Selling your home - Understanding The Process

Selling your home can be a stressful process, after all there’s a lot to consider. We want to make sure that you’re well informed of the selling process and know what to expect every step of the way.

  • Step 1. Choosing a sales consultant
    When it comes to selling your home, one of your most valuable assets, it makes sense to take the time to choose a qualified and knowledgeable sales consultant who has the right tools and strategies at their disposal.

    When speaking with a sales consultant don’t be afraid to ask questions to make sure you trust your consultant and to make sure you’re confident they have the complete skill set to sell your home quickly and for the best price.

    Some of the important things to consider are:
    • Is your salesperson qualified?
    • Is your salesperson experienced?
    • Does your salesperson have a specific marketing campaign that suits your property?
    • Can your sales consultant negotiate with the buyer to achieve the best result?
    • Is your sales consultant focused on your needs?
    There are always sales consultants out there that will often provide you a property appraisal much higher that what’s currently realistic, this is referred to as buying the listing. Make sure you pick an agent that will work hard for you and listen to your needs, is realistic but at the same time optimistic. The last thing you need now is an elusive sales consultant that’s made big promises.
  • Step 2. Preparing your home for sale
    When preparing your home for sale, what are some of the top tips for attracting more potential buyers and higher offers?

    • De-clutter. The first tip is the simplest. It’s obviously a must, to clean and tidy your home before an inspection or photos, but it’s crucial to also get rid of clutter that could stand in the way of a potential buyer picturing themselves within the home. Also minimise personal photos if at all possible.
    • Repair. Make any aesthetic repairs well before inspection. Things as small as a chip in paint in an interior wall could detract from the overall feel for the home, so get these things up-to-date before your open home.
    • Style. Once clutter free, consider using a home stylist or home staging service. The results can be dramatic.
    • Photograph. To ensure your marketing material is of the highest standard, at Harcourts we use the services of a professional photographer to take quality, well-lit pictures of your home. Photos are the first impressions of your home that the buyer tastes. These need to attract the buyer enough to get them to the property to inspect in person. Is important you tidy up around the home and section prior to the photographer arriving. Small things out of place can make a big impact on the quality of good photos.
  • Step 3. Pricing your home for sale
    The most difficult task for most sellers is determining the value of what their home is worth. Many different elements can contribute to value including location, size, presentation and market demand. A good starting point is to study the current real estate market facts and figures. Your Harcourts sales consultant will show you comparisons of other similar homes in your area - those which have sold, those which have yet to sell and those which will represent your competition. Quite simply, the current property market and the buyers in it, are what determines the value of your home.
  • Step 4. Choosing a method of sale
    There are typically four methods of sale that you can choose to sell your home. These are:
    Private Treaty ( - Priced - By Negotiation - Deadline Treaty)
    • Exclusive listing
    • Auction
    • Tender
    • General listing
  • Step 5. Accepting an offer
    Once you have chosen your method of sale, and gone through the marketing process with your sales consultant, the next step may be to consider an offer from a potential buyer.

    At Harcourts, our commitment to you is to bring you each offer formally in writing. We will do this by providing interested buyers with a contract, and will give both you and the potential buyer the opportunity to add conditions when negotiating the sale of your property.

    Common conditions of sale are - subject to:
    • Finance
    • A builder’s report
    • Sale of another property
    • Solicitor’s approval of the contract
    • Specialist inspection or approval
    Once an offer has been accepted and all parties have signed, this is now referred to as a contract. Once the contract, if it had conditions attached becomes unconditional (conditions met and accepted), the property is now deemed to be SOLD and purchaser will be asked to pay a deposit. This usually equates to 10% of the purchase price.
  • Step 6. Completing the sale
    Settlement generally takes place between you and the purchaser and your legal/financial representatives. As the seller, you would have set, or agree to the settlement date within the contract of sale. Settlement usually occurs 30-90 days after the contract has been signed, depending on what has been agreed upon.

    The Purchasers have the right to a pre settlement inspection typically 2 – 3 days before settlement to ensure the property is generally in the same state as when they viewed, and purchased the property. The Purchasers also at this time have the right to inspect the chattels and ensure they are in a good working order as per the agreement. This is arranged and carried out with the sales consultant.

    Possession of the property usually takes place on the settlement day although you and the buyer can agree for these dates to be different.
 
Agent and client meeting