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If you’re looking to sell your property fast, finding a quality real estate agent is an important first step. Your local area will have a range of agents to choose from, each with different experience and skill sets. You can start narrowing down the list with our quick agent comparison service and be on your way to a quick sale in no time.
Key Takeaways: Act Decisively: The initial weeks a property is on the market are critical. Buyers are less likely to consider older listings, potentially perceiving them as problematic, which can limit your reach and sale price Be strategic with expenses: Balancing costs like agent commissions and targeted, high-impact repairs against the potential for achieving a higher sale price and minimizing risks Engage a Quality Real Estate Agent: Finding an experienced and skilled real estate agent is a crucial first step to facilitate a fast and effective sale.
First off, the best time to sell your home is within the first few weeks of putting it on the market. After this time, potential buyers may consider your house hard to sell and equate that to a fault with the property.
For this reason, buyers often disregard old listings completely, which means you won’t be able to reach all the people that would normally be interested in your property. Your best bet for getting the highest price for your property is to start your marketing strong and sell fast.
Take the guesswork out of finding an agent and understanding the sale process. Where do you need an agent?
If you want to achieve the highest possible sale price, then you should think about which method of sale will work best for you and your property.
There are different methods and they each suit different property types and sale situations.
Sell By Auction
Selling at auction is often advantageous if you’re selling a home on the top end of the property market – or if demand for houses in your area exceeds supply. A good real estate agent will analyse local data and will advise you on whether an auction is the best method to sell.
Doing your research is important because auctions can prove rewarding if you do it right.
The cost of selling by auction depends on a few factors but you should budget between 3% to 5% of your expected sale price.
Sell By Private Treaty
Selling by private treaty is by far the most common way of selling property in Australia, but it can be a bit confusing to those new to the process.
Selling by private treaty involves the owner determining a desired price for their property and then negotiating with possible buyers, usually through a real estate agent. Unlike an auction, this method offers for greater flexibility in a private negotiation of price and sales conditions without a set sale date.
Before you choose to use it, it’s important to know if it’s right for you or whether you’d be better off choosing another method to sell your home.
You want to prioritise repairs and improvements that have the highest impact on sales price. Avoid major, costly renovations that you are unlikely to recoup investment, such as high-end kitchen or bathroom overhauls that are not in line with the neighborhood’s value.
Similarly, avoid highly personalised or taste-specific improvements, as these may deter potential buyers who prefer to make their own changes.
Try to tick off as many obvious jobs as you can, including:
It’s tempting to dream of the tens of thousands of dollars you’ll save by doing it yourself.
But while there are potential advantages to selling your own home, most of them being savings in commissions, fees, and marketing costs, there are also significant risks. This is why we’d recommend speaking to an agent even if you’re looking at selling your property yourself.
Advantages
The benefits of selling privately are entirely cost-related.
By being your own agent, you avoid commissions and fees that reduce profits. The average agent commission is 2.4%, so depending on the sale price of your home, you could save $18,000–$20,000.
You can cut marketing, cleaning, and repair costs by doing things right. But that is a big “if” and you could end up paying more than with an agent if you’re not careful.
However, the internet has created an industry of specialised businesses and services, with dozens of websites now offering help selling your home privately for much less than a real estate agent would charge.
Disadvantages of Selling Privately
The biggest disadvantage is that homeowners sell for less than agents. A full-time agent can market your home, find the right buyer, and get the best price.
While saving tens of thousands on commissions may seem worthwhile, experts warn private sellers often lose money.
A reliable, affordable real estate agency contracts a network of cleaners, repairmen, and marketers. Agents’ steady work inspires these companies to provide excellent service.
Private individuals often lack these networks, so bad decisions could raise service costs or lower home values.
It also takes time to be your own agent. Being a real estate agent is a full-time job, and many people don’t have time or energy to represent themselves.
Risk is last and crucial. An agent’s best service is providing sellers with expert advice and a risk buffer. The agent will share liability and repair costs if something goes wrong, saving you time and money.
Buying and selling a home at the same time is complex and needs careful planning for good coordination.
Two common strategies help manage this process. First, you can make an offer on a new home ‘subject to the sale’ of your current one. This condition protects you from owning two homes, but sellers may not prefer this type of offer.
Second, when you sell your home, you can ask your buyer for a longer settlement period. This extension gives you more time to find and purchase your next property once your sale is secure. However, buyers may not agree, and you will cover holding costs longer.
Both approaches require good negotiation and understanding your risks to make your move smoother and reduce stress.
Other choices are available on the finance side of things including using a bridging loan. This type of loan can help if you decide to buy a new home before you sell your current one.
Another approach is to sell your existing home first and then rent for a short period, which can reduce the pressure of buying your next home.
To sell a house, it needs to be priced correctly, presented well and marketed exceptionally. If you keep these three things in mind, you are setting yourself up to do well from the start. Make sure you do the following to get your house ready for sale:
Pricing correctly requires carrying out a thorough analysis of current market conditions and recent comparable sales to determine a price that attracts serious buyers while not undervaluing your asset. An accurately priced home attracts more interest and is more likely to sell quickly.
Presenting well means showing your home in the best possible light, which includes decluttering, depersonalising, and keeping it clean and well-maintained. This allows potential buyers to imagine themselves living in the space and appreciating its key features, thereby increasing its appeal.
Exceptional marketing ensures that your property reaches the broadest possible pool of qualified buyers by combining online listings, professional photography, engaging descriptions, and possibly other methods such as virtual tours or open houses.
A knowledgeable real estate agent can guide you through this process ensuring your property is perfectly positioned for a successful sale.
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