STEP BY STEP GUIDE TO SELLING YOUR HOME
We often talk about buying and selling property as being a time of mixed emotion, and nothing tipifies that more than making the decision to sell your home. The decision to list a property can eventuate for many different reasons. In some cases it’s due to a desire for a better home, a nicer location, or even due to a change in employment necessitating a move. In other cases it can be due to some of the challenging elements of life where the decision is forced upon people. Whatever the background to the decision it’s important to follow a few key steps to achieve a good outcome, and today’s blog is all about exploring those steps with McAdam & Turnbull Realty Principal and selling agent Lachlan Evans.
A respected and long time selling agent Lachlan advises his clients that achieving a property sale is a process and not just a single meeting with a sales agent. The seller needs to be able to work and communicate effortlessly with the agent, and understand the sales appraisal, marketing plan and the costs of selling. That’s why the selection of the right agent is so important to a successful outcome.
Let’s now break down the process a bit more…….
- Talk to the prospective agent and get a good understanding of the process they will take to successfully market and sell your home.
- Ask about the marketing plan, the appraisal process and the costs involved in selling.
- Upon selecting the agent you will need to sign an agreement to engage their services. The agreement outlines the costs and time frames amongst other information. Ask questions and seek legal advice if you don’t understand anything in the document.
- The appraisal – Upon engagement the agent will appraiss the property to assist in setting an appropriate list/sale price. The appraisal will look at the property, its features, it’s location and other factors relative to properties in the area and similar recent sales. After gathering the data the agent will prepare a report for your consideration.
- The marketing plan – The agent will prepare a plan outlining the marketing strategies and costs aimed at achieving a successful sale in the desired price range. The marketing plan will generally look at signage, digital and print advertising, on-line real estate sites such as realestate.com.au, flyers and even TV or radio in some circumstances. Sale by auction is another selling strategy and is the subject of a separate blog and not explored here.
- Photos and other marketing collateral – Depending on the property, its target market and other factors the agent will arrange marketing collateral such as photos, video, virtual walk-though videos, drone footage and other options.
- Implementation – All the strategies are then implemented by the agent.
- Inspections – Depending on the approved marketing plan, inspections will be advertised and scheduled either on pre-set dates or as enquiries are received. Other options such as open houses may also be used. Your agent will engage with you about strategies to prepare and present the property to prospective buyers in the most appealing way whilst attempting to minimise the impact on your daily life.
- Offers and Contracts – When a prospective buyer decides to make a formal offer the agent will prepare the necessary documents and guide the negotiations through to conclusion whilst providing advice and information to you during the process. After a sale has been negotiated a contract is signed and the process then moves into the settlement phase.
- At this point we recommend you check out our recent blogs on the ‘Step by Step guide to buying a home’, ‘Tools for first time investors’ and the ‘Step by Step guide to getting a home loan’ for further details and information on the final phase of the selling process.
The real estate market is crowded with a sea of agents all seemingly offering a similar service. However, you need to look closely at the knowledge and experience of the agent and the actual service they provide from start to finish.
McAdam & Turnbull are focused on building strong relationships and delivering outcomes that meet the needs of all home sellers, and believe good engagement and reliable communication is at the heart of a successful property transaction.
The process of selling property can be complex and every persons situation is different. This blog isn’t intended to cover every step and circumstance involved in selling property, and today we’ve given you a broad introduction.
McAdam & Turnbull Realty are your local real estate professionals supporting buyers and sellers in Toowoomba and nearby surrounds. You can follow our Principal and agent Lachlan Evans at www.linkedin.com/in/lachlan-evans-621bb583 or view our current listings at http://www.mcadamturnbull.com.au and LIKE us on Facebook @
This publication covers real estate, property market, finance and legal related issues in a general way. It is intended for general information purposes only and should not be regarded as professional finance or legal advice. McAdam & Turnbull Realty recommends that professional legal and/or finance advice should be obtained before taking any action on the basis of the general information presented in this publication.
Written and Published by www.presentprofessionally.com.au