Your complete guide to selling – preparing your home for sale, choosing the right agent, advertising and presenting your property.

sellingGuide to successfulrealestate.com.au

Welcome

01

Contents Page

PreparingtosellFirsttimeselling 02

Whenistherighttimetosell? 02

Shouldyousellorbuyfirst? 03

Whatisyourpropertyworth? 03

ChoosinganagentWhatistheroleofanagent? 04

Questionstoaskanagent 05

Usinganagentvsprivatesale 05

AdvertisingyourpropertyFacts&statistics 06

Advertisingyourpropertyonline 07

PresentingyourpropertyFurnishedorunfurnished? 08

Presentingyourproperty–Checklist 09

Buyingandsellingpropertyisthebiggestfinancialtransactionthatmostpeoplemakeintheirlives–weunderstandthattheprocesscanbebothconfusingandstressful.

realestate.com.au,Australia’slargestrealestatewebsite,hascreatedthisSellingGuidetoequipyouwithalloftheinformation,andsomeusefultips,toensurethatsellingyourhomeisasstress-freeaspossible.

Whetherit’schoosinganagent,preparingyourpropertyforsaleordevelopinganeffectivemarketingschedule,thisguidewillhelpyoutogetthebestpossiblereturnfromthesuccessfulsaleofyourproperty.

Formoreinformation,checklistsandsellinginformationvisit:

www.realestate.com.au/sellingguide

realestate.com.au–We’llhelpyoudoyourhomework.

www.realestate.com.au/sellingguide

Firsttimeselling

Whenistherighttimetosell?

Preparing to sell

It’slikelyyouhaveagoodunderstandingofhowthepropertymarketworks.Afterall–youboughtthehouseyou’renowselling.Ifyou’reafirsttimeselleroryou’vebeenoutofthemarketforsometime,here’ssomeextrahomeworkyoucandotohelppreventcostlymistakes:

1.Puttingyourpropertyonthemarkettooearly.Evenifyou’reunderfinancialpressureitisimportanttomakesmallrepairsorcompleterenovationsbeforeyouputyourhouseupforsale.Presentingyourpropertyproperlymakesahugedifferenceinmaximisingthesalepriceofyourhome.

2.Ineffectiveadvertising.Advertisingisthebiggestandmostimportantinvestmentyou’llmakewhensellingyourproperty.Themoreyouadvertise,themorepeoplewillseeyourproperty,themoreenquirieswillbemadeandthemorepotentialbuyersyou’llhaveonsaleday.

3.Choosingthewrongagent.Chooseanagentwhounderstandsyourlocalarea,howtheareaispricedandhasexperiencesellingpropertieslikeyours.Anagentwhoofferstosellyourpropertyforthelowestcommissionmaynotnecessarilyprovidethebestserviceorresult.

Therealestatemarketgenerallyreflectsthecurrentstateofthebroadereconomy–itfluctuatesbetweenboomsandbusts.

Ideally,we’dallsellwhenthemarketisupandbuywhenit’sdown.Inrealityweoftenneedtosellbecausewe’rerelocatingforwork,upsizingasagrowingfamily,downsizingas‘emptynesters’orhavetakenthedecisiontomovetonewneighbourhood.

Traditionallyspringiswhenmostactivityhappensinrealestate.However,yourdecisionaboutwhentosellshouldbebasedonpersonalobjectivesandfactorssuchasyourabilitytofinanceanewpropertyandmeetongoingrepaymentsandthecapitalgainstaximplicationforsellingyourinvestmentproperty.

Andremember,ifpropertypricesarelow,youmaygetlessforyourhousethanyouhoped,butyou’llprobablybepayinglessforthehouseyouintendtobuy.Ifpricesarehigh,thepropertyyou’resellingwillbeworthmore,butthepropertyyouintendtobuymaycostmorethanyouwantedtopay.

Therearemanythingstoconsiderwhensellingaproperty.Thefollowinginformationwillhelpyoudecidewhentosell,whethertobuyorsellfirstandwhatyourpropertyisworth–plusvaluabletipsonavoidingcostlymistakes.

Didyouknow...

By using an agent you have access to online advertising products on realestate.com.au that can provides you with email notification when properties come up for sale in your area, so you can monitor the market and decide when to sell.

02

www.realestate.com.au/sellingguide

Preparing to sellcont...

Shouldyousellorbuyfirst?Ifyou’resellingapropertyandbuyinganotherone,amajordecisioniswhethertosellorbuyfirst.Inarisingmarketitislogicaltobuyfirst,beforepricesgotoohighandselllaterwhenpricesarehigher.Inafallingmarket,theoppositeistrue.

Somethingstoconsider:

•Anadvantageofsellingfirstisthatyouknowhowmuch moneyyouhavetoputtowardsanewproperty.

•Ifyousellfirstandcan’torganiseanextended settlementtocoverthetimeittakestobuyyournew home,youcouldfindyourselfwiththeinconvenience andexpenseofrentinginthemeantime.

•Ifyoubuyfirstinalowmarket,youmayhaveproblems sellingyourexistingpropertyandcouldfindyourself underpressurefinancingtwopropertiesatthesametime.

Thetraditionalwaytodealwiththisproblemistoorganiseabridgingloan,providedyoucanservicetwoloansatthesametime.

Arrivingatanaccuratevalueforyourpropertycandependonfactorssuchas:

•Thestateofthemarket•Currentinterestrates•Thetypeofproperty•Howmanysimilarpropertiesareavailableat thetime

Werecommendaskingtwoorthreeagentstoprovideanupperandlowerestimatetodeterminearealisticpriceanddoingsomeresearchat‘Soldproperties’atrealestate.com.autocheckpricesforsimilarpropertiesinyourarea.

Whatisyourpropertyworth?

$$$$$$$

Didyouknow...

realestate.com.au has finance calculators that can help you make the decision about whether to sell or buy first.

03

www.realestate.com.au/sellingguide

Whatistheroleofanagent?

Agentsunderstandthatbuyingorsellingpropertyisasmuchamatterfortheheartasthehead.Drawingontheirvastpropertyexpertiseandknowledgeofyourareaanagentwill:

•Providearealisticindicationofthevalueof yourproperty.•Helpyoudecidewhethertolistthepropertyfor sale,putthepropertyouttotenderortoauction.•Organise,attendandrecordprospectivebuyers atopenforinspectiondays.•Manageenquiriesaboutyourproperty.•Provideaccesstomorepotentialbuyersviatheir ownprospectdatabase.

•Handlesalenegotiationsonyourbehalfandstrive toachievethebestpossibleresult.•Adviseonandcoordinatethemarketingofyour property,includingpreparationofflyers,floorplans andphotography.•Prepareaprofessionaladvertisingprogramfor newspapersandonline.•PrepareaContractofSale.•Provideguidanceonconveyancing,legaland financialservices.

Choosinganagentyou’recomfortablewithisanimportantsteptowardsasuccessfulsale.Anagent’slevelofprofessionalismandcommitmentcantakethestressoutofsellingandcanimpactthesalesprice.

Choosing an agent

Didyouknow...

By using an agent you have access to online advertising tools on realestate.com.au that can increase the number of people who will see your property.

04

www.realestate.com.au/sellingguide

Questionstoaskanagent

Decidingonanagenttosellyourpropertyisanimportantpartofthesellingprocess,sodon’thesitatetoaskagentsquestionssuchas:

• Howlonghaveyoubeenalicensedagent?• Howlonghaveyoubeenactiveinoursuburb orregion?•What’syourexperienceinsellingproperties likeours?• Howmuchdidthesepropertiessellforandwhen?•Whatisyourtopandbottomestimateforthesale priceofourproperty?• Howmuchcommissiondoyoucharge?• Canyouprovideanexampleandcostsfora marketingschedule?

Sellingthroughanagentvsprivatesale

Formostofus,sellingpropertyisthebiggestfinancialtransactionsweevermake.Whilesomepeoplehavetheexperienceandtheresourcesto‘goitalone’,doingsoisexpensiveandtimeconsuming.

Itisimportantforyoutobeinvolvedandunderstandthewholeprocessofselling.Usingaprofessionalrealestateagentgivesyoulegalprotectionandtheassuranceofexpertknowledgefor:

• Establishingapriceforyourproperty• Providinglegaldocumentation• Developinganadvertisingcampaign•Organisingopendayinspections• Negotiatingafinalprice• Finalisingthesalethroughasolicitoror conveyancingspecialist

Propertieslistedonprivatesalewebsitesarenotseenbymanypeople–asthesesitesrarelyhaveenoughpropertystocktoattractandretainseriousbuyers.

Didyouknow...

The ‘Sell’ section of realestate.com.au enables you to search for Real Estate agents in your local area – a great starting point when developing a short list of agents.

05

Choosing an agentcont...

www.realestate.com.au/sellingguide

Facts&Statistics

Therearemanywaystoadvertiseyourproperty.Whilstitisimportanttogettherightadvertisingmix,factsshowthat:

•9outof10peopleusetheinternettosearchfor propertiestobuy

• 40%ofenquiryaboutyourpropertywillbe generatedfromyouronlineadvertising*

Despitethis,manypeopleonlyspendasmallproportionoftheirmarketingbudgetonline.Whatsomepeopledon’trrealiseisthattherearemanydifferentwaystoadvertiseyourpropertyonlinethatcansignificantlyincreasethenumberofpeoplewhowillseeyourproperty.

realestate.com.auistheNo.1realestatewebsiteineverystateofAustralia,thatprovidesyouwithaccesstomorebuyersthananyothersite**.

^AustralianPropertyReport,NielsenOnline,2008* MacquarieRealEstateBenchmarkReport,2008** NielsenOnline,MarketIntelligence,March2009

Macquarie, Real Estate Benchmark Report – Australia, 2008

Advertisingiscrucialtoagoodresult.Awell-balancedmarketingscheduleexposesyourpropertytothewidestpossibleaudience,generatingmoreenquiriesandthereforemorecompetitionthatwillresultinahighersaleprice.

Nielsen Online, Market Intelligence, March 2009

realestate.com.au

domain.com.au

realestateview.com.au

homehound.com.au

reiwa.com.au

2.5M

379,000

365,000

213,000

4.87 Million

1.0M 2.0M 3.0M 4.0M 5.0M

Advertising your property

06

www.realestate.com.au/sellingguide

What advertising generates the most enquiry for your property?

no. of people who visit realestate.com.au each month

eBrochure• eBrochureisanemailbrochure

ofyourpropertythatissenttoallthebuyersintherealestate.com.audatabasewhose‘search’criteriamatchyourpropertylisting.

• Targetbuyerswhoarelookingforapropertyjustlikeyours!

There’saperceptionthateveryonlinepropertyadisthesame.Inactualfact,justlikenewspaperadvertising,therearevariousonlineadvertisingoptions.

guaranteed Top spot• Yourpropertywillappearexclusivelyatthe

TOPofthesearchresultspageinyoursuburb.

• Includesmorephotostogenerate moreexposureandmoreinterestin yourproperty.

Feature Property• Yourpropertyisgivenapriorityplacement

andwillappeartowardsthetopofthesearchresults.

• Includesalargephotoandaredborderformoreprominence.

07

Advertising your propertycont...

www.realestate.com.au/sellingguide

Ask your agent about the products below that can help to get more exposure and enquiry for your property:

Furnishedvsunfurnished

Presenting your property

Noteveryone’stastesarethesame–particularlywhenitcomestofurniture.Somepeoplecall‘shabbychic’theheightofsophistication,otherscallit‘ugly’,‘worn’and‘mismatched’.

Evenexpertsaredivided.Somebelieveyoushouldremoveallfurnitureandofferthe‘blankcanvas’approachtoprospectiveowners.Othersbelievefurnituremakesiteasierforprospectivebuyerstovisualisetheirfurnishingsinthepropertyandimaginemovingin.

Onedownsidetothe’blankcanvas’isthatitcanshowupmoreproblemsthanyourealised:thescuffedfloorsandwallsthatwouldnormallybedisguisedbyarug,orbehiddenbyapieceoffurniture.Somepropertiescanactuallyappearsmallerwithoutfurniture.

Thebenefitofanunoccupiedhouseisthatitcanbeseenatamoment’snoticewithoutmakingappointmentsandwaitingforresidentstotidyup.

Perhapsthemostimportantthingtokeepinmindisthatnomatterwhatyoudointermsofpresentationitshouldbeappropriateforthestyleofthehouseanditslocation.

Theysayinpropertythatlocationiseverything,buttomakeasuccessfulsaleandmaximiseyourproperty’svalue,thekeyispresentation–getitrightandyou’lladdtothevalueofyourhouse.

TIP

Buy new towels for the bathroom and display them at open times.

Perception is reality, and creating a warm, homely and inviting environment will position your property ahead of other properties in a buyer’s mind.

08

www.realestate.com.au/sellingguide

Presentingyourproperty–Checklist

Fixit:Fromleakingtapstoabrokenbulb,makesuretheminorrepairsaretakencareof.Alickofpaintwillfreshenscuffsandscrapesinthewoodwork.There’snoneedtoredecorate,justsomebasicmaintenanceworktoensurebuyerscanfindnofaults.Whyletasmallthingjeopardizeabigdeal?

Freshenup:Getridofsmokeorpetodours.Openthewindows,brewsomefreshcoffee,andbrightentheplaceupwithfreshflowers.Ifyou’reburningincense,makesureitissubtle.Inthekitchen,hand-pickherbsandplacetheminaglassofwater.

Lightandmagic:Increasethesenseofspacewithmirrorsandlightsandleaveallinternaldoorsopen.

Pets:Alwayscleanandtidythedogareaandtakethedogoutduringopentimes.Feedingyourfishjustbeforetheopeningmakesthemcometothetop.

Warmth:Createwarmthbypreparingyourhometosuitthetemperatureoftheday.Ifit’scold,lightfires,turnonpatioheatersandheating.Ifit’shot,turnonfansandcoolingsystems.

Onceyou’vesignedacontractwithyourreal-estateagent,you’llneedtogetyourpropertyreadyforpeopletocomeandsee.Firstimpressionscount,sodeterminehowyoucanimproveyourproperty’spresentationandthereforeitsultimatesaleprice.

Someideastoconsider.

Pavementappeal:Makesurethefrontofyourpropertylooksappealingandinviting.Aweed-freegardenandsomeattractivepotplants–borrowedorhired–canmakealldifference.

Cleanandbright:Beforeeveryviewing,giveyourpropertyaonceover,ensuringthatwindowsarecleaninsideandout–it’ssurprisinghowmuchdifferenceitmakestothelight.

Cuttheclutter:Youwanttheprospectivebuyertobeabletoimaginetheirownbelongingsintheproperty,sodecluttertokeepthingstidy.

09

Presenting your propertycont...

www.realestate.com.au/sellingguide

sellingGuide to successfulrealestate.com.au