Selling.
Selling your property is a big step and may seem a little daunting, however, with the right advice and preparation it can be a smooth & successful process for all.
WELCOME.
This guide is designed to help you go to the market with confidence and to help you sell smarter and faster
We’ve prepared this guide to answer some of the most common questions we are asked throughout the selling process
Selling your property is more than just a transaction it’s a transition to a new chapter of life. At MMJ Real Estate, we’re here to make that transition as seamless and rewarding as possible.
Let us help you navigate the challenges of selling and buying with confidence.
SHOULDWEBUYORSELLFIRST?
We’ve looked at the pros & cons of each scenario.
Deciding whether to buy or sell a property first is a crucial conundrum that confronts many homeowners, each option carrying its own set of advantages and challenges. The real estate market is dynamic, influenced by various factors such as location, market conditions, and personal circumstances.
You’ll know the exact amount of money you will have to put towards your next purchase.
You’ll have less urgency to sell in a hurry, so you can wait until you are happy with the sale price of your property.
There isn’t a need to apply for a bridging loan to finance both properties You won’t be in the position of having to pay two loans at once
There may be nothing suitable on the market when you need to buy You could end up having to move out with nowhere to go
You might have to pay for rent and have the added expense and hassle of having to move twice.
Prices might go up after you sell and you might be priced out of the market, or not able to find the dream home for the right price.
You could avoid moving into a rental property and multiple moving fees. You could avoid having to find a new house to buy in a hurry.
You could take advantage of a rising market and potentially get more for your money, and make more from your subsequent home sale.
You may need a bridging loan in order to finance the new property You’ll have the extra cost and stress of having to repay two mortgages at once
It may force you into selling your original property at a lower price, if you need the money to meet your loan obligations Bridging loans must be repaid within 12 months.
If you can’t sell your existing home for the price you need or expected, you may have to source additional funds to cover the shortfall.
If you’re making a conditional offer on a property, you might need to make a higher offer to convince an owner to hold the property while you sort out your circumstances.
Talk to our team about how to navigate buying or selling first mmj.com.au/ask
BESTTIME WHENISTHE TOSELL?
Agoodagentcansella propertyinanymarket.
When you’re readyis thebest time!
There is no ‘right time’ to sell your property, it really comes down to your individual circumstances.
Other factors such as economic and market conditions will also always play an important role in timing your sale
Opportunities exist in all markets, provided your agent knows how to position your property effectively
The weather is generally better and allows agents to showcase the property at its best, both inside and out
Buyer interest levels increase in the summer months Holiday destinations could benefit from additional traffic to the area
Many buyers are wanting to fulfil their New Years resolutions in Jan/Feb
Buyers have settled back into routines and are ready to make bigger decisions like purchasing a property
The weather turning presents some spectacular opportunities for gardens and outdoor areas
The autumn market offers a good balance between active buyers and moderate stock levels
Talk to our team to learn about when could be the best time for you to sell
mmj.com.au/ask
g. SpringSelling.
Less stock on the market leading to less seller competition
Buyers are often highly motivated given the lack of stock
New financial year may present fresh opportunities for investors
Springtime generally sees the property market warm up with stock and buyer activity
Buyers benefit from a wider range of properties, while sellers benefit from higher turnouts at open for inspections and stronger buyer competition
First impressions really do last when it comes to presenting your property for sale.
That means a tidy and presentable interior and exterior, as many people will drive-by before deciding whether to inspect it on open days.
Your property is usually just one in a very long list of properties a buyer will see, so it’s crucial that they see it in the best possible light
Our agents can recommend pre-sale improvements Just ask
The more desirable your property appears, the better your sale price is likely to be. Remember
RENOVATIONQUICKWINCHECKLIST
Fresh Paint: Apply a fresh coat of paint both inside and outside the property Neutral tones are generally appealing and create a blank canvas for potential buyers
Upgrade the Kitchen: Consider updating the kitchen with modern appliances, new benchtops, and cabinet hardware. A stylish and functional kitchen often attracts buyers
Bathroom Remodel: Upgrade the bathroom by replacing old fixtures, updating the vanity, and adding new tiles. A clean and contemporary bathroom can make a big difference
Landscaping: Enhance the property's curb appeal by investing in landscaping. Trim the lawn, plant flowers, and add some outdoor lighting to make the exterior more inviting
Flooring Improvement: Replace outdated or worn-out flooring with newer materials. Hardwood floors or quality laminate can add a touch of luxury
Energy-Efficient Upgrades: Consider installing energy-efficient features such as LED lighting, smart heating / cooling solutions, solar, and energy-efficient windows This not only attracts eco-conscious buyers but also helps reduce utility costs
Storage Solutions: Create additional storage space by adding built-in shelves or cabinets
Buyers appreciate homes with ample storage options
Lighting Enhancements: Upgrade lighting fixtures throughout the property Modern, wellplaced lighting can enhance the ambiance and make spaces feel larger
Smart Home Features: Incorporate smart home technology, such as smart heating/cooling appliances, security systems, or smart lighting. These features can add a modern touch and appeal to tech-savvy buyers
Fix Structural Issues: Prioritise fixing any structural issues or necessary repairs. A wellmaintained property is more likely to instill confidence in potential buyers
WHICHMETHODOF SALEWILLGETUS THEBESTRESULT?
Asalebypublicauction isarguablyoneofthe mostexciting,effective andrewardingmethodsof buyingandsellingproperty, butit’snottheonlyone.
e an effective and rewarding method ace in the market. It’s important to st way to sell your property is for you.
PrivateTreaty
A standard residential property transaction is known as a Private Treaty sale This is when you set the price you would like your house to sell for, and your real estate agent negotiates individually with prospective buyers to achieve a sale as close to this price as possible.
Setting a sale price offers greater flexibility for negotiation. For instance, a contract can be signed ‘subject to’ certain conditions such as a building inspection or finance approval.
With private treaty the length of time your home is listed for sale is flexible: unlike an auction, you are not working towards one specific date
You could expect some cost savings on the marketing and promotional expenses of an auction campaign should your property sell quickly
It may take longer to sell your home compared to an auction campaign You might need to make your home available to prospective buyers for frequent viewings and inspections
properties before they are advertised to ortunity to test what the market negative feedback and gauge pricing
gotiated, and accepted without If there is strong demand for the ld result in a higher sale price
WHAT IS THE BEST PRICE WE CAN GET FOR OUR PROPERTY
RIGHTNOW?
There are many variants to pricing a property and a good agent will take into consideration, recent comparable sales, current market stock, buyer enquiry, market trends, location, property condition and property presentation.
Recent Comparable Sales
Comparable sales would be one of the most valuable assets to have when pricing your property Comparing pricing indicators with properties recently sold, will give you a clear picture about what range your property would sit in
Market Trends
Things like interest rates, government incentives, employment trends all contribute to determining a price on your property A good agent will research these factors and be able to see how they apply to your property
Location, Location, Location
Location, location, location they say. But what is it about your location that may attract or detract buyers from looking at your property The side of the street, the direction it faces, the local amenities, the proximity to schools and beaches All big factors when pricing a property
Property Presentation
Fixing all the broken or run down things is great, but in today’s market presentation is a must. Interior styling and hiring display furniture will create a big wow factor and contributes to the emotional connection of buyers This can also affect the price
Current Market Stock
Having an accurate understanding of what is available on the market at the time of your property will allow you to compare and position your property competitively
Buyer Enquiry
Your local agent should have a thorough indication on buyer enquiry, not just for their stock but across the whole market This information would be used to determine buyer demand
Property Condition
The condition of the property is a big factor when pricing a property, having a property in poor condition can negatively impact a result Small things can make a big difference Tidy the gardens and create a great first impression at the front of the property or give the walls a lick of paint
You should always request a professional opinion on price when selling.
mmj.com.au/sell
Puttingavalueonyour propertycansometimes bedifficultwhen emotionsandpast expenditurecomeinto play,thisiswhya professionalagent’s opinionissoimportant.
HOWLONG WILL ITTAKETOSELL MYPROPERTY?
Settingtherightsalepriceforyourpropertyisimperative.Timingisalsoimportant.
A new listing will generate interest from agents and potential buyers After they have viewed the property, interest will decline which makes it crucial to list your property at the right price when it first goes on the market
The highest level of activity is when a property is new to the market.
Week 1
No. of Weeks on the Market
A well-calibrated price, aligned with current market conditions, enhances the property's appeal and attracts a larger pool of potential buyers This heightened interest can spark competition among buyers, potentially leading to multiple offers and a faster selling process
Pricing a property appropriately creates a sense of value, capturing the attention of a broader audience and increasing the likelihood of a successful sale within a reasonable timeframe
Ifyouraskingpriceistoohigh youwill reachalowerper andattractfewer
If your price is too high, you will have less interested buyers and it will take longer to sell.
Setting your listing price at a competitve market level will achieve the best possible result
If your price is too low, you will have more interested buyers but achieve a lower market price
NO. OF POTENTIAL BUYERS
The impact of pricing on the level of buyer interest during the selling period is profound, emphasising the need for careful consideration and strategic decisionmaking. Setting the right price for a property is a delicate balancing act that can significantly influence the number of interested buyers.
Overpricing may deter potential buyers, causing them to overlook the property or turn to more reasonably priced alternatives On the other hand, under-pricing may raise suspicions or lead to missed opportunities for the seller
THEREARE6KEY ELEMENTSTO ATTRACTINGA QUALITYPOOL OFBUYERS
FORYOUR PROPERTY.
A combination of effective marketing, strategic pricing, and excellent customer service will significantly increase the likelihood of attracting interested buyers to your property.
Howdowefinda seriousbuyer quickly?
Understanding & profiling the target market to tailor advertising one.
Capturing the entire targeted buyers market by engaging in broad reaching advertising
Gauging interest levels and market demand.
Extracting offers from interested parties
Navigating objections and negotiating offers into a sale
Ensuring the correct legal information & documentation for a smooth process
TargetMarketProfiling
In the highly competitive property industry, knowing which target market to advertise to is the key to a successful marketing campaign. These could include; First Home Buyers, Young Professionals, Upgraders, High End Buyers, Downsizers, Relocaters Lifestyle chasers.
Qualified pool of potential buyers.
Strategicmixed-mediaadvertising campaign.
MMJ offers a multitude of ways to promote your property to reach your target market/s and generate as many potential buyers as possible The most effective campaigns are when a mix of online and offline media such as websites, social media, signboards, print, search ads and letterbox drops are combined to attract enquiry.
When the above two elements are implemented correctly, a qualified pool of buyers will be easily obtained. From here our experienced agents will be able to further qualify and obtain offers to eventually negotiate a sale.
Target MarketProfiling.
