie, Real Estate Benchmark Report – Australia, 2008
Advertisingiscrucialtoagoodresult.Awell-balancedmarketingscheduleexposesyourpropertytothewidestpossibleaudience,generatingmoreenquiriesandthereforemorecompetitionthatwillresultinahighersaleprice.
Nielsen Online, Market Intelligence, March 2009
realestate.com.au
domain.com.au
realestateview.com.au
homehound.com.au
reiwa.com.au
2.5M
379,000
365,000
213,000
4.87 Million
1.0M 2.0M 3.0M 4.0M 5.0M
Advertising your property
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www.realestate.com.au/sellingguide
What advertising generates the most enquiry for your property?
no. of people who visit realestate.com.au each month
eBrochure• eBrochureisanemailbrochure
ofyourpropertythatissenttoallthebuyersintherealestate.com.audatabasewhose‘search’criteriamatchyourpropertylisting.
• Targetbuyerswhoarelookingforapropertyjustlikeyours!
There’saperceptionthateveryonlinepropertyadisthesame.Inactualfact,justlikenewspaperadvertising,therearevariousonlineadvertisingoptions.
guaranteed Top spot• Yourpropertywillappearexclusivelyatthe
TOPofthesearchresultspageinyoursuburb.
• Includesmorephotostogenerate moreexposureandmoreinterestin yourproperty.
Feature Property• Yourpropertyisgivenapriorityplacement
andwillappeartowardsthetopofthesearchresults.
• Includesalargephotoandaredborderformoreprominence.
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Advertising your propertycont...
www.realestate.com.au/sellingguide
Ask your agent about the products below that can help to get more exposure and enquiry for your property:
Furnishedvsunfurnished
Presenting your property
Noteveryone’stastesarethesame–particularlywhenitcomestofurniture.Somepeoplecall‘shabbychic’theheightofsophistication,otherscallit‘ugly’,‘worn’and‘mismatched’.
Evenexpertsaredivided.Somebelieveyoushouldremoveallfurnitureandofferthe‘blankcanvas’approachtoprospectiveowners.Othersbelievefurnituremakesiteasierforprospectivebuyerstovisualisetheirfurnishingsinthepropertyandimaginemovingin.
Onedownsidetothe’blankcanvas’isthatitcanshowupmoreproblemsthanyourealised:thescuffedfloorsandwallsthatwouldnormallybedisguisedbyarug,orbehiddenbyapieceoffurniture.Somepropertiescanactuallyappearsmallerwithoutfurniture.
Thebenefitofanunoccupiedhouseisthatitcanbeseenatamoment’snoticewithoutmakingappointmentsandwaitingforresidentstotidyup.
Perhapsthemostimportantthingtokeepinmindisthatnomatterwhatyoudointermsofpresentationitshouldbeappropriateforthestyleofthehouseanditslocation.
Theysayinpropertythatlocationiseverything,buttomakeasuccessfulsaleandmaximiseyourproperty’svalue,thekeyispresentation–getitrightandyou’lladdtothevalueofyourhouse.
TIP
Buy new towels for the bathroom and display them at open times.
Perception is reality, and creating a warm, homely and inviting environment will position your property ahead of other properties in a buyer’s mind.
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Presentingyourproperty–Checklist
Fixit:Fromleakingtapstoabrokenbulb,makesuretheminorrepairsaretakencareof.Alickofpaintwillfreshenscuffsandscrapesinthewoodwork.There’snoneedtoredecorate,justsomebasicmaintenanceworktoensurebuyerscanfindnofaults.Whyletasmallthingjeopardizeabigdeal?
Freshenup:Getridofsmokeorpetodours.Openthewindows,brewsomefreshcoffee,andbrightentheplaceupwithfreshflowers.Ifyou’reburningincense,makesureitissubtle.Inthekitchen,hand-pickherbsandplacetheminaglassofwater.
Lightandmagic:Increasethesenseofspacewithmirrorsandlightsandleaveallinternaldoorsopen.
Pets:Alwayscleanandtidythedogareaandtakethedogoutduringopentimes.Feedingyourfishjustbeforetheopeningmakesthemcometothetop.
Warmth:Createwarmthbypreparingyourhometosuitthetemperatureoftheday.Ifit’scold,lightfires,turnonpatioheatersandheating.Ifit’shot,turnonfansandcoolingsystems.
Onceyou’vesignedacontractwithyourreal-estateagent,you’llneedtogetyourpropertyreadyforpeopletocomeandsee.Firstimpressionscount,sodeterminehowyoucanimproveyourproperty’spresentationandthereforeitsultimatesaleprice.
Someideastoconsider.
Pavementappeal:Makesurethefrontofyourpropertylooksappealingandinviting.Aweed-freegardenandsomeattractivepotplants–borrowedorhired–canmakealldifference.
Cleanandbright:Beforeeveryviewing,giveyourpropertyaonceover,ensuringthatwindowsarecleaninsideandout–it’ssurprisinghowmuchdifferenceitmakestothelight.
Cuttheclutter:Youwanttheprospectivebuyertobeabletoimaginetheirownbelongingsintheproperty,sodecluttertokeepthingstidy.
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Presenting your propertycont...
www.realestate.com.au/sellingguide
sellingGuide to successfulrealestate.com.au