Select the right real estate agent

Selling a home or investment property is a big decision and selecting the right real estate agent to sell your property is an important step in the selling process. The right real estate agent will be able to provide local experience and advice and will help you along the way to achieve a seamless and stress-free sales process.

Make sure you do your research. Research potential agents to ensure they have a solid knowledge of the market that you are selling in along with schools, transport, amenities, and demographics. They should also be familiar with current property for sale, recently sold properties, and buyers in the area.

Communication is key when dealing with buyers and sellers so ensure the agent you choose has a communication style that you’re happy with.

Choose the method of sale

Sale by private treaty or auction? Which is the best method of sale for you?

Sale by private treaty involves setting a realistic asking price and putting it into the market for sale. This can be tricky as if you underprice your property and it sells quickly, you cannot maximise the price though if you overprice your property you run the risk of it sitting in the marketplace for a prolonged period of time, therefore becoming ‘stale’.

Selling at auction injects urgency and competition into your sale and ensures pre-qualified buyers have their finances in place and are ready to act once auction day arrives. With no cooling-off period, once the hammer falls the sale is final.

Your agent will help you choose the best method of sale for your property, based on your local market’s dynamics, however, at the end of the day, the method of sale is entirely up to you.

Establish your asking price

Based on the location of your home, its age, size, features, and various market variables, your agent will guide you in establishing a realistic sale price for your home.

Ultimately, the sale price of your home should be based upon prices achieved for similar properties in your local area. A realistic asking price is the key to obtaining a timely, successful sale.

Prepare your home for sale

First impressions count so before you place your home on the market it is important to make sure your home is appealing as possible.

You don’t need to spend a lot of money and small changes can sometimes be all that is needed.

Ensure minor repairs are completed, your home is clutter-free, gardens are neat and well maintained and pet bowls and toys are stored away.

First impressions last so draw your buyer's attention to your property's best features.

Read Preparing Your Home For Sale Guide:

List your home for sale

When you have decided on an agent to sell your home you will be asked to sign an agency agreement. This will outline the fees and charges and expenses that you are required to pay the agent.

Choosing a marketing plan to ensure maximum exposure is critical to achieving the best price. A well-planned campaign incorporating, signboards, digital and print media, and a current database of potential buyers will attract the right buyers for your property.

Now your property is ready to be placed on the market.

Review offers and negotiate

It is essential to take every offer seriously as sometimes a genuine buyer will start with an unrealistic offer, giving your agent the opportunity to negotiate. It is also not unusual for several offers and counter-offers to take place before a price is agreed on. You should also be prepared to negotiate on the date settlement is to take place. 

Accept an offer

Once you have accepted a verbal or written offer it is time for the contract to be signed and the deposit to be paid by the purchaser. This is generally 10% of the selling price with the balance to be paid upon settlement. This is also when the sales process is handed over to a conveyancer or solicitor who has the knowledge and expertise to handle the transfer.

Settlement

Settlement day is when the balance of sale is paid and keys are handed over to the purchasers. Until this point, the property remains the vendor's and insurance remains the vendor's responsibility.

It is also normal for the real estate agent to deduct their selling fees from the deposit upon settlement. The remainder will be transferred into your bank account.