The Smart Sellers Guide

THE SMART SELLERS GUIDE

your property your money your way

SANDRAKERR.COM.AU

COVER BY TIM BRAND capturing the essence of your home www.timbrand.photography

A FEW WORDS FROM SANDRA SANDRA KERR Founder & Creator of YOUR Property YOUR Money YOUR Way Through firsthand experiences selling my own properties and dealing with real estate agents over the last 20 years, I’ve learnt what it takes to sell your own property without using an agent.

After feeling that I had been taken advantage of one too many times, I spent two years developing my program YOUR Property YOUR Money YOUR Way and applied it to selling my own property. The discovery that I was able to sell my home for 25% more than the real estate agents estimated and keep the commission was exhilarating. The fact that the process was honest, straightforward and easy to do filled me with an immense sense of pride.

My passion now is to educate and empower homeowners to take control and be successful in the sale of their property from beginning to end.

PREFACE YOUR Property YOUR Money YOUR Way is a detailed program dedicated to property owners to show how easy and simple it is to sell their own home. It takes the guess work and the stress out of selling by putting the property owner in control of the whole process.

This guide reveals the facts and dispels the myths that abound in the real estate industry. These myths have been perpetuated by the industry to ensure that agents are in control while you do the hard work and take all the risks. This guide is designed to give the seller confidence in their decision making process whether they are selling themselves or using an agent.

IT IS NOT HOW MUCH YOUR PROPERTY IS WORTH IT IS HOW MUCH WORTH YOUR PROPERTY HAS

CONTENT

05

MOTIVATION & MINDSET

08

PRICING

10

LEGALITIES

12

PRESENTATION

14

MARKETING

16

ADVERTISING

18

LISTING

20

INSPECTIONS

22

NEGOTIATION

MOTIVATION & MINDSET

MINDSET MYTH: It takes a lot of time to manage the sale of your property.

FACT: It takes good time management to manage the sale of your property.

.There are three things that you must have 1. THE RIGHT FRAME OF MIND Your mindset should be that you are selling an asset not your home.

This sale is a business transaction. Emotions are for the buyers, not the sellers.

Whether the property is full of good memories or bad is irrelevant. Your focus needs to be on the positive attributes of the property.

The reason you are selling is also secondary and should not be your focus.

You have made the decision to sell and you need to focus on selling the property to achieve the best possible outcome.

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2. TIME MANAGEMENT All enquiries must be responded to in a timely and professional manner. This does not mean that you must personally answer each enquiry within seconds of receiving it, but you must have systems or automated responses that will give a prospective buyer an accurate indication of when they will have a response from you. This may mean that you set up an email address dedicated to enquires with an auto response that you modify as needed.

And there must be reasonable availability to show the property. If the property is currently tenanted you should make an agreed calendar of dates and times for inspections with the tenant. This will help ensure that the property is shown at its best.

Manage your time effectively when showing prospective buyers through your property. You do not have to drop everything that you are doing each time a prospect shows interest in your property. It is often easier and more efficient to do two or three inspections on the one day that best suits you and at a time that shows the property off at its best.

3. CONFIDENCE You need to remember that you know this property better than anyone else and you can sell it for the price that it is worth.

Make sure that you know as much as you can about the property as knowledge gives you confidence. ie When the property was built, what the roofing material is, what colour the are walls painted, is the carpet 100% wool etc.

You must also make sure that you are familiar with all the services, facilities and utilities that are in the area even if they are not relevant to you. ie You don’t have the gas connected but having access to natural gas maybe an important item to a prospective buyer, what is the best local café, are there local walking trails, is there a local community centre etc.

If you don’t have the answer for a question don’t panic or look worried. Smile confidently and let the prospective buyer know that you will get the information for them.

Remember YOU are the best agent for YOUR property. .

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MOTIVATION Establish why you are selling.

THIS INFORMATION SHOULD NOT BE SHARED WITH ANYONE, ESPECIALLY NOT PROSPECTIVE BUYERS. This information is to establish how and who you are going to market the property to.

Are you; Downsizing, upsizing, relocating for work/family, financial reasons, lifestyle, security, suitability, local development, area is too busy or too quiet, health problems, accessibility to transport/entertainment/health facilities. Or are there other factors influencing you to sell.

Identify what key factors influenced you to purchase the property. As it is quite likely that these will the driving force for prospective purchasers.

- Location - Price - Size - Access into and out of the property - Off street parking - Garage - Close to public transport - Close to work or university - Close to facilities such schools, child care or medical facilities - Security - To be close to family - Maybe you inherited it so you need to think why the person leaving it to you purchased it Establish what time frame limitations you have, if any?

- There may be no immediate hurry to sell - You are moving overseas in 3 months and want to sell before you go - You have seen another or bought another property so you need to establish what constraints this places on you Your motivations should be written down to be reviewed when setting the price and establishing your marketing strategies. It is critical that you maintain this vision/story and motivations right through to the end of the sale process.

When you know your position and you have communicated your story honestly you are able to negotiate with complete confidence. The buyer will recognise the truth and you will both find the process a lot less stressful. .

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FREEDOM IS BEING ABLE TO MAKE CHOICES. YOUR REWARD WILL BE GREATER THAN THE MONEY YOU SAVE. THE SENSE OF ACHIEVEMENT WILL FILL YOU WITH PRIDE.

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PRICING

PRICING MYTH: Your first offer is always your best offer FACT: A genuine buyer expects to negotiate starting with a lower offer.

When setting the price for your house you need to make sure that it is realistic.

If you set your price too high, you risk alienating potential buyers and having your property sit on the market too long which may cause people to lose interest and question the integrity of the property. On the contrary, pricing your property too low may lead to you missing out on prospective buyers and ending up with less money in your pocket then you deserve.

Keeping in mind that while prospective purchasers are looking to buy for the lowest possible price they tend to look above, their set budget with the hope that they can get the property for less than it is priced at. In Australia, there is a general expectancy that properties are priced at the highest desired price and that the expected sale price is somewhat lower. Note that under-pricing or price baiting is not allowed in NSW. 08

To establish the expected sale price of your property the following needs to be done with properties in your area that are as similar as possible to your property. If your property is unique to your area look at similar areas for houses like yours. Don’t forget to consider land size and accessibility. And keep in mind what research you did when you purchased so that you knew what you were happy to pay.

Go to realestate.com.au and get the suburb profile and market data for your area.

Go to APM PriceFinder and put your address in to get your home price guide.

Attend as many open houses for comparable properties in your area as you can.

Attend any auctions for comparable properties in your area and note the number of registered bidders and whether any bids were made.

Use the internet to research all the past sales for comparable properties in your area for the last three months.

Use the internet to research all current listings for comparable properties in your area.

Once you have completed your research set yourself an absolute minimum price and your “wouldn’t that be fantastic” price. Your listing price, should you choose to advertise one, will be somewhere in between. You are the owner, and you know your property better than anyone so be confident in your knowledge and decision.

Be wary of the agent that gives you a price that is way higher than anything that you are expecting. Remember the agents first focus is to get the listing.

In the world of real estate agents, listings equal success, so they will tell you anything to get you to list your property with them. Once the agent has the listing the focus changes to selling the property as fast as possible and the tactics and communication change according. So it is quite likely that the selling price first mentioned will not be the listing price, or the price you sell for. It is your property, so make sure that you are confident in the value of your property and the price that has been set. If you are going to use a real estate do not sign anything until you are completely confident in the price that has been set.

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LEGALITIES

LEGALITIES MYTH: That only a real estate agent can sell your property FACT: In Australia you are legally allowed to sell your own property In NSW, the law that covers the sale of properties is the Property, Stock and Business Agents Act 2002. NSW Fair Trading is the government entity that administers this law. The role of NSW Fair Trading is to safeguard the rights of all consumers and advise business and traders on fair and ethical practice. Fair Trading provide services directly to individuals and businesses to create a fair, safe and equitable marketplace.

When selling your own property in NSW you are bound by the Property, Stock and Business Agents Act 2002 but you are not required to use an agent.

THE SALE PROCESS 1. CONTRACT OF SALE A residential property cannot be advertised for sale until a Contract of Sale has been prepared. Engage a conveyancer of solicitor to prepare a contract for your property.

The contract must contain a copy of the title documents, drainage diagram and a current Zoning Certificate (s 149) issued by the local council. If the property for sale has a swimming or spa pool, one of the following must also be attached to the contract from 29 April 2016:

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• a copy of a valid certificate of compliance, or • a valid occupation certificate (issued in the past 3 years) and evidence that the pool has been registered, or • a valid certificate of non-compliance.

This requirement does not apply: • to a lot in strata or community schemes that have more than two lots, or • for any off-the-plan contract.

If you fail to attach one of these documents to the sales contract, the purchaser may be entitled to rescind the sales contract within 14 days of exchange, unless settlement has already occurred. To check if the property with a swimming/spa pool has a valid certificate of compliance, visit the NSW Swimming Pool Register website.

Please visit the Swimming pools page on the Fair Trading website for further information or contact your local council or an accredited certifier.

Property exclusions must also be included and a statement of the buyer’s cooling-off rights must be attached. The draft contract must be available for inspection by prospective purchasers. IT IS IMPORTANT THAT YOU CONSULT YOUR SOLICITOR OR CONVEYANCER ABOUT PREPARING THE CONTRACT TO MAKE SURE THAT EVERYTHING IS IN ORDER. Land and Property Information NSW is the main authority for NSW conveyancing laws.

More information is available on the NSW Land and Property Information website.

2. CONTRACT EXCHANGE Exchanging sale contracts is the legal part of selling a home and happens regardless of whether you sell your property by private treaty or auction.

There will be two copies of the sale contract: one for you and one for the buyer. You each sign one copy before they are swapped or ‘exchanged’. This can be done by hand or post and is usually arranged by your solicitor or conveyancer. At the time of the exchange, the buyer will be required to pay a deposit, usually 10% of the purchase price.

The contract exchange is a critical point in the sale process: • The buyer or seller is not legally bound until signed copies of the contract are exchanged.

• Buyers of residential property usually have a cooling off period of five working days following the exchange of contracts during which they can withdraw from the sale.

• The cooling off period can be waived, reduced or extended by negotiation.

• There is no cooling off period for sellers. Once contracts have been exchanged, sellers are generally bound to complete the agreement.

• There is no cooling off period when purchasing at auction.

Note: Prior to placing your property on the market check with your solicitor or conveyancer if they have a trust account for the handling of deposits. Trust accounts are required so that all funds are protected until settlement occurs.

3. SETTLEMENT Settlement is the conclusion of the sale transaction and usually takes place about six weeks after contracts are exchanged. This is when the purchaser becomes the legal owner of the property and all outstanding monies are paid to relevant parties.

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PRESENTATION

PRESENTATION MYTH: You have to use a professional stylist & hire furniture to get the best price for your property.

FACT: Buyers like to imagine living in your house they aren't interested in fake styling. They want to live their good life not your life.

There are some basic rules to follow when presenting your property for sale. And several options for you to choose from rather than spending dead money renting furniture and paying for storage. If you are in a hurry though professional hiring and styling services can make things happen quickly.

At a minimum, the three things that must be done for every property is decluttering, cleaning and tidying. This should even be applied to a house being sold as a knock down.

1. Planner. Purchase a small but sturdy note book that will become your bible that will be taken everywhere along your styling/presentation journey. Make sure that there are plenty of pages for writing notes, gluing/stapling samples & inspirational images, keeping lists of contacts and drawing diagrams etc..

2. The Buyers Perspective. Remember you are styling/staging your property to appeal to a defined target market. This is not a decorating or renovating project in your taste or style.

Think of it as window dressing the property to have wide appeal to as many buyers as possible. Think about how you want the buyer to feel when they first see your property.

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3. Big Picture First. Choose a style and colour palette with broad appeal to the market you are targeting. i.e. a neutral Hamptons style has broad appeal in beach side suburbs for most target markets as does a simple industrial style for small apartments. If you are not sure of what style suits what market do some research on line and invest in a few home magazines which will be brimming with inspiration & advice. Choose ONE style for the entire property including the outside. Do not be tempted to mix and match. Keep it simple.

4. Plan & Declutter. Grab your phone or a camera. Start from the front curb of your property as first impressions are very important, through the front entry, into every room and right to the very back of the property taking a photo of what the potential buyers are going to see as they walk through your property.Load the photos up on your computer and start taking notes of what needs to be removed in each area. The camera doesn’t lie and it doesn’t miss anything. Remember in styling and presentation for sale, less is best! Pack up, get rid of, or store all the unnecessary items off site. Pare everything right back to the minimum. This includes items in overstuffed wardrobes, bathroom vanities, pantries and linen closets. You want the house to look organised and easy to live in. So, get rid of anything that you don’t need to use in the immediate future.

5. Budget. Keeping in mind the price you want to achieve, and that investing in paint, some simple landscaping/garden elements and updating a few larger items can potentially add thousands to the final sale price you achieve, set an affordable and realistic budget. Once you have set your overall budget break it down into priority items and rooms. ie What is going to have the biggest impact on the potential buyers of the property. Don’t forget to budget for any trades you may need such as painters, landscapers and handymen. Make sure you book them well in advance as good trades are very busy and your property may be delayed in being listed if you are waiting for trades.

6. Cleaning. Now that everything that is not needed is removed. Grab your phone or camera again and take the same photos again this time noting what needs to be cleaned, repainted, repaired or recovered. Add these notes to your plan and get cleaning and tidying up.

Remember first impressions count so make sure to pay particular attention to your curb side appeal. Which may mean having the outside of your house pressure cleaned. Attention should also be given to windows. Use advanced plants if you need to give the garden an overhaul. Consider a few well-placed pot plants and a new door mat at the front door to give a welcoming look. If your floor coverings look a little worse for wear and cleaning doesn’t bring them up to standard, rugs can hide a myriad of sins.

7. The Fun Bits. Now that you have a clean clutter free property with your planner by your side you can start shopping and researching all the items you need. Make sure you stick to the one theme and your budget. When in doubt get a second opinion from a trusted friend or colleague. If you are repainting and or landscaping, get started with these items first. You can purchase, repair or recover other items as the painting and or gardening/landscaping is being done.

8. Putting it All Together. It can be stressful trying to get each room to look just right.

Sometimes you get so involved in the process you can find yourself agonising over the exact placement of the smallest items which in the big scheme of the project don’t matter.

Put everything in place using your planner and the pictures that inspired you to help.

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MARKETING

MARKETING MYTH: Advertising on the internet or in the newspaper is marketing.

FACT: Marketing is the science that sits behind the reason you choose the type of advertising you put in place.

Have you ever experienced a real estate agents pitch when they are trying to get you to list with them? Did they have lots of glossy brochures covered in their branding with pictures of beautiful houses that they had sold? Was the agents picture all over the brochures? Did they tell you that there a wonderful range of marketing campaigns that were available to you should you wish to sign up with them? Was there a slick spiel all about how your property would be splashed all over the place attracting the attention of buyers that accompanied the presentation of these brochures?

Well this is not a marketing campaign. Any marketing person worth their salt will tell you that this is just an advertising schedule that includes a picture and some information about your property. The main aim of getting you to sign up for these so-called marketing campaigns is to get you to pay for the real estate agents advertising. It is called “vendor paid advertising� (VPA) be very wary of it. Agents want to be front and foremost in the minds of potential sellers and if they can get you to pay for it all the better. The purpose of VPA is for you to foot the bill to promote the agent. Have you noticed how the agents' picture, their name and the agency is plastered everywhere and that they have all the properties for their agency on one page. This is for maximum impact for the agent and the agency.

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The truth, is, that marketing is the science that sits behind the type of advertising your put in place. It also refers to the strategies you want use to attract the most likely prospects to purchase your property and the type of media you should use. Professional marketing agencies are highly qualified and highly paid. Advertising is the actual content that you place in the media to attract buyers to your property after you have devised a marketing strategy/campaign. Sticking a photo of your property in the newspaper under the banner of a real estate agent is not a marketing campaign so don’t be fooled.

TARGET MARKETS The first step in marketing is to identify and write down your target market/s. Is this a family home, empty nesters, first time buyers, investment property for renting, fixer upper, single person, extended families?

LIST YOUR UNIQUE SELLING POINTS Next list your unique selling points, including the negative and the positive. As often what may be a negative for you can be a positive for someone else. i.e. You are on a busy main road and there is a bus stop out the front. You find this to be a nuisance as buses are in your way when you are coming in and out of your driveway. Another owner may see this as a huge advantage as they may have dependents that regularly use buses.

DECIDE PRIVATE TREATY OR AUCTION Private Treaty is the most popular form of selling. It is when a price is set for the property. The property is listed for sale at that price. In general, the price is negotiable with the seller often asking a higher amount than they expect to sell the property for, and the buyer making an initial offer much lower than the asking price.

In Sydney and Melbourne auctions are popular as properties in these cities are in high demand. A sale by auction is a public sale where various intending buyers offer bids for the property and try to outbid each other. Ultimately, the property is sold to the highest bidder. However, if the highest bid does not meet the reserve price set the property is passed in. Agents often suggest going to auction as again, it promotes their brand and it keeps a sales campaign to a set timeframe for them. Remember the focus of an agent is getting as many listings as possible and to sell these as fast as possible.

OPEN HOUSE OR BY APPOINTMENT Open houses are promoted as the best way to present your property by agents as it promotes the agencies brand in your area, gives you the seller the impression that there is lots of interest in the property and enables the agent to place a junior marketing associate in charge of the inspection while the agent is busy attending to other matters.

For you it presents some security issues and means it is open slather for people to go through your house without having anyone point out the unique selling points of the property. Rarely does a buyer make an offer at an open home. Interested buyers will usually request an appointment so they can ask questions and inspect the property without having to worry about anyone else.

By appointment is not the preferred method for agents as it means having to coordinate times that suit you the seller and the prospective buyer. By appointment gives you the seller the control to make sure that your property is viewed at the time of day that it presents best. It also allows you to have the time to get the house ready for the inspection.

09 Lastly decide whether you will be advertising the sale price or not.

ADVERTISING

ADVERTISING MYTH: You have to advertising everywhere to get the best buyer FACT: Your agent will encourage you to advertise everywhere to help attract new listings for themselves at your cost.

Over the last ten years advertising in real estate has changed dramatically. With the advent of the digital age and websites such as realestate.com never has the agency store front window been more irrelevant. The days of prospective buyers having to trawl through newspapers and past real estate windows to find their dream property are long gone. And while seeing your property displayed in the newspapers, on flyers and on for sale signs can give your ego a bit of a boost it is no longer essential to have all these as part of an advertising campaign.

Today’s savvy purchasers have alerts setup to notify them when a property in an area they are interested in, within their price range, comes onto the market. These prospective purchasers have already spent countless hours on the internet researching a full range of information on the area. They know what the most desirable streets in the area are, the average time a house sits on the market, the most recent sale results, the past sales history of the area, where the local cafes, doctors, bus stops, schools, shopping centres are and how each of these services or businesses are rated. They are also up to date with planning laws about what they can and cannot do with a property.

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To make sure that you attract the best buyer, the one that makes the emotional connection with your property you need to make the following decisions regarding where you are going to advertise based on your motivation, your target market, your pricing, your budget and your marketing plan.

Which segment does your target market sit in?

Dormant - This segment is not actively looking to buy real estate but has a strong interest in real estate. They tend to notice for sale signs in their local area, read the real estate section in their local paper and take note of flyers placed in their letterbox.

Active Local - This group is actively looking at what is going on in their local area they may or may not be ready to buy but they dream a lot about making some changes to where they are currently living. They will look in real estate windows, read the real estate section in the local paper, notice when properties they admire start a clean-up process and they will be the first to see any for sale signs. They will talk about real estate and keep their ear to the ground for any upcoming sales among friends and acquaintances.

Active Out of Area - This group is located outside of your area and is constantly searching the internet looking for their dream property in your area.

Investor/Active - This segment is well researched and well informed. They use every available resources to find the property that they feel will give them the best return on investment.

Once you have established which segment your target market belongs to then you can choose your advertising channels.

Are you going to • list on the internet and if so which sites will you be listing on and what package are you going to choose • have for sales signs out the front of your property, •advertise in the local paper; and or • use flyers Remember agents will encourage you to broaden your advertising campaign by telling you that you must cover all types of advertising to ensure that you don’t miss out on the best buyer. When you know in truth, real estate agents refer to this as vendor paid advertising (VPA) and they believe VPA is the absolute foundation of their success in the real estate world. And you also know, their secret is to get you to pay for their agency marketing and advertising costs by using your listings and your marketing to help them get more listings. While, a well prepared property campaign that is targeted to a defined market will be result in the right buyers without wasting money.

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LISTING

LISTING MYTH: You have to list everywhere to get the best buyer FACT: Your agent will encourage you to list everywhere to help promote their profile and attract new listings for the themselves at your cost.

The number and type of advertising channels that you use to list your property will be determined by the market segment that your target market sits in. Not by the amount of times you want to see your property advertised. Plastering your property all over the place instead of directly to your target market is called spray and pray and is an expensive and thoughtless way of advertising.

Now that you have established your • Target Market • Market Segment • Advertising Channels and • Type of Sale you need to consider what day of the week and what time, you are going to list your property on the internet or what day are you advertising in the newspaper or what day your flyers are being delivered. To gain maximum impact it is important that this is all carefully coordinated. ie There is no point putting for sale signs out the front of your property without having your property listed on the internet as prospective buyers will jump online to see what the price guide is and what the property details are. Not being able to find this information will be frustrating.

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It is also imperative when listing your property that the message you are sending to prospective buyers is in line from top to bottom. Meaning that everything from the photographs, furniture, the description, the price, the facts and details matches the story you are telling. Buyers are very quick to identify items that don’t match and this can cause concern for them and make them nervous about whether they inspect your property and whether they make an offer on your property.

If you haven't already done your copy (property description) now is the time to do it. Then compare this with your images. Do the images support the picture your copy has painted?

If not, redo the copy or take new photography. You need to highlight the best your property offers while being honest in the presentation. Make sure that the images are not stretched or distorted in anyway. There is no point making rooms look bigger than they are, as once the prospective buyers are on site they will be disappointed. You want to make sure the prospective buyers are attracted to your property but the trick is to be honest while under promising and over delivering.

Next make sure that you have selected the advertising channels that match your target markets segment.

Now go through your checklist • Contract in place • Price set – is the price to be advertised or not?

• House ready to be presented to market – have you got plans in place to make sure it is always presented at its best • Advertising channels selected – newspaper, flyers, internet, for sale signs, social media • Photography done – house is accurately depicted. See tips below • Listing sites and channels match your budget – are you locking in premium packages or standard. Which sites are you listing on and why?

• Day and time that your advertising will be displayed • Inspections – whether open house or by appointment • Now have someone else recheck everything and give you feedback.

• Re check again Once these decisions have been made hit the go button and get ready for the next phase.

Inspections and handling enquiries.

TIPS FOR PHOTOGRAPHY Whether using a professional photographer or not make sure that the photos are realistic not artistic. Inside shots should be taken at shoulder height with plenty of light. Outside shots should be taken at either early morning or late afternoon as the shadows and light present the house at its best at these times. Make sure that the front shot of the house is a realistic presentation from the road. Potential buyers should immediately recognise the property from the street view.

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INSPECTIONS

INSPECTIONS MYTH: Inspections are very difficult and nerve racking and should be done by an agent FACT: You know your property better than anyone and are better equipped than anyone to answer any queries a prospective buyer may ask.

One of the most important things when it comes to inspections is the response to the initial enquiry. All enquiries must be responded to in a timely and professional manner. This does not mean that you must personally answer each enquiry within seconds of receiving it, but you must have systems or automated responses that will give a prospective buyer an accurate indication of when they will have a response from you.

It is exciting as each enquiry comes through. But how do you, make sure that only genuine prospective buyers look at your property? It is quite easy. You screen all the enquires with a range of simple questions that allows you to determine if the enquiry is genuine. This qualifying process can be applied to phone, SMS or email enquiries. The questions you ask should be conversational and posed in a friendly but professional manner. The questions should relate to the current status of the purchaser, their buying range, their specific needs in a property and their motivation to view your property. Unless you are an experienced sales person it helps to have your questions written down and kept with you so that you are prompted to ask them.

Make sure that if you are taking a call while you are out that the person can hear you clearly and that you have a paper and pen to take down any notes and details.

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An example of a qualifying question in response to an enquiry such as “Hi I am Joe Bloggs and am I calling about your property 123 ABC St Houseville that you have advertised” is “Hi Joe. Great to hear that you are interested in our property at Houseville. We have been receiving some great interest in the property. Can you tell me what attracted you to the property? The conversation and questions should flow on from here and not come across as a cross examination. Once the validity of the enquiry is established then move onto making a time for the inspection.

Manage your time effectively when showing prospective buyers through your property. You do not have to drop everything that you are doing each time a prospect shows interest in your property. It is often easier and more efficient to do two or three inspections on the one day that best suits you and at a time that shows your property off at its best. Genuine buyers are not here one day and gone the next. If they are truly interested in your property they will wait until it is available for inspection. You do not have to explain to prospective buyers why your property is not available immediately. A simple "unfortunately it is not possible to inspect the property until ...." will suffice.

On the day of inspections make sure that you are organised well in advance so that you are calm and relaxed when the prospects arrive. Make sure that any pets have been taken out for the duration of the inspection and that the house smells clean. No more than two people should be at home. All TVs etc.. should be turned off and all rooms should be vacated. Have any documents such as original house plans or approved future developments that have not been put into action on hand should they be requested.

Make sure that you know everything about your property. ie When the property was built, what the roofing material is, what colour the walls painted are, is the carpet 100% wool etc.You must also make sure that you are familiar with all the services, facilities and utilities that are in the area even if they are not relevant to you. ie You don’t have the gas connected but having access to natural gas maybe an important item to a prospective buyer, what is the best local café, are there local walking trails, is there a local community centre etc.

The art of selling a house is not about trying to convince a prospective buyer that your property is better than the house down the road. It is not about what your property has or does not have. It is about the experience of living in the house. You need to communicate to prospective buyers how living in your property will enhance their life style. Think about how excited you were when you purchased the property and what makes you happy to live in your property and build the story from there.

Be confident and warm to the buyers when they arrive. Treat them as you would like to be treated. While you should be on hand as they inspect your property you do not need to be breathing down their necks or insult them by stating the bleeding obvious such as pointing out "This is the kitchen". Let them explore your property at their leisure with you close by to answer any questions. If they have any questions you don’t have the answer for don’t panic or look worried. Smile confidently and let the prospective buyer know that you will get the information for them.You need to believe that you know this property better than anyone else and you can sell it for the price that it is worth.

If you are asked questions such as why you are selling. A simple response of " Our circumstances have changed" or we are downsizing" is fine. Never seem eager to sell or worried. And do not be scared to advise that you have other interested parties. Above all be honest in your dealings.

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NEGOTIATION

NEGOTIATION MYTH: You have to be a tough negotiator to secure the best deal FACT: You have to believe in the worth of your property to secure the best price Put simply, negotiation is the agreement between parties to a mutual outcome. Real estate agents see themselves as the facilitator of the negotiation process in selling properties. They believe that this is their primary role and that they are better equipped that anyone to fulfil this function. The problem is, they are always looking to complete a quick sale and will do anything to get the two parties to agree as quickly as possible. Forgetting that their role is to achieve the best possible outcome for the seller they will often encourage the listing price to be dropped.

The art to being a good negotiator is made up of two parts. The first part is knowing the worth of your property as opposed to what your property is worth. Meaning, that while you know the dollar value of your property what you need to consider, is whether your property is one of many on the market that are very similar or is it a unique property or a sought-after property of which there are only a few of on the market. The second part is to keep your goals and objects in mind while being confident, calm and composed. Be honest in your dealings and do not chase or harass the buyer.

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It is usual that a buyer will make a first offer that is lower than what you are looking for.

Buyers naturally want to get the property for the lowest possible price, while you want the highest possible price. Buyers expect that you will be in a hurry to secure a sale and make the offer in the hope that you will either accept it or make a counter offer that is lower than your listing price. To make sure that you don’t panic remember THE BUYER HAS MADE THE HARDEST DECISION IN THE PROCESS, THEY HAVE MADE THE COMMITMENT TO BUY, THEY ARE NOW EMOTIONALLY CONNECTED TO YOUR PROPERTY. You on the other hand have painted a picture/story/motivation from day one where you have established in the buyer’s mind that you know the worth of your property. You are negotiating from an honest position that the buyer will respect.

The best response to a low first offer is a short but polite response “Thank you but I/we could not consider selling for that price”. Do not offer a counter price. Let the buyer make all the offers and lead the negotiation. You need to maintain the same warm but polite attitude you had during property inspections. If the buyer asks you what your lowest price is advise “I/we believe we have placed a fair price on our property and expect to sell it for that.” Now the hardest part is waiting. Keep your composure and wait to hear from the buyer, they will be as nervous as you but by not chasing them they will see that you value your property and know its worth. This makes the property more desirable and enhances your prospects of achieving your top price. Humans by nature want what is scarce or not available to them.

In the study of economics this is called the “Scarcity Theory”.

Should you not receive a second offer from a buyer making a low offer accept that they were probably shopping out of their price range or seasoned buyers/investors that regularly do this in the hope they make pick up a bargain. Do not panic, continue to focus on selling and the right buyer will be there and when that magic price has been agreed to request that offer be put in writing. You can now see the finish line but do not celebrate just yet. The property is not sold until it is sold. If there are requests to inspect the property continue to do these.

Now that you have successfully negotiated the price the next step is to forward this offer through to your conveyancer or solicitor along with the details of the buyer so that contracts can be exchanged and a settlement date agreed to. Also, be prepared for the buyer to try to further negotiate on items within your property that may not be included in the contract. You are under no obligation to do anything other than what is stated on the contract but if it is small items that don’t matter in the big picture it is always nice to give a little. Keep your composure right to the end and be polite all the way through. Once contracts are exchanged you can celebrate but do be prepared for some calls and requests for final inspections prior to settlement.Be gracious and enjoy your achievement!

YOU are the best Agent for YOUR property

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