Beginning Your Property Selling Journey
Congratulations, you very wisely made an investment in some quality Australian property and the time is right for you to sell it! Of course, as with any important financial undertaking, there are a lot of things to consider and prepare before that happy day comes when you sign the deed over and collect your well earned money! We have outlined some of the necessary steps to help you start your seller’s journey.
Choose Your Real Estate Agent – You can begin by getting recommendations from your family, friends, and co-workers who have sold property recently. Try stopping in at some open homes to see who is who in the local real estate scene and get a taste of their sales techniques, you might meet someone who impresses. There are always trusted local real estate agents like Upstate that you can choose simply based on their great reputation, they have a good name established in the business and have earned it!
Prepare Your Property For The Sale – Now is the time to take on any maintenance issues and simple renovations that will help you make the sale, the amount you spend will be well worth it when the job is done! Cut the grass, prune the shrubs, remove any clutter. If there is a house on the property lay a fresh coat of paint on it- anything that will increase that all important curb appeal that draws potential buyers in!
Pick Your Sales Method And Asking Price – The two most common sales methods are private treaty or auction. Ask your real estate agent for advice which will work best in your area, taking the current market conditions and the property type into account. Your real estate agent is also the one to confer with on your asking price, they know the markets better than anyone, and can help you find the sweet spot that sells in quickly while making your investment pay off! Here is more info about those two methods to consider:
Auction – Selling your property at auctions sets up a competition between would be buyers that can quite often drive the sale price up, sometimes way up! There are risks, of course, you don’t know if anyone will be interested enough to compete for it, or how much they will pay until the auction starts.
Private Treaty – Going with a private treaty gives you the ability to run your sales campaign for a longer period of time, giving you some room to consider the offers on your property potential buyers are making. The risk is that your property won’t sell if your asking price is too high, and you won’t get your best price if it’s too low.
Formalise Your Real Estate Agency Agreement – The agency agreement is the contract you make with your real estate agent that covers things like whether or not they have exclusive rights to sell your property, and for how long that right stands, the price of their fees, and any additional costs like taxes, administration fees, and marketing.
Good luck on your seller’s journey!
