THE PROCESS OF SELLING A PROPERTY
Purchasing a home, whether for personal use or as an investment, may be a stressful time for some people. With so many considerations, including ensuring the best lifestyle for you or your family. Given the significance of this decision, it is often an emotionally charged process requiring the best advice to answer both large and small questions along the journey.As Andrews Property has helped with hundreds of property purchases, we have outlined below the steps involved in a successful property purchase.
THE STEPS OF SELLING A PROPERTY
01.
Be Prepared
De-clutter and tidy up around the home.
02.
Find an Agent
Contact your local Andrews Property Agent.
03.
Pick a Sale Method
With the support of your agent, discuss and determine your preferred method of sale.
04.
Set a Selling Price
You and your agent will work out a plan for listing, showing and selling your property.
05.
Review the Agreement With the Agent
Read the agency agreement being offered by the agent. The agreement may include if the agreement is exclusive or non-exclusive, the length of the agreement, how the agreement will be terminated, the selling fee, and any other fees such as marketing or administration.
06.
Prepare Vendor's Statement
A vendor's statement - also known as a section 32 - explains to buyers the crucial things they should know before buying the property. They are prepared by a legal practitioner or conveyancer.
07.
Market Your Property
Advertise in a number of areas - the number one is online. You need the best photos, great copy-writing and great presentation.
08.
Sell! Sell! Sell!
When it comes to actually selling and negotiating price, vendors should trust their agent.
09.
Under Contract
At auction, if the reserve price is met, the highest bidder is the buyer of the property, unconditionally. With a private sale, the buyer has a three-day cooling off period. You should also prepare the contract of sale through your solicitor or conveyancer.
10.
Settle
'Settlement' is the final stage of the sale, when the buyer completes the payment of the contract price to the vendor and takes legal possession of the property.
WHAT IS A PROPERTY APPRAISAL?
A PROPERTY APPRAISAL IS A KEY STEP IN SELLING YOUR PROPERTYA key step when you are considering selling your house or property is to have a property appraisal. This is an easy and informal process that will provide you with an estimated market value of your property. A property appraisal is a great way to find out what the local property market is doing at that point in time.
Read more about what an agent looks for when appraising a property, and how they determine the market value.
WHAT IS MY PROPERTY VALUE?
Andrews Property agents are here help home owners answer the important question "how much can I sell my house or property for?"
We Review:
Local market data
Similar properties - sold in the last 90 days
Properties currently on the market
Individual Property Features:
Location
Design and quality of the building
Size of the property
Number of bedrooms / bathrooms
Number of car spaces / parking
Appearance of the property
Condition of the interior including fixtures and fittings
Proximity to amenities such as schools and parks
Ease of access
Renovations and structural condition of the property
Areas for improvement
Local zoning restrictions
It's uniqueness and what makes it desirable
Our agents will summarise their findings and provide you with a comprehensive report on the local market with the estimated value of your property.
WHAT ARE THE COSTS OF SELLING A HOUSE OR UNIT?
RANGE OF COSTSSelling a property comes with a number of costs - some are unavoidable while others are optional. As a seller, being aware of the main costs is important for budgeting and to ensure you are not hit with any surprises down the track.
SELLING A PROPERTY COSTS
The main costs you will be faced with when selling a house or property are:
Conveyancing / legal fees
Agent commission
Auction fee (if applicable)
Photography and property videos
Marketing costs such as internet, social media, signboards, local marketing
Renovations and cosmetic repairs
Property styling
Home loan exit fees
Moving costs
It is a good idea to talk to your local Andrews Property agent about the cost of selling a property in more detail, so that you can understand associated costs prior to selling.
WHAT IS THE BEST WAY TO PROMOTE AND ADVERTISE YOUR PROPERTY?
PROMOTION AND ADVERTISINGOne of the most important factors of a successful sales campaign is the marketing plan.
MARKETING & ADVERTISING
One of the most important factors of a successful sales campaign is the marketing plan.
Creating one that reaches all possible local and active buyers, as well as pinpointing potential passive and out of area buyers, can have a big impact on your final sales price.
As the costs to market your property are separate to the agent’s commission, understanding the options you have at your fingertips is a good idea.
A strong property marketing plan could include:
Professional photography, copy writing, floor plan, video
Signboards
Digital advertising
Real estate portals
Print media advertisements and editorial
Drop cards and property brochures
Email to agent's database
HOW TO PREPARE YOUR PROPERTY FOR SALE
According to our agents, styling and preparing a house or property for sale could add between 5% - 10% to the final sales price. It can help attract more people and has a direct impact on the how quickly the property sells. Here are five simple and low-cost steps to improving your property for sale.PROPERTY PREPERATION STEPS
01.
CURB SIDE APPEAL
It is important the exterior is welcoming, and looks great throughout the duration of the campaign, as people drive by at all hours of the day and night.
02.
MAKE NECESSARY REPAIRS TO YOUR HOME
Sometimes cosmetic repairs take a while to complete, so it is worth getting onto these early. For instance, if your kitchen or bathroom need a refresh, perhaps the walls need to be painted, you need new tiles or the floorboards need to be sanded, getting onto these jobs well in advance of your property going on the market is a smart idea.
03.
DECLUTTER AND REMOVE PERSONAL ITEMS
You want buyers to be able to visualise themselves in your property; to feel an emotional connection. It is hard to do this if all your knick-knacks and family photos are scattered throughout the property. This is not to say everything has to go, it just needs to be refined.
04.
SPRING CLEAN THE ENTIRE PROPERTY
A sparkling property is a must have when selling your home. Spending time cleaning every corner of your property is time well spent - and yes, that does mean inside all your drawers and cupboards as buyers open these up for a peak inside.
05.
PROFESSIONAL STYLING
Professional styling can add 5%-10% to the final sale price of a property. Talk to your local Andrews Property Sales Agent about who they would recommend to help you.
SELL WITH US
WE DO SO MUCH MORE THAN SELL YOUR PROPERTYAndrews Property offers a bespoke approach to real estate. It enables our agents to provide the information and insights you need to make informed decisions.
Our aim is to deliver a seamless experience.
