The Pre-Sale Journey - How to prepare your home for a successful sale

Selling a home is a complex process and requires careful consideration and decision making. Whether it’s your first time, or you are an experienced seller, it’s easy to forget things or feel overwhelmed. Like many things in life, the more prepared you are for something, the more confident you’ll be in the decisions you make. If you are preparing to hit the market, set yourself up for success by following the tips below.

Market Research

Prior to selling your home, conduct your own market research so you can familiarise yourself with current market conditions and pricing. Approximately 6-12 months before you intend on launching the property for sale, undertake the following research activities:

• Attend open homes in your local area. This will give you a feel for the asking price of houses in your suburb.
• Keep informed of upcoming developments in the area that may affect the value of your home.
• Take note of how long a property stays on the market before it sells. This is commonly referred to as “days on market.”

Choosing an agent

For most people, their home is their biggest asset, therefore it makes sense to engage a professional to handle the sale of your home. Real estate agents have the experience, negotiation skills and marketing expertise which help to achieve a higher price and a quicker sale.  They also make the transaction a smoother process for you by acting on your behalf throughout the sale.  Consider the following when choosing an agent that’s right for you:

• Use a local agent who has demonstrated knowledge and performance in your area. Have they sold in the suburb before? Are they aware of factors that might affect the market? Are they passionate about your suburb and know it’s selling points?
• Choose an agent with experience in selling your style of home. For example, an inner-city agent may not understand the complexities involved in selling an acreage home.
• Trust your gut instinct, pick an agent you are comfortable with.

Choosing a method of sale

In Queensland, the two most common methods used to sell residential property are by auction and private treaty. Both methods have their pros and cons, so ask your agent for advice as to which option best suits the needs of you and your property.

Auction – An auction is when prospective buyers gather on a set date to bid on your property. The property is sold to the highest bidder at the end of the auction, so long as the bid matches or exceeds your reserve price.

Private Treaty – A private treaty is when the seller sets the price (referred to as the “asking price”). The real estate agent will then negotiate with individual buyers in order to achieve the best price as close to the asking price as possible.

Am I ready to hit the market?

It’s a big commitment to go on the market, and not a decision to be made lightly. It involves considerable time, money and preparation. The following factors will help you to determine if you are market- ready, both emotionally and financially:

• Your next home. Have you worked out where you will be moving too? Will you buy and then sell, or sell and then buy?
• If you plan on buying or downsizing to a new home, speak to a financial advisor or accountant to discuss your financial situation prior to selling.
• Is your house well-presented and in good repair? In order to achieve a premium price, you will need to present the home in its best possible light. Is everything in good working order? Do you have the finances to make repairs if necessary?
• The emotion of letting go. If you have lived in your home for many years, you will have made many happy family memories in the home. Are you ready to let go and welcome a new family to your home?

The journey of selling your property can be a long but rewarding process. For further support to guide you through the sales process, download Rose Kelly’s free eBook ““Make the Right Choices” eBook here. <insert link> Rose has guided hundreds of sellers through the sales journey, if you’re thinking of selling, call or email Rose today.

address – Brighton, Qld 4017
postal – PO Box 608, Sandgate QLD 4017
phone – 0438 515 003
email – rose@rosekelly.com.au