Tips for sales success
You should expect more than simply big numbers and exceptional properties – expect real results, and real advice from genuine people who truly know your neighbourhood – because it’s ours too.
Five tips for sale success
Selling your property is a major life moment, so it’s important to get it right. At Jellis Craig, we understand that a ‘sold’ sign isn’t your final destination – it’s a step towards your next chapter. As a critical part of your life’s journey, we achieve the successful sale of your home with specialist care and attention to ensure we get you the best possible results. We've highlighted the 5 key factors of the sales process that will help you feel more confident and knowledgeable when selling your property.
Select
Real estate agent
Selecting an agent to sell your property should be based on a number of factors that you deem important. From an intimate knowledge of the local area or past sales success, to an ability to curate a bespoke marketing campaign and the reach and breadth of their network of contacts, choosing the right real estate agent to sell your home is paramount to achieving an exceptional result. Additional factors may be referrals from friends and family, online reviews, or even the personal connection you feel with someone.
When to sell
There are three major factors to consider when choosing the best time to put your property on the market.
PROPERTY FEATURES
Homes with beautiful gardens may present their very best in spring, whilst beach homes may attract more attention during summer. Different homes with different features present better at different times of the year, so ensure you consider when your property looks and feels its best before deciding to take it to market. Your agent will be able to advise you if you are unsure about when is the best time of year for your property and its unique features.
THE MARKET
Supply and demand, amongst other factors, determines whether we are experiencing a 'buyers' or a 'sellers' market. However, this is less of a consideration if you are a looking to buy and sell in the same market. The best way to determine how the market is performing is to speak to a real estate agent and research the property market on your own terms by attending inspections and auctions.
YOUR PERSONAL REQUIREMENTS
The most important factor of choosing when to sell is your own situation. From finding more space for a growing family, to downsizing, to relocating - there are many individual situations that will impact when it is time for you to sell your home.
Advertising your property
One of the most important contributors to a successful sale is the property marketing campaign. A well-crafted campaign will enable your property to be seen by as many active local buyers as possible, as well as pinpointing passive and out of area buyers. A strong marketing campaign helps generate excitement and competition for your property.
MARKETING CHANNELS
A strong marketing campaign includes a mix of marketing channels; from real estate portals such as REA and Domain, to property signboards, and newspaper ads, as well as digital marketing including social media and email. Your chosen agency should also be able to utilise their database to ensure buyers are aware of your property.
STYLING
Property styling can be included when taking your property to market. If it befits your situation, you may choose to engage a stylist that will be able to style your home through artwork and furniture, accentuating its best features and ensuring it appeals to more buyers.
Method How to sell
There are generally three ways real estate can be bought and sold – by auction, private sale or via an expression of interest campaign.
AUCTION
An auction is a public sale, conducted by an auctioneer at an advertised place, time and date. Prospective buyers are invited to bid at auction, and when the property is declared on-the-market, the highest bidder is the successful buyer. Auctions generate buzz and atmosphere, with an environment of transparency and competition for both interested parties and the wider community. Auctions are final and are unconditional.
PRIVATE SALE
In a private sale, your indicative selling price is disclosed to prospective buyers, however there is no set time in which an offer on the property must be submitted. Once an offer is presented, your chosen agent will negotiate with the prospective buyer on your behalf to successfully sell the property.
EXPRESSIONS OF INTEREST
A subset of the private sale is an expressions of interest campaign, this type of sale takes offers in a similar fashion to a private sale but usually has an end date and time when offers are required to be submitted. The agent will then negotiate with the buyer.
Your agent will be able to recommend the most appropriate method of sale for your property based on its type, location, the nature of the market and your available time frame and personal preference.
The Sale
The selling journey doesn’t end when an offer is accepted. The period after selling a property can be broken down into three key stages:
EXCHANGE OF CONTRACTS
When an offer has been accepted, or an auction has been successful, the buyer and vendor sign the contract of sale and exchange contracts. Property sold via public auction is unconditional and a deposit, usually 10% of the purchase price, must be paid.
COOLING OFF
If a property has been sold via private sale or expressions of interest, buyers have the right to what’s known as a ‘cooling-off period’. This fixed period of three business days can be used by the buyer to complete any inspections of the property. Once the cooling-off period has ended without objection from either party, the contract becomes “unconditional” and the settlement process begins.
SETTLEMENT
The settlement period is when the property transaction is completed. This is the time when solicitors/ conveyancers for both parties ensure the buyer purchases what they have been sold, checking for inclusions and exclusions, conditions, zoning, planning permissions, boundaries etc. Once your property has settled, your solicitor/financial institution will contact your agent's office to notify them of settlement and advise that key exchange may take place.
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