Selling Prepare
PREPARE
It’s the same when selling a property; it’s all in the preparation. We all love to show off our homes and it’s no different when it’s time to move. Decluttering and depersonalizing will make it more attractive to potential buyers, increasing the likelihood of a quick sale and at a higher price.
Selling: Get Ready
Although an additional outlay, we’d always recommended staging your property to look its absolute best. Employing a professional photographer will maximise these enhancements, creating the buzz all sellers crave. This approach helps remove many of the ‘what ifs’ and ‘buts’ potential buyers have with all properties.
- Maintenance and Repair
Putting in the effort to create that emotional connection with buyers is a great strategy. Re-arranging furniture to optimize space and create a natural flow through the property or adding decoration to create an inviting atmosphere are great ways of helping potential buyers see themselves living in your property.
- Valuation
With your property looking A1, take time to choose the right real estate agent. Always get more than one appraisal and make sure you feel comfortable with the agent you go with – not just the cheapest – and very importantly, understand what is (and isn’t) included in their pricing. Do they understand the demographic most likely to show interest in your property? Are there other angles that could be explored?
Selling Research
RESEARCH
Listing your property can be a tense time for sellers; am I pitching at the correct price, have I got the right agent, is anyone going to fall in love with my property? If you’re buying at the same time, your thoughts may also be focussed elsewhere – it’s all about balance. This is where your choice of agent will come to the fore.
Selling: Marketing
This is all about creating
buyer interest. Many people feel comfortable with a traditional real estate agent who’s a true ‘people person’. Others are using tech to specifically target buyers based on an enhanced profile whilst social media has become an increasingly popular way of raising the profile of properties, individuals and agents. Again, it’s about personal choice and recommendations.
- List Property
You’ll have your own thoughts as what type of person/people/families will be interested in your property but be guided by your agent; they’re best placed to understand target markets and will be party to information you will not.
Agree a plan of action and understand what you’re getting for your money. Ask those awkward questions because this is your property you’re paying them to sell.
- Open Day/Viewings
This is when the preparation that went in to decluttering, depersonalizing and staging your property will start to pay dividends. If there’s anything unusual about the property that you know will raise questions, make sure the agent knows the answer. Anecdotes about the property and how you’ve lived there will all add to your property’s story.
Selling Negotiate
Negotiate
Mirroring the buying side, this is where things start to get a little easier as the structure and due process of settlements focuses on efficiency and security.
Selling: Sign Paperwork
Settlement ensures that all the necessary boxes are ticked and that all legal requirements regarding the transfer of the property are executed.
- Sign Contract of Sale
As the seller, you may have criteria you wish to include in the contact of sale so that all partes now explicitly where they stand and what’s included and what’s not.
At this stage there should be no surprises and everything that needs to have been declared has been declared. So close to the finishing line, it would be poor form for the sale to not complete based on a lack of transparency.
- Empty Property
So this is it; time to move onto the next rung of the property ladder (whether up or down). If you’re still to sell and are renting in the interim, make sure you’ve thought about storage of your possessions.
If you’re downsizing and have a surplus from the sale, is there a need to seek investment advice or perhaps rewrite your will? Worth considering whilst its fresh.
Selling Settle
Settle
This is literally where things start to ‘settle’ down; or at least they should do. The dynamic nature of The Process to this point are now replaced with structure and due process and is about efficiency and security.
Buying: Sign Paperwork
Up to this point everything has been done by the rule book and followed best practice. Settlement ensures that all the necessary boxes are ticked and you secure that dream home.
- Sign Contract of Sale
At this point you’ve shown your commitment to the deal by paying a deposit, confirming your funding and signing all relevant paperwork.
All things being well, you can start to look forward to getting those keys and making ‘that house, your home’. If you’re buying a reno, you may want to engage an architect or builder or speak to the council about options.
- Inspections – Building/Pest Control
Before you do though, you need to ensure you not buying what you think you’re buying and not a property that’s going to cause issues and cost you money from the day you walk in through the front door.
Again, recommendations from family and friends are always useful but providing these inspections are carried out by people with the correct accreditations, these services are more transactional and less emotive than with other services you’ll employee during The Process.
