10 steps to selling your home in tough times

If you are thinking of selling your home in tough and challenging times, it is expected you will have many questions. Questions about how the process will work - particularly how any government regulations may impact the selling process.

If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.

YES, DOWNLOAD MY CHECKLIST

We are here to help. Below are 10 key steps to selling a property in tough times or a tough market.

1. Research the local market
Talk to your local agent as they will know about buyer demand in your current local market. They will be in constant contact with their database, and have a good outlook on buyer demand. You can do some of your own online research via various real estate platforms to find out the sale price of property in your local area. This will provide you with valuable insights if you are looking to price your home to sell.

2. Get a property appraisal from your local real estate agent
Learn how much you could expect to sell your property for in the current market.  Property appraisals can be conducted by appointment with our office, which is applying the strictest of hygiene procedures and practices. We can also offer virtual house appraisals, if you prefer. We would ask you to walk through your home on Facebook or Instagram Live, Facetime or a similar virtual process.

Whichever process you prefer, we will review your property with the following in mind:

• Key Selling Features
• Location
• Buyer demand
• Relevant market data
• Wider market trends
• Properties currently on the market

We will summarise our conclusions and results, and deliver a thorough report on the local market, along with a suggested price guide for your property. When listing your home to sell, it can be difficult to ascertain what makes a good real estate agent. Selecting the right agent is an important part of the process, so make sure you feel comfortable with your agent, that they have the right local market knowledge and experience, and that the report you have received from your appraisal is detailed and informative.

3. Choose a method of sale
The main ways to sell a property in Australia are by selling by private sale or selling by auction. Each method suits different properties and different markets. Considerations for each method will take into account factors such as

• Market demand
• Buyer activity
• Property type
• Location
• Timing
• Personal preference

All our auctions can be hosted online or live at the property.  Our buyers have the opportunity to watch, register, bid, buy and exchange on live property auctions.

For private sales, we will negotiate with buyers using normal methods such as phone, email and digital meeting platforms, to achieve the best possible results for you and your property.

4. Prepare your property for sale
While it may not always be possible to always engage a stylist for your home, there are plenty of simple design tips and ways you can present your property to sell. Watch the video and learn more about how simple measures such as decluttering, depersonalising, cleaning, minor repairs and front street appeal can help prepare your home for sale.

5, Engage and hire a conveyancer
Selling a property is a legal process, and managing the documentation and settlement can be complicated. We recommend having someone who is qualified and knowledgeable in this area and your State or Territory, this will give you peace of mind and allow the process to run smoothly.

6. Promotion of your property
Your agent will work with you to create a customised marketing strategy within the boundaries of the current regulations and guidelines.  There are options for 0% up-front marketing costs to take advantage of. We recommend you speak with your agent about structuring the best marketing campaign for your property and your local market during this time. Making the most of innovation and technology, and property videos, when promoting your property for sale is important to ensure maximum exposure to all potential buyers.

7. Property goes live
Inspections will be arranged by private appointment, open homes, or by way of a virtual method making use of virtual tours, or FaceTime inspections.

If you are selling by private sale, interested buyers will make an offer to your agent who will present them to you for consideration. The agent will then negotiate on your behalf until you are happy with the price. If you are selling via online auction, buyers will bid, buy and exchange on live property auctions remotely.

8. The contracts are signed and shared electronically, and deposit paid
Once the buyer and seller have agreed to sell the property or it has been sold by online auction, the first step to legalise the sale is to sign and exchange the Contract of Sale.

There will be two copies of the Contract of Sale, one for you and one for the buyer. You each sign one copy before they are swapped or ‘exchanged’. This process can be facilitated by your real estate agent, or conveyancer. Given current regulations and guidelines, it can also be done electronically.

At the time of the exchange, the buyer is required to pay a deposit, which is normally 10% of the purchase price. This will be held in trust by the real estate agent until settlement.

9. The property settles
As settlement approaches, your conveyancer will work with the buyer’s settlement team to ensure all the legal obligations of the contract have been fulfilled. Final payment of monies will be made to you, and the keys will be handed to the new buyer.

10. Celebrate
In the current social distancing climate we recommend getting on a group chat with family and friends to celebrate and share your good news.

If you're ready to discover the secrets to being ready to sell your home, download our free insider secrets to being ready to sell checklist.

YES, DOWNLOAD MY CHECKLIST

We hope that has helped you today. If you have any questions we would love to talk to you and can be contacted on 0426 264 771. We hope you and your loved ones remain safe and healthy. We also want to assure you we are operating – it is still business as usual. Most importantly we are here to help.

Considering how you can Right Size your Home and perhaps move into Aged Care? Register for this short course and learn how to best right size your home when moving into aged care.