Selling Information

  • Selling Tips

    The preparation you put into getting your property ready for sale can be the difference between getting a standard price and a great price. The best part is, it's not hard, time consuming or expensive.

    Whatever your motive for selling, the process can either be stress free or tense and disappointing. The good news is that you have the ability to choose. There are four factors that will influence the outcome of any sale.
  • Presentation

    A tidy home says "Welcome". Your home should be kept neat and tidy during the period of inspections. It should not necessarily be a "show place" but appear a comfortable home in which to live. Fresh flowers or indoor plants always brighten up a home.

    While you’re cleaning, think about each room and what furniture really needs to be in it. Rooms look smaller when they are crowded. Clear out anything that's not needed to create a feeling of spaciousness.

    Make sure that all minor repairs are completed. Sticking doors and windows, loose door knobs, faulty plumbing, peeling paint or faulty flywire may affect your sale.

    Let plenty of light into your home. Nothing improves atmosphere more than brightness. And on a dull day switch on some lights prior to arrival of prospective purchasers.

    A warm comfortable heated home on cold days adds a feeling of cosiness; on a hot day don't forget to turn on the air conditioner or fan (or simply let the breeze flow through).

    Avoid having too many people present during inspections. Be courteous but don't force conversation with a potential buyer. The prospective purchaser wants to inspect your home - not pay a social call.

    As a general rule it is advisable to turn off radio and television sets during inspections as they can be very distracting. Keep your pets out of the way (preferably out of the house). Let the buyer and agent talk, free of disturbances.

    Don't apologise for the appearance or condition of your home (this does nothing but emphasise the faults). Don't discuss the details of the transaction or allow a prospective purchaser to inspect your home without your agent.
  • Showcase your home

  • Advantages of Selling By Auction

    ADVANTAGES OF SELLING BY AUCTION

    RATHER THAN BY FOR SALE

    1.RESTRICTION OF A CEILING PRICE

    House & land buying is often based on emotional issues and it is difficult to always predict price thresholds accurately. Properties in demand locations should be made available in an open, competitive environment in order to solicit feedback on price (by the way of offers and bids) without the ceiling of a set asking figure.

    If an asking price is too high you will still get people to inspect the property, however, they will expect more for their money (e.g., more land, newer kitchen and bathroom, better position or a larger home) and therefore the inspections are “wasted” and valuable selling time is lost whilst the property is still “fresh”.

    If a property becomes stale in the eyes / minds of prospective purchasers, even obtaining ‘market value” can be an enormous challenge at this point.

     

    2.HEALTHIER LEVEL OF ENQUIRY / INSPECTIONS

    Purchasers are more inclined to enquire/inspect properties scheduled for Auction as they believe the Vendors are more motivated to sell. On many occasions they suspect that people attempting to sell privately are only prepared to sell if they get “their price” which is frequently above market value and in addition the vendor is looking to achieve a sale with little contribution to any form of advertising or promotion. A vendor who makes a firm commitment to thoroughly promote their property is normally making a very clear statement to the market place about their genuine desire to sell!

     

    Importantly, as a price is not quoted in an advertisement for a property being sold by auction, the level of phone enquiry and inspections generated should be far superior. It is distinctly possible that a buyer enquiring on a property worth $330,000 to $350,000 may only have $280,000 to $300,000 to spend, however, with good referral skills the sales person may be able to sell them an alternative property. This thorough use of every phone enquiry can only benefit every single one of our vendors clients.

     

    3.DEFINED TIME FRAME

    By adopting a time frame (as you do with an Auction), there is a given day and time in which prospective purchasers must “perform” if they are sufficiently interested in a property or risk missing out altogether.

    This pressure is vital as many purchasers tend to procrastinate when looking at properties for sale privately.

     

    4.UNCONDITIONAL SALE

    Another crucial strength in favour of the system is the unconditional nature of the sale. It is highly likely with a private sale that a buyer will impose conditions such as subject to their solicitor approving the documentation or (subject to) finance or a satisfactory builders / architects report. Whilst these things might eventually sort themselves out, it slows the selling process down and it can result in frustrating time delays for both the vendor and company handling the sale.

     

    With an auction, unconditional contracts are signed and exchanged immediately upon the fall of the hammer and a 10% deposit paid by the purchaser. There is no opportunity for your purchaser to have “buyer remorse” and use their 5 working day allowance to “cool off”! Unless a property has been misrepresented by the salesperson / company it will not allow the purchaser to withdraw from the contract.

     

    5.COMPETITION

    To create competition by fully publicising the property and so allowing interested parties to compete (bid) against each other, which often results in a much higher price being obtained than the reserve fixed by the vendor and salesperson in consultation. Obviously this cannot occur with a private sale. A competent auctioneer can take full advantage of people’s natural vanity and determination not to be “beaten” in a public forum.

     

    6.PUBLICITY

    With vendors normally spending between 1.25-1.5% of the actual value of their property on advertising, they are able to inform a considerable number of people that their property is available for sale.

    Also, the fact that there is a board on the property allows neighbours and anyone who passes, to become unpaid salespeople by “spreading the word” to people e.g., friends or relatives who may be interested in purchasing that particular property (I appreciate this last point applies to a private sale board as well).

     

    7.MORE SELLING OPPORTUNITIES

    An auction offers three opportunities to sell. Firstly, if a satisfactory offer is made prior to auction, a sale may be affected. The greatest chance should present itself on auction day. If the auction is not successful, most properties usually sell within a very short period after the auction.

      

     

  • Home Sellers Guide

  • Selling with pets

  • Selling by Auction