Selling Advice
Selling Your Home
Selling your home divides into three basic parts. Preparing for the sale, making the sale and after the sale.
top
Preparing Your Home
We always seem to remember first impressions. If your home looks fresh and well maintained outside and in, then prospective purchasers will be impressed from the start. Your Ray White Lower North Shore sales consultant can assist you with your presentation options including recommending an expert stylist. Also see Presenting your Home Check List..
top
Deciding On The Right Price and Pricing Strategy
Getting the best possible price for your home and selling it sooner rather than later is no doubt the result you want. But no matter which selling strategy you use (auction or private treaty) you will need to discuss both your pricing strategy (marketing with or without a price) and your price expectations. These decisions will be based upon your individual circumstances including property type as well as your timeframe. The price should be based on the market rather than your needs. Here are some points to consider:
Recent sale prices of properties in the area similar to yours.
Properties similar to yours currently for sale.
The current state of the property market.
top
 Which Way To Sell?
Auction Or Private Treaty?
It is important to note that there is no single best way to sell your home. Each home and owner is different and each situation should be considered individually.
Ask your agent to compare the success of each method in your area for properties similar to yours. There is likely to be a trend for one of them and you may achieve greater success by choosing it. In brief here is how the two methods work:
top
Private
Treaty
Your home goes onto the market with a
predetermined asking price. There is no official sale date and your
marketing strategy may vary depending on your individual situation,
budget and timeframe. Potential buyers will either accept the asking
price or, more likely, start by making a lower offer. It is in your
best interests to have your agent handle the negotiations which will
be aimed at raising the offered amount to your asking
price.
This method of sale is effective in the long term and
targets buyers looking in a specific price range, or concerned about
overspending in a competitive auction atmosphere.
Some
considerations about this method include:
Your asking price is likely to be the maximum paid or the basis
for lower offers.
The open-ended timeframe can result in the property being on the
market for a longer time increasing marketing costs.
The lack of urgency or pressure often results in sales falling
over between the time of deposit and exchange of contracts.
Where a cooling off period applies, buyers may simply change
their mind.
top
Auction
Auctions are highly focussed
marketing campaigns designed to expose your property to the maximum
number of buyers, maximise your sale price and minimise the number
of days your home is on the market. Your home is put up for sale to
the highest bidder on a specified date and this is preceded by an
intensive marketing campaign including selected "open days".
The impending auction date creates a sense of urgency
amongst buyers by putting a clear timeframe on your campaign. This
method of sale also creates a competitive atmosphere on auction day
that is aimed at letting the market determine the highest price for
your home.
top
Making The Sale
The
Marketing Plan
The marketing plan will be designed to
achieve specific goals. It will generate awareness in the market
that your property is for sale. It will attract inquiries about your
property. It will be targeted to our database of prospective
purchasers and other potential buyers in the area. Depending on the
method of sale and your budget it may use a variety of tools such as
display advertising, internet websites, signboard, direct mail and
letterbox drops. Your Ray White Lower North Shore sales consultant
will recommend the best marketing plan for both the property and
your budget.
top
Open Days And
Inspections
Open days and inspections serve well in a
competitive market to maximise viewings and reduce the stress and
inconvenience to you as the homeowner. Prospective buyers like the
convenience and pressure-free environment of open homes. Some final
touches to your home on open days will help create a welcoming
atmosphere. (see Presenting your Home Check List)
top
Dealing With
Offers
Private Treaty
It is most important that
your agent conducts all negotiations on your behalf. Offers will be
discussed with you in detail so that you can decide if all the
details such as price, settlement date and finance are satisfactory.
Important points to remember are:
You are not obliged to
accept any offer even if it is at the advertised price (although
this is unusual).
If you accept a verbal offer, any holding
deposit paid to the agent is fully refundable if the buyer changes
their mind.
Conversely, the same buyer cannot hold you to the
offer made if you decide to sign contracts with another
buyer.
The agreed deposit (usually 10% of the purchase price)
will normally be paid into the agent's Trust Account as
stakeholder.
In NSW a five day cooling off period can apply in
which the buyer may withdraw from the contract forfeiting only a
small penalty payment.
top
Auction
Unless
you have accepted an offer before the day of the auction, it will be
on that day that your sale is most likely to be made, although some
sales do occur after the auction and within the auction agency
period.
Based on buyer feedback, the state of the market and
other factors, your agent will assist you with setting a realistic
reserve price for the auction.
Don't be too disappointed if
the property fails to sell on the day "under the hammer". Many sales
take place immediately following the auction or within the auction
agency period. Important points to note are:
You are entitled
to have a bid or bids made on your behalf during the auction. This
can be useful to either open the bidding or to end it. This is to
protect you and ensure realistic bidding.
Your reserve price
protects you from underselling your property.
If your property is
sold at auction it is on your terms and conditions. However, the
terms and conditions can be negotiated by the purchaser following
the auction if the property is passed in.
If your property sells
at auction, the deposit is paid and contracts signed on the spot.
There is no cooling off period.
top
After The Sale
Settlement
Period
The deposit paid by the purchaser will
generally be placed either in the agent's Trust Account or invested
by the agent in an Interest Bearing Deposit pending settlement. In
most cases, settlement is between 28-42 days from the date of
exchange. When all the formalities have been completed, the
settlement amount will be accounted to you, according to your
instructions. Stamp duty is paid by the purchaser.
YOUR HOME IS
NOW SOLD. CONGRATULATIONS!
top
Presenting Your Home Check
List
In many cases, your home will be one of the
largest assets you will ever own and you can add thousands of
dollars to the sale price, simply by paying attention to its
presentation, both inside and out. Following are a few tips to
consider in order to present your home at its best to potential
buyers.
Since first impressions do count, we recommend you
start with the outside. Creating an impression of a well cared for
home is essential. The first glimpse of a well-maintained front
garden will have a positive overall effect on visitors and create a
good impression for the rest of the property.
The exterior:
Give the exterior of the home a quick fix
and makeover. Repair and paint any part of the house that needs it,
for example paint peeling off gutters, facia, doors and windows.
Replace any rotting timber, loose deck boards, steps and
doorknobs.
Clean the outside of the house including the windows
and frames.
Consider the following for specific
areas:
The Lead up to the house:
Keep paths swept clean of
leaves and grass and hose down on "open day".
Clean/paint
the gate and letterbox.
Pay attention to any creepers and
branches over-hanging roofs and gutters. These should be pruned
back.
The Grass:
Start garden improvements as soon as a
decision is made to put the home on the market.
Lawn
fertiliser can be applied to green up the lawns.
Keep the
edges neatly mown.
General:
Rake up leaves and other garden
debris.
Roll up the hose and put it away. Also store other
garden tools and rubbish bins out of sight.
Pools:
A pool can be a great asset for those looking for
a home with entertainment and recreational facilities. Owners should
ensure that the pool has been vacuumed and is clear of leaves on the
top as well as the bottom of the pool. Deckchairs and covers should
be displayed to present an attractive environment.
The Interior:
The key to an inviting interior is creating
a welcoming feel to the home. Presenting a tidy yet lived in home,
with plenty of light and space will do wonders.
Start with
the walls and ceiling. Often all that's required is a good wash,
however if this does not get rid of all stains, especially those
left by water leaks and grubby fingers, then the walls will need
painting.
The door and window frames should also be cleaned
and painted where necessary.
Make sure all lights work and check
the strength of your globes to ensure a warm yet bright light in
living areas and a more white light for work areas such as the study
or kitchen.
The kitchen is one of the main areas a buyer will
be interested in. Make sure all surfaces are clean and clear of
clutter and that the electrical equipment that is being sold with
the house is spotless and in good working condition.
The
bathroom is another important area of the home and should not just
be spotless but hygienically clean. The floor and wall tiles must
shine and be free of mildew. It may be a good idea to replace the
shower curtain, toilet seat and towels. White towels can help
brighten a dark bathroom whilst contrasting rich colours give a
white bathroom a sharp fresh look. A plant or flowers will also add
some interest.
Show off the rooms to their best advantage.
This will probably mean boxing some of the clutter and placing it in
the garage/shed. An uncluttered room can create a feeling of relaxed
openness.
The temperature and aroma of your house are also
central to making your home attractive. In the summer the home
should be kept cool and in the winter it should be warm. Odours such
as smoke, pets and food smells can be eliminated with the use of air
fresheners and carpet fresheners.
On Open Day:
Remember that buyers will usually be
visiting a number of properties on the same day, and yours may very
well be in competition with others on the market at the same time.
Here are a few tips to make your home stand out from the crows
during their visit.
Have some soft music playing to
create a warm and relaxed atmosphere.
Freshly brewed coffee
and freshly baked bread can create a winning aroma.
Add
vases of fresh flowers around the home.
Leave the lights and
lamps on and open the curtains.
Have the air conditioning or heat
operating before the open commences to create a welcoming
atmosphere.
Make sure the beds are made, the dishes washed and
papers and toys stored away.
top
| 
