THIS PRE-SALE CHECKLIST IS AN INFORMATIVE GUIDE TO HELP YOU GET STARTED

When selling your home, you only get one chance to price your property correctly. Advertising too high risks being on the market too long and the property going stale. Setting a realistic price will ensure the best price is achieved. Here is our checklist with more valuable tips to achieve the best outcome when selling your home.

1. Know The Costs To Sell

Before getting too far into selling your property, it’s critical to assess your financial situation and needs. Will the sale of this house provide enough for payment on a new home. Ensure you are aware of all the fees you’ll be faced with along the way:

  • Agent’s commission
  • Marketing fees
  • Legal fees
  • Refinancing fees
  • Valuation fees
  • Moving costs
  • Connection of utilities

The above list does not cover the cost of purchasing a
new home.

3. Know The Potential Buyers

There may be some easy, cost-effective changes you can make to tailor your property to the target market. What is the demographic makeup of the area? A family of four with pets or a young couple looking for their first home? Agents have access to statistics on the makeup of the suburb demographic and what properties are in demand. Ensure this information is in the CMA (Comparative Market Analysis) that the agent will provide you prior to listing your property

5. Design Your Selling Strategy

Once you’ve determined who your property’s potential buyers are and chosen your agent, you can sit down and work out your selling strategy. Be involved in this – don’t just leave it up to your agent. Determining your game plan now will allow you to allocate adequate funds and have a realistic timeline in mind.

7. Improve Your Home

Get into the mindset of a prospective buyer and consider the pros and cons of your home. Make a list of things that need fixing or upgrading – but be careful not to overspend/overcapitalise. Liaise with your agent on this.

9. Keep Your Agent Accountable

You’ll want your agent to give you feedback after each inspection or open house and be honest about anything you should change. Find out what may have made buyers choose other properties over yours and make changes where possible.

11. Not Selling? Reassess The Price

When a property stays on the market for a long time, the issue is most likely the price. Meet with your agent and reassess the competing market. Get an independent valuation to set the price, prepare new marketing material for your property and set out again. You may wish to consider changing your agent. When the new agent posts the property online, it will jump back to the top as a new listing.

2. Investigate The Market

Research properties which have sold recently in your area. Ask a number of real estate agents to provide you with a list or find these properties in the ‘Sold’ section of www.realestate.com.au. What did they sell for? How do they compare to your property? If you’re having difficulty sourcing this information, or limited for time, a property valuer can help with an independent valuation. It’s prudent to know the value of your property prior to engaging an agent.

4. Decide On An Agent

You may need to meet with a few agents before settling on one who you really click with – choose someone who is enthusiastic about selling your house and committed to communicating with you regularly on the progress of the campaign. The key is to work as a team – communicate your concerns, ask questions and keep in touch. Before you make any changes to your property, chat to your agent about which improvements they think will add the most value.

6. Be Prepared

Knowing your own home’s strengths and weaknesses is a great advantage – as a seller you don’t want to be surprised.

  1. Order a building and pest inspection early to identify any potential problems so you have time to fix them before letting in prospective buyers. If you choose not to repair in advance, allow for these repairs in your selling price. You can advise the potential purchaser you are aware of the issue and this has been factored into the price. Forewarned is forearmed.
  2. Prepare all documents relevant to your home e.g.
    • Guarantees for repairs
    • Warranty booklets
    • Receipts for work done
    • Council rates notices
    • Land valuation

    Prospective purchases will want this information and when they see how organised you are they will assume the property has been well looked after.

  3. Conduct a flood search to determine flood levels around your property. Be prepared to answer any questions.
  4. Conduct a development application search to see any upcoming developments that may affect potential buyers’ decisions. It’s better to be prepared with answers to a prospective purchaser’s objections.

8. Set The Right Price

This is where an independent valuation will help you. Engaging a valuer means you know exactly what your property is worth before entering into negotiations. Price your house to sell or don’t sell it – an overpriced home will sit on the market and never works out well for the seller.

10. Don’t Assume It Will Sell Easily

Be prepared and willing to make changes along the way. You may need to tweak your selling strategy or make minor changes to the property – listen to advice from agents, buyers or people in the industry.

1. Know The Costs To Sell

Before getting too far into selling your property, it’s critical to assess your financial situation and needs. Will the sale of this house provide enough for payment on a new home. Ensure you are aware of all the fees you’ll be faced with along the way:

  • Agent’s commission
  • Marketing fees
  • Legal fees
  • Refinancing fees
  • Valuation fees
  • Moving costs
  • Connection of utilities

The above list does not cover the cost of purchasing a
new home.

2. Investigate The Market

Research properties which have sold recently in your area. Ask a number of real estate agents to provide you with a list or find these properties in the ‘Sold’ section of www.realestate.com.au. What did they sell for? How do they compare to your property? If you’re having difficulty sourcing this information, or limited for time, a property valuer can help with an independent valuation. It’s prudent to know the value of your property prior to engaging an agent.

3. Know The Potential Buyers

There may be some easy, cost-effective changes you can make to tailor your property to the target market. What is the demographic makeup of the area? A family of four with pets or a young couple looking for their first home? Agents have access to statistics on the makeup of the suburb demographic and what properties are in demand. Ensure this information is in the CMA (Comparative Market Analysis) that the agent will provide you prior to listing your property

4. Decide On An Agent

You may need to meet with a few agents before settling on one who you really click with – choose someone who is enthusiastic about selling your house and committed to communicating with you regularly on the progress of the campaign. The key is to work as a team – communicate your concerns, ask questions and keep in touch. Before you make any changes to your property, chat to your agent about which improvements they think will add the most value.

5. Design Your Selling Strategy

Once you’ve determined who your property’s potential buyers are and chosen your agent, you can sit down and work out your selling strategy. Be involved in this – don’t just leave it up to your agent. Determining your game plan now will allow you to allocate adequate funds and have a realistic timeline in mind.

6. Be Prepared

Knowing your own home’s strengths and weaknesses is a great advantage – as a seller you don’t want to be surprised.

  1. Order a building and pest inspection early to identify any potential problems so you have time to fix them before letting in prospective buyers. If you choose not to repair in advance, allow for these repairs in your selling price. You can advise the potential purchaser you are aware of the issue and this has been factored into the price. Forewarned is forearmed.
  2. Prepare all documents relevant to your home e.g.
    • Guarantees for repairs
    • Warranty booklets
    • Receipts for work done
    • Council rates notices
    • Land valuation

    Prospective purchases will want this information and when they see how organised you are they will assume the property has been well looked after.

  3. Conduct a flood search to determine flood levels around your property. Be prepared to answer any questions.
  4. Conduct a development application search to see any upcoming developments that may affect potential buyers’ decisions. It’s better to be prepared with answers to a prospective purchaser’s objections.

7. Improve Your Home

Get into the mindset of a prospective buyer and consider the pros and cons of your home. Make a list of things that need fixing or upgrading – but be careful not to overspend/overcapitalise. Liaise with your agent on this.

8. Set The Right Price

This is where an independent valuation will help you. Engaging a valuer means you know exactly what your property is worth before entering into negotiations. Price your house to sell or don’t sell it – an overpriced home will sit on the market and never works out well for the seller.

9. Keep Your Agent Accountable

You’ll want your agent to give you feedback after each inspection or open house and be honest about anything you should change. Find out what may have made buyers choose other properties over yours and make changes where possible.

10. Don’t Assume It Will Sell Easily

Be prepared and willing to make changes along the way. You may need to tweak your selling strategy or make minor changes to the property – listen to advice from agents, buyers or people in the industry.

11. Not Selling? Reassess The Price

When a property stays on the market for a long time, the issue is most likely the price. Meet with your agent and reassess the competing market. Get an independent valuation to set the price, prepare new marketing material for your property and set out again. You may wish to consider changing your agent. When the new agent posts the property online, it will jump back to the top as a new listing.

WHY IS IT SO IMPORTANT TO SET THE RIGHT SELLING PRICE?

  • Maximise interest in the property: Properties that are priced correctly attract more buyers and increase competition which maximises price.
  • Minimise time on the market: Properties that are priced correctly sell faster. The more time your property is on the market, the lower the results.
  • Maximise marketing – spend return: Get the right buyers through your door to increase competition and reduce selling expenses by selling quickly.

An independent property valuation sells yourproperty at the right price, faster. When you get an independent valuation:

  1. You will know what your property is worth in today’s market
  2. You will be able to act decisively to take advantage of a good offer
  3. You have an independent expert on your side
  4. You will have a powerful negotiating tool

If we can be of any assistance please contact us on 1300 302 881 or info@wbpgroup.com.au