Introduction and Contents
There are many reasons to sell a property. It could be that we need more space, or are looking to downsize,. We may want to change location or move closer to work or family. Whatever the reason, selling a property can be very stressful. It is often accompanied by the purchase of another property which can add to our stress levels. Just as with buying a property, there are many hidden dangers and potential pitfalls for those that are unprepared.
The EYEON Property Seller’s Guide is designed to help you through the selling process by providing a range of information and independent advice to assist with your decisions. Along with very careful planning and educated decisions, EYEON can help you get the best results.
The Guide includes the following information:
1. Preparing to sell.
2. What is your property worth?
3. How to sell your property.
4. Presenting your property for sale.
EYEON in association with Herron Todd White, offer independent pre-purchase property advice and as such the information contained herein is unbiased and impartial. We trust this Property Seller’s Guide is of assistance and if you have any comments or questions in respect of the information provided please feel free to contact us.
1. Preparing to sell
Getting the best results when selling a property requires careful planning and a well thought out strategy. It is very important to take the time to consider the following issues:
- It is possible that you may be pushed for time because you have found the perfect property to move to and you need to sell your existing property quickly. You may also have to relocate quickly and want to sell up so that you can settle into your own place.
- It is quite common for properties to go up for sale during spring. However, your decision to sell should suit your personal needs and objectives, whether financial or the timing of your relocation. In reality, buyers are looking at property all year and, with the internet now the main means of finding property, it’s never been easier to reach buyers at any time..
The state of the market also impacts on whether people are willing to sell their properties. If prices are flat or falling, sellers that are not under time pressure are less likely to list their homes because they will feel they won’t get the best price. However, it is important to remember that if you are buying and selling in the same market you may not be worse off overall. If property prices are high, then you may receive more for your property. This may also mean that you are buying your next property at a higher price as well and vice versa.
If you don’t feel you have a good understanding of the local market, it is important to do some research. The internet is a perfect tool for this and Herron Todd White produce a monthly newsletter that provides a market review for all markets around Australia. To view a current report please visit:
If you are concerned that it’s not the best time to sell and you are buying into a new market that is stronger, you should consider discussing your situation with your lender or lending consultant. They may be able to facilitate you holding onto your existing home for a while and renting it out, while still enabling you to buy a property in your new location.
EYEON can provide help and referrals to select lenders if required. Please contact us at 1300 798 274 or via www.eyeon.com.au.
2. How much is your property worth?
It is important to understand the value of your property and to feel comfortable with the expected selling price. There are a number of ways you can get a good feel for the value of your property. The most comprehensive method is to employ a professional valuer who will inspect your property and analyse the current market and recent local sales to determine a price range for your property. The cost of this report is very small compared to other likely selling costs and can give you more confidence in the rest of the selling process.
Real estate agents will offer you an appraisal on your property and this advice can also provide valuable property information. It is recommended that you get more than one agent appraisal so you can make a comparison and ask each agent to provide an upper and a lower figure.
Remember, agents are looking for your business and their appraisal may be overly optimistic to encourage you to list with them. Again, having an independent valuation allows you to have a reference point in your dealings with sellng agents and to question their estimates where necessary.
If you would like to discuss your situation with a valuer, please call EYEON at 1300 798 274.
3. How to Sell your Property
There are a number of ways you can sell your property. Most people use a real estate agent but there are also a number of DIY solutions that use the internet as the primary marketing tool.
You can save money on agent commissions by managing the process yourself but it can add further stress and take a lot of your time. You also need to understand the legal obligations associated with transferring ownership of a property.
Real estate agents are experts in handling the sales and marketing of properties and they have databases of potential buyers in your area.
Choosing an Agent
Assuming that you decide on marketing through an agent, it is best to meet with a few local agents or visit some open houses in your area so you can form an opinion about the service offered by different businesses.
It is helpful to have a good feel for the potential value of your property (as discussed above) so you are in a position to evaluate the appraisals provided by each agent you meet. This allows you to meet them on your terms. If they say things that don’t make sense to you or don’t accord with your own research, make sure you ask questions.