How to Sell your property
So you’ve decided to sell your property .......What now?
Once you’ve decided to sell your property, the first thing to do is to consider how to sell it. Most people use an agent to undertake the process on their behalf. The key to your decision is to find someone you trust, with whom you have a rapport and someone who will listen to what you say and act upon it.
At Ham Kerr Property, we pride ourselves on meeting our clients’ needs and offering them the best customer service possible. Our sales primarily come through referrals from satisfied clients.
Once you have appointed an agent, you need to discuss and decide on the following:
- The best method of selling.
- A time frame.
- Developing a marketing plan.
- The cost of implementing the plan.
- Presentation tips * (Ring or email us for “The Homesellers’ Guide” free booklet.)
- Necessary renovations or improvements before selling *(Ask us about our new division.)
- Setting a price for the property.
- Proposed open house dates and times.
- The screening of potential buyers.
- The Agent’s commission or fees, including any advertising.
Selling Methods
When it comes to selling your property, our intention is to recommend to you the best marketing strategy, not only for your property, but also for you and the timeframe that you have in mind. Our goal is, of course, to achieve for you the maximum price. Our recommendation to you is based on a number of criteria: the style of your property, the demand for such a property, the best and most cost effective marketing and advertising mediums, your timeframe and the current economic conditions. However, the final decision on the method chosen is always yours.
Selling by Auction:
This method of selling is done in the public arena. Auction is a firm, unconditional sale and there is no “cooling off” period. Once the bidding reaches the reserve price the property is declared sold; the agent will then immediately prepare the contracts for signing by the purchaser and the vendor. The deposit (usually 10% of the sale price) is deposited, according to law, into a trust account on your behalf. Auction has many advantages but the two main ones are: it creates a sense of urgency through the use of a deadline; and it is efficient at handling the issue of price by attracting feedback from the market.
If the reserve price is not reached the property is said to be “passed in” and is then available for sale by private negotiation. The majority of passed-in auctions sell very quickly, some right after the auction when the agents negotiate with the highest bidder and anyone else interested. Many more sell over the next few weeks, once the owner has set a sale price.
Private Sale
This is where the property is listed for sale and interested parties contact the agent to inspect the property and may make an offer to purchase the property either at the listed price or at some other figure. As agents we need to be responsive to the signals that the market conveys to us when marketing by private sale. The setting of the price is critical because it acts as a filter for buyer enquiry: if the price is too low you may sell too quickly; if the price is too high you may never sell at all. It is our job to advise you on the best pricing strategy. All offers are referred to you for consideration. Negotiation will take place until both parties reach agreement at what will become the sale price.
Settlement
This usually occurs within 60 – 90 days after signing the sale contract, but the date can be negotiated between parties. At settlement the buyer pays the balance of the purchase moneys and the vendor hands over the keys and the title deeds.
Presenting Your Property
There is an old saying in real estate: “You never get a second chance to make a good first impression.” You should have this axiom in mind when preparing your house for sale. Right from the front gate you should ask yourself if there is anything you can do to improve that first impression. Selling your home is like selling a car. It is best to restore it as closely as possible to its original condition, or to give it a cosmetic makeover in order to attract a wider range of buyers to obtain a maximum price. This can be done by giving it a homely feel, creating space, bringing in light, making it sparkle, paying attention to the most important areas, adding fresh flowers, etc. If you need more information on how to go about this, please ring or email our office for the series “The Homeseller’s Guide”, free booklets that will give you the tips that you need. Email: Ham Kerr Property .
Makeovers and Renovations
Our new division HKP Home Solutions can advise you on simple makeovers and changes you can make to your property that will give it more appeal and to bring it up to date.
There is an old saying that you have to spend money to make money. When it comes to selling your house, a little expenditure on the presentation of the house can reward you with thousands of dollars more for the sale of your property. We have experts on our staff who can advise you, find the right trades people, coordinate the project in a timely fashion for the minimum expenditure. Click here for more information: Home Solutions.
Prized Position:
140 Winmalee Road, Balwyn
Private Sale $2,400,000 to $2,500,000
Expression of interest.
More details about here.
