Your home is one of your biggest financial assets, and selling it can be an incredibly stressful and frustrating process.
Whether you’re selling for the first time or you’ve done it a few times before, it can always be tricky working out the best strategies for success.
From choosing the right agent to presenting your home to buyers, various factors and decisions can have a large influence on the result.
Here are our five steps to selling your home:
1. Decide when to sell
Before you list your home, you should decide whether you will sell first then buy, or buy first then sell. There are pros and cons to both and you should consider the best option for your situation. If you sell first, you will have a clearer idea of how much you can pay for your next home, but you risk being forced to rent if you are in the market for an extended period. However, you can work around this by requesting a longer settlement period. If you buy first, you will avoid being without a home after you sell but you will need to ensure you are financially stable so you can cover the costs of mortgage repayments for both properties.
2. Choose a qualified real estate agent
When it comes to choosing a real estate agent, you should do plenty of research. Speak to family or friends who have sold and ask for their recommendations. Look at agents in your area that have sold similar properties to yours, check their recent results, and read reviews online. Make a shortlist of agents then speak to them in person. Take note of their behaviour, communication style, their knowledge of the market, and importantly, whether you would feel comfortable working with them.
3. Prepare your home for sale
First impressions count, which is why presentation is a key element to making sure your home attracts plenty of buyers. Depending on the state of the home, you should consider repainting walls and making any necessary repairs. You should thoroughly clean the whole home and remove any clutter. Consider adding stylistic accessories such as mirrors, cushions, scented candles and flowers as these will enhance the ambience of the home. Don’t forget about any outdoor areas, so mow the lawn, remove any weeds and think about adding new plants and outdoor furniture.
4. Choose your sale method
There are no concrete rules that dictate whether you should sell your home by auction or private treaty. Each method has its benefits and drawbacks. Have a look at how properties in your area have been selling, and speak to your agent as they will have the expertise to know how best to sell your property.
5. Be realistic about price expectations
Media reports, opinions from friends and family, and your emotions can influence your expectations on what your house should sell for. It is important to do thorough research about your area and see what similar properties have been selling for.
Don’t set your target too high and avoid being fixated on a single figure, but have a price range. Be flexible with adjusting expectations over the course of the sales campaign and have regular conversations with your agent.