For many people the thought of selling their home without the use of an agent is daunting.
They have concerns that only agents can get buyers, that selling a home is somehow illegal or that they’ll be unable to command the right price.
Follow this three-minute guide and learn the tips and tricks used by thousands of others to sell their homes and avoid paying hefty commission fees.
Can you sell your own home?
Despite what they might like you to believe, traditional Agents DO NOT have exclusive access to buyers.
Buyers follow properties NOT agents which means you have as much chance of selling your home as they do.
And, because you’re legally entitled to sell your home, all you need do is prepare your home and retain a lawyer/conveyancer to handle the legal/contractual side of things.
Finding the right price for your home
DIY sellers also worry that they will under-price their home (in fact, 80% of sellers using an agent overprice their home which hinders the sale).
To find the right price for your home, ignore advice from those well-meaning folks who have watched The Block and think they’re a property expert and instead, look to online platforms and research recent and local (within a 3-5km radius) sales.
When it comes to pricing, avoid underquoting or employing clickbait techniques. Price your home using research and tell buyers what you are expecting to obtain.
Do you know your property inside and out?
Don’t leave any information you ‘think’ you know about your property to chance (I know of one seller who mistakenly advertised her land as being three acres larger than it was).
Know your block sizes, know if any easements exist, know the approximate size of dwellings/houses on the block, know the approximate age and be upfront about any improvements.
And lastly, it’s sometimes what you don’t say that can get a buyer offside. For example; you have extensive shelving in your garage that you plan to take with you, but you don’t tell the buyer until they are just about to move in.
Providing transparent, accurate and verifiable knowledge about your property will satisfy even the most suspicious buyer and avoid any nasty repercussions.
How much money will you save and what work will you need to do to sell your home?
Despite the commission charged by agents (on average 2.6% of the sale price) and additionally whatever advertising costs the agent recommends, a staggering 97% of sellers still hire an agent to market their property and help negotiate a sale.
If you use a service like Agent in a Box, selling your home can save 90% on traditional commission rates. It’s a no-brainer.
Really, the only consideration is whether you’re prepared to do the preparation to ensure your ‘home is in order’.
Ask yourself if you’re willing…
- to take the time to get your home looking its absolute best to IMPRESS buyers?
- to set up and manage your online listing and field enquiries via email and mobile?
- to price your home to compete IN the market?
- to ask potential buyers the questions that determine whether they are ‘tyre kickers’ or true prospects?
- to ask for, absorb and consider honest feedback from buyers who have inspected your home?
- to put in place a lawyer or conveyancer to handle the construction and execution of a contract?
- to talk with, engage and negotiate with potential buyers?
Agent in a Box’s top tips for a quick sale at the right price
If you’ve looked through the list above and are willing to do all the tasks you’re already well on your way. Use the tips below to ensure a smooth and successful sale:
- Present your home or property like the Queen is about to visit. Complete all your repairs and tidy: poor presentation will affect both price and potential sales. Pop a sign out the front to advertise and create a ‘buzz’.
- List your property on the internet by using big websites such as REA and Domain. Why? They receive around 15 million unique views per month.
- With 90%+ of property buyers searching for their next place online, high-quality photos generate interest in your property. Ask a pro to take 12-15 great shots in landscape format, showing off the best features…and don’t forget a floor plan.
- Use a benefit-centric headline and a captivating description. Write an intro with the benefits of owning the property, list the property’s main features, then finish with a location snapshot and a call to action.
When potential buyers visit, remember to listen (it’s twice as important than it is to talk).
- Don’t follow buyers around your home like an eager puppy. Let them know you’re available if they need you and then leave them alone.
- If a potential buyer asks you, ‘How much will you take for it?’ Never answer with a price. Instead, respond with, “Make me an offer and I’ll let you know.”
- If the nibbles are non-existent or few and far between, act within the first four weeks and make a noticeable, yet smart price adjustment.
Although only 3% of Australian Home Owners are currently taking the calculated plunge into private sales, the number of money-savvy sellers is expected to increase as online marketing, sales, knowledge and support services such as Agent in a Box grow in popularity and strength.