How to... Sell your property for more!
Welcome to Pennisi’s ‘How to’ series. This issue explores the 4 key steps you must follow for a successful property sale. You may be new to the property market and this may be the first property you have sold, or you may be an experienced property seller and just need reassurance that you are on the right path. This guide steps you through the 4 stage process for effectively selling your property to get the maximum possible sale price.
1. Choose the right agent
Selling your property is an important life event which can be financially and emotionally demanding, and that’s why you need an experienced and trusted professional real estate agent to help you with the process. Find an agent you trust, who you believe will look after your interests and do a great job. Interview as many as it takes to find one you trust. Beware of agents who try to dazzle you with empty promises of an unrealistic price, or an expensive marketing campaign that promotes their agency but does little to sell your property.
Checklist – Key qualities of an ideal real estate agent:
- A trusted reputation in the community
- Great testimonials from past clients
- A proven record of great sales results in your area
- Knowledge of the market and what pricing strategy will work for you
- Exceptional communication and negotiation skills
- A demonstrated understanding of your needs
- A list of buyers ready to buy now
- Written service and price guarantee, over and above the standard industry Agreement
- A fair fee. Cut-price agents will usually cut-price your house. Choose the agent that will get you the best price net of fees
The method of sale you choose for your property can influence the sale price. Popular property sale methods are:
- Private treaty: Sellers’ real estate agent negotiates with interested parties. It takes a skilled negotiator to extract the best possible outcome for the seller.
- Public Auction: A public sale held at a specific place, time and date after a marketing campaign lasting several weeks.
- Silent auction: buyers make their offers in private, as a sealed bid.
Your professional real estate agent should have a recommended sale approach based on previous experience in the area to maximise your sales price.
3. Set the pricing strategy
Once you have selected the agent and selling method that is right for you, the next step is to establish your pricing strategy. A good agent has ready buyers. Early offers from these buyers are often the best offers. Be ready for this by deciding, before marketing your property, your idea of a great price and an acceptable price.
Consider a price range based on your expectations, market conditions and previous sales in your neighbourhood. Your agent should be able to guide you and provide insights into recent sales in your local area. Start at the high end of your range – someone may love your property – but be prepared to adjust the price quickly if offers are not forthcoming. Your price must generate interest online and in your agency’s database. A good agent will guide you.
4. Property Presentation
Potential buyers will be viewing your property and trying to imagine themselves making a home there. A tidy garden, clean windows, polished floors and de-cluttered rooms can significantly add to the appeal of a property. First impressions matter. Showcase your property’s unique features with prospective buyers in mind, to maximise the potential value of your property and sales price.
Maximise the sale price of your property with this quick checklist:
- Are you researching local agents to choose the right fit for you?
- Does your agent have local knowledge and expertise?
- Are they trained in negotiation?
- Have they demonstrated integrity and trustworthiness?
- Have you considered the different sales methods?
- Have you decided on your ideal sales price?
- Have you prepared the interior and exterior of your property to present it in the best possible light for potential buyers?
Still have questions? Why not talk to one of our agents?
With more than 44 years experience in real estate, we know that selling your property can be a challenge. We invite you to meet with us, to see if we can help you sell your property for more. Call 03 9379 5616 now to make a time.