Selling Your Home Part One: The Sales Process
There are few decisions that have a bigger impact on your financial life than the decision to buy or sell a property. Reasons for selling homes can differ – perhaps you’re looking to cash in on an investment property’s capital growth, or your family has outgrown your current home and you need to purchase something larger. Whatever the reason for your decision to sell, there’s a common sales process that ensues. Being familiar with this sales process will give you the tools and information you need to embark on the sale of your home with confidence, clarity and realistic expectations.
Step one: Choosing an agent
Choosing the right real estate agent to list your home on the market and see the sale through to completion is of paramount importance. This agent will become your ally as you navigate a busy real estate market, helping you to identify opportunities to grow your home’s value, advising you on sales decisions and finding the right buyer to ensure you walk away with a smile on your face. So, how do you choose the right agent in a sea of options?
Here are the important elements to consider.
- Sales method – are you looking to sell your home via auction or through a private treaty sale (with an asking price)? Each option will lead to a different sales process and experience, and it’s important for you to consider each in full before making your decision. An experienced real estate agent will be able to display a sales history of successful sales completed by your particular sales method of choice, and will also be able to advise you on which sales method may be most effective for both your particular property and your timeline goals.
- Marketing reach – how will your chosen real estate agent attract buyers? Do they have enough visibility to ensure your home will appear to as many prospective buyers as possible? This is an important conversation to have with your potential real estate agent before making a final decision.
- Qualifications and experience – how long has a real estate agent been active in the local industry? How familiar are they with the local market, suburb profiles, and buying patterns? The more experience a real estate agent can demonstrate within your geographical region, the higher chances are that they’ve got a current and accurate reading of the market.
- Reviews – have other customers left glowing testimonials for the agent you’re considering? A great real estate agent demonstrates exceptional customer service at every step of the sales process, and this should be reflected by the statements of past clients.
- Negotiating power – is your real estate agent prepared to go in to bat for you in order to achieve the highest possible sales price? Can they prove a strong negotiating history?
- Additional services – house styling is becoming an increasingly popular service within the real estate industry, to increase perceived value and potentially increase final offers. Is this something your real estate agent is willing to help facilitate if necessary? It’s also important to declutter before listing your home, as less is best when taking your property to market. Make sure you’ve discussed this aspect of your sale with your agent in order to receive their recommendations on the work that needs to be done to your home to increases your success rate throughout the sales process.
- How much will they cost you? All real estate agents take commissions, but some are friendlier than others. Make sure you’ve got a full understanding of associated costs before moving forward with a final decision. Ask the agent if their commission includes GST and marketing expenses as part of their package, or if this is an additional fee.
- Is there a connection there? This may seem like a small detail, but having a true rapport with your chosen real estate agent is highly important. They’ll be side by side with you every step of the way as you sell your home and will advise you on crucial decisions, so working with someone compatible with you is a helpful place to begin.
Take a look at Part Two: Property on The Market for more helpful tips and tricks!
Andrew Diadyk is a Licensed Real Estate Agent covering Ingleburn and Macarthur’s real estate markets. Passionate about building strong long-term relationships and achieving outstanding results for his clients, Andrew is the partner you need when embarking on the sale of your home.