Selling your home?
Whether you’re a first-time seller or a property-market veteran, there are some key steps you’ll need to consider throughout the process. Keep track of all the essentials with our seller’s checklist below.
❑ Get help from the property experts
There’s a lot involved when selling your home, so it’s important to get expert assistance early on. The first step after making the decision to sell should be to reach out to a local real estate agent.
Depending on where you live you will probably have a wealth of options, so do your due diligence and pick a real estate agent with a history of successful property sales in your suburb.
Ask key questions like:
- What do you think my home is worth?
- How will you market it to potential buyers?
- Who will my property appeal to?
- Do I need to make any changes before selling?
- What is your commission structure?
You’ll also need to have your solicitor or conveyancer draw up a contract for sale.
❑ Research the market and settle on a price
Your real estate agent will be able to assist you with this step, but there’s no harm in conducting some independent research on recent sales in your area. There are endless property tools and calculators online that can help determine the value – or at least give you an approximate range – of your home.
Scoping out your competition can help you narrow down a price range, but be sure to only compare your property against similar homes that have recently sold – think about square meterage, number of bedrooms and bathrooms, age of the property and any recent refurbishments.
❑ Take care of repairs
Whether you’re currently living in the property or are renting it out, there’s bound to be some wear and tear around the home. It could be something as simple as a squeaky front door, dripping tap or a superficial crack in the hallway – fix them up to ensure your home is in impeccable condition.
Also take this opportunity to ensure your smoke detector is functioning, as well as your security system if you have one.
❑ Prepare your home for buyers
Getting your home market ready could involve as little or as much effort as you wish. But remember that first impressions count, and buyers will be more interested if your property is in top condition.
Could your walls do with repainting? Would a few minor upgrades in your kitchen or bathroom increase your home’s overall value? A good real estate agent can suggest tradespeople to help you with anything that may need to be done.
Your real estate agent may also suggest ‘staging’ your property for open houses. It’s an additional expense, but these home makeovers are intended to show off your property in its best condition possible – and it could be what sets you apart from other sales in the area.
❑ Plan your home marketing strategy
Work with your real estate agent to formulate a solid marketing strategy for selling your home. This will likely involve online and newspaper listings, regular open homes, and potentially virtual tours or video where interested parties can ‘walk through’ your home online.
If you haven’t done so already, also use this time to finalise your method of sale. You can go for an open or exclusive listing, sell your property by tender or put it up for auction.
❑ Keep your home in mint condition
Depending on buyer demand in your suburb, you could host open homes several times in a week. In addition to general day-to-day living, having potential buyers walking through your property every few days means more work to maintain a flawless home.
❑ Accept an offer
It’s the best part of the entire process – getting one or several bids from interested parties and then accepting an offer. Your real estate agent will keep you in the loop about any bids that come in on a standard listing, and they will handle all the complexities of an auction.
❑ Finalise the sale
It’s time for some paperwork. Your agent will manage all the necessary contracts and agreements, and the buyer will likely want to have a building and pest inspection done, as well as a final walkthrough. This is to ensure things like fixtures, appliances and the general condition of the home is as agreed upon in the contract.
Settlement typically occurs 30 to 90 days after you’ve all signed the contract, although you can work with both your agent and the buyer to settle on a specific date.
And don’t forget to have your final utility readings taken before moving out!
Selling your home – made easy by the experts
Ready to get the best price for your home? Want to make the process painless and smooth? Contact an experienced local agent and get started today.