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Home › Sell Property › Selling Your Property: A 2024 Guide
Selling your property isn’t as simple as finding a buyer and signing the paperwork. The sales process includes a wide range of steps, including engaging a variety of professionals. Doing this well can earn you more in the long run. This step-by-step guide will help you through the sales process and maximise your chances of success.
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Once you decide to sell, it’s vital to plan and understand what you want out of the process.
You should:
Check out our article on the best way to sell your property for options on how to sell.
This process should help you choose the right agent and prepare you to answer important questions on the sale of your home.
Once you and your property are prepared for the upcoming sale, it’s time to choose an agent. Finding the right agent is crucial because they will be the one putting your home forward to potential buyers.
Here are some tips for finding a good agent:
For more tips on choosing a quality agent, check out our guide on how to choose a real estate agent.
Once you’ve chosen an agent, you will need to sign an agency agreement. To do this, you’ll need to make some choices, like how you want to sell and at what price.
The four main ways to sell are:
You may have already decided on how to sell, but you should still hear your agent out to ensure you’ve made the right choice.
Before listing your home, you need a clear idea of its value. That usually means getting an appraisal, so now is the time to declutter inside and out, tidy up the garden, take note of maintenance and repair work and generally prepare your home for sale.
Starting this work now will help you and your agent see your home’s potential and get you well on the way to a successful sale.
Your real estate agent will perform a comparative market analysis to appraise your home before you sign the agency agreement. Through the analysis, he or she will compare your home to similar properties that sold in the previous few months.
If you want to gauge an accurate estimate yourself, look at similar properties in the streets nearby. Make sure both the property and distance to amenities is similar.
A good agent will add their own expertise to the comparative market analysis, like their knowledge of:
With the sale price agreed, it’s time to sign the agency agreement with your chosen agent. Be sure to bring up any changes or queries you have before you sign.
If you’re buying at the same time, now is the time to engage a buyers agent and contact selling agents to get your name on the list for upcoming properties.
The transfer of property from one person to another must meet state and territory laws, which is why it’s so important to engage a good conveyancer. They will create two key legal documents that are necessary before you can sell:
A solicitor also offers conveyancing services, but they usually charge more because they have achieved a higher level of education in law.
The vendor statement tells potential buyers all important information they should know about the property, including:
For more on conveyancing, check out What Does a Conveyancer Do?
Later in the sales process, once you have a buyer, your conveyancer will draw up the sales contract, ensuring it meets relevant laws and is legally binding.
Unless you’re selling a renovator’s dream, your home should be:
A professional property team will help your property’s potential shine, ensuring to heighten potential buyers’ interest.
You’ll soon have potential buyers walking through your home, so now is the time to finish any renovation, repair or maintenance work that you haven’t gotten around to, like:
Potential buyers won’t see your home as you do. Try to look at it with fresh eyes and see where it can be improved.
Professional tradespeople will likely have the unbiased eyes of a potential buyer, so take the time to hear their suggestions about any problems and potential solutions exist.
Cracked windows, loose tiles or broken doors will turn buyer enthusiasm into disappointment, reducing the value of any offers. Hiring a tradie to make minor (or major) repairs can add thousands to your sale price in the long run.
It’s a good idea to get some professional advice about what renovations and repairs within your budget add most value to your home.
You can attempt to clean and declutter before inviting a professional stylist into your home, or you can wait for their expert advice. Either way, hiring a professional is a surefire way to get your home buyer ready.
Decluttering helps rooms look larger and lets potential buyers imagine how they will use the space.
A professional stylist will help you stage your home for your target buyer. They will:
Choose a partial staging of a decluttered home or a full staging of an empty home; both are designed to make your home look great and encourage buyers to pay more.
Read more about the costs and benefits of professional styling here.
Once your home looks amazing, you need the right person to capture that in photos and video. A property photographer knows the right:
The best way to maximise the value of repairs and styling is to use a professional photographer.
For more on photography costs, check out our photography price list.
Once your team of property professionals have done your work, it’s time to market your property. Your agent should have a comprehensive marketing strategy, but that doesn’t stop you from spreading the word. From here:
Many people are selling their existing property so they can buy something new: something smaller, bigger, closer to work, closer to family. Your buying team looks a little different but is important nonetheless.
Buying and selling property at the same time is a fine art. Check out our article on simultaneous property deals for some great tips.
A mortgage broker deals with banks and lenders on your behalf. The right broker will understand your needs and find a mortgage that fits your unique circumstances.
A buyers agent works closely with you to find your dream home. A good buyers agent will listen to your wants and needs and find you a selection of homes to match.
Buyers agents have a broad network of properties and often know when something is under or overvalued. They can end up saving you more than their fee on the cost of your new home.
A selling agent works with sellers to sell their home, so they have excellent knowledge of what’s on the market. If you let them know what you’re looking for and get on their buyers database, you increase your chances of finding your perfect home before someone else does.
A building inspector checks homes before they sell to ensure the building is compliant with relevant laws and regulations and to find any problems, like rising damp or structural issues.
Your building inspector will write a detailed report on the condition of the property you’re interested in buying and ensure you know about any major building defects or safety hazards.
A building inspector can also check for pest damage for an extra fee.
If you are buying an investment property, a property manager can help calculate the rent yield and undertake tenancy management. With so much to consider, property managers can:
For more on property management, check out our step-by-step guide.
Your professional property team gives you the best chance of selling your property quickly and for the best price. Your best place to start is with a quality agent. Compare local agents today to get your team started.
How to Successfully Buy and Sell Property at the Same Time
The Difference Between a Buyers Market and Sellers Market
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