26 Considerations When Selling Your Property (from A to Z!)

Selling your property can be a stressful process. To make the process smooth, it is important that you have the best team assisting you. There are a number of things that you can expect to experience during the sales process. We have listed a few things that you can expect, from A to Z below.

26 Considerations When Selling Your Property (from A to Z!)

AGENTS

Choosing a real estate agent or real estate agency is one of the crucial factors for successfully selling your property. LocalAgentFinder has made the process easier by creating a platform where property sellers can find and compare agents and assess them by:

  • Their real estate fees and commissions
  • Their sales performance
  • Their referrals and endorsements

BUYERS

If you want to successfully sell your property, your property needs to attract prospective buyers that are qualified to purchase your property.

COMMISSIONS

Real estate agents’ commissions are a big deciding factor for many property sellers. Rather than focusing on the size of the commission, the sellers should focus on the performance of the real estate agent to see what price and profit they can secure the seller. Their real estate agent fee should reflect the successful sales price that they have secured.

DEPOSITS

Will your real estate agent provide a buyers clause where they need to place a deposit on the property if they are genuinely interested in it? And if so, how much should it be?

EXPERIENCE

The experience of selling your home can be pleasant or a horror. Many people that go about the property selling process tend to make critical errors that affect them over the long-term. To avoid this, partnering with highly experienced property sales agents will give you the best opportunity for a positive selling experience. It is best to compare and contrast the skills and performance factors that real estate agents can offer.

FRUSTRATIONS

There are many frustrations that occur during the sale of a property. A successful real estate agent will help to minimise the frustrations and will help you resolve any issues that may arise.

GOOD INTENTIONS

You want to partner with an agent that has your best interests at heart. Speak with your agent to find out how they can help you achieve your property selling goals.

26 Considerations When Selling Your Property (from A to Z!)

HASTE

Buying and selling a property should be exercised with caution. Rushed sales tend to lead to mistakes and errors that could potentially cost you significantly over the long-term.

IMPRESSION

The agent that you select needs to leave both you as the seller and the prospective buyers with a strong positive impression that will attract the right type of buyers to your property.

JP (Justice of the Peace)

During the sales process, there will be a requirement by both the buyer and the seller to sign documents that will need to be witnessed by a JP.

KNOWLEDGE

Even though you may entrust an agent to make all of the decisions and completely manage the sale of your property, you should make sure that they are transparent and that you also conduct your own research so you are well informed about any aspects that could affect the sale of your property.

LOANS

Ensure that the buyers of your property have secured the loan or mortgage to purchase the property on offer.

MARKETABILITY

The real estate agent that you choose should know how to successfully market your property to attract potential buyers. Compare real estate agencies to see what support they offer their real estate agents and the tactics they adopt to stimulate demand for your property.

NEGOTIATE

Know how to negotiate a price that is favourable to you. When you choose a real estate agent, it is essential that they know how to negotiate and close a deal that is in your best interests.

OPEN HOUSE INSPECTIONS

The success of your property’s open house inspections will influence the success of the sale. The more buyers that attend, the more interest the property can generate and the more bidding power sellers will have.

PRICE

Pitching the right price to potential buyers is crucial. Prices that are pitched too high will deter buyers from having an interest in your property. Prices pitched too low may attract a high demand, but will also see you sell your property at a much lower price, thus reaping a much lower profit. It is critical that the real estate agent that you partner with understands the buyers’ market to pitch it to them at a price that will attract them to the property, stimulate demand and ensure that you make as much money for the property as possible.

QUESTIONS

Be prepared to answer questions and queries that your prospective buyers will have. Your real estate agent should know how to address any questions boldly and confidently so that it will persuade the prospect to proceed with the sale of the property.

RESEARCH

It is essential that you conduct proper research that will empower your selling position with your agent and with prospective buyers. Seek out statistics on sales prices for similar properties in the area.

26 Considerations When Selling Your Property (from A to Z!)

SETTLEMENT

If everything goes well with the sales process, then you will settle the property exchange with the buyers and receive the funds for your property.

TAX

Ensure that you have accounted for any capital gains tax (CGT) that you may have to pay following the sale of your property.

UNDER CONTRACT

The sale of your property will be on the home stretch with legal teams and banks checking the details for the successful exchange of the property.

VALUE

At the end of the day, you want to make sure that you are getting the best value out of your property. The right real estate agent will ensure that you cover all of the essential factors to maximise the perceived value of your property.

WORTH

You want to get an estimation on how much your property is worth. Prices can be compared from different real estate agents and property appraisers so you can get an idea of your property’s perceived value. However, one thing to remember is that the ultimate price of the property is determined by the buyer.

X (Accounting for the unknown)

Sometimes there are unforeseen circumstances that arise that can impact the sales process. A good real estate agent will foresee any potential threats that could impact the successful sale of your property and will help you manage the situation to minimise any potential damage to future profits.

Yield

You want to make as much money as possible from the sale of your property. The yield that you make will depend on the real estate agent’s fees and skills. Carefully consider both to see what your final profit yield will be.

Zone

The area that your property is based in will aid or deter buyers from purchasing your property. Does the area appeal to families that are seeking schools and a strong sense of community? Or are the buyers seeking a different environment for their own personal lifestyle.

 
 

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