Sell My Home Myself?
A small number of people elect to sell their property themselves to save agents fees – but beware!
The process involved in selling a property can be frustrating, difficult, often disappointing and most stressful. It can also be a legal minefield so before embarking on a DIY attempt, it is strongly recommended that you first seek the guidance and services of a property conveyancer or commercial solicitor.
Better still, make contact with us and we will put you in contact with your local SRES(R) certified agent to discuss the best options. You may decide if working beside him/her can help you achieve your best financial outcome.
There is nothing worse than having your property just sitting there unsold while the marketing costs rise and the offers being received get lower. While selling a house privately can seem straightforward, it can also be a very time-consuming and frustrating process.
For example, the time spent on inspections can be long and sporadic. It’s also important you don’t get too emotional during the whole process and lose your objectivity; purchasers can often be very demanding and frustrating.
But for those with an eye for detail, patience and the time to do the job themselves it can be done.
There are several organizations to help you sell your home yourself and they can be found via a Google search.
Related Coverage
- Vendor left out of pocket Adelaide Now, 7 Sep 2012
- Buyers put off by bad smells Courier Mail, 5 Jun 2012
- Sellers’ tips: Look good on the internet The Daily Telegraph, 20 May 2012
- Inspections can save thousands Courier Mail, 10 Apr 2012
DIY Conveyancing
Before offering the property for sale, a contract must be prepared by a solicitor or qualified licensed conveyancer unless you complete your own. A decision to DIY depends on your confidence, willingness to inform yourself and the time you are prepared to devote to the task. Property conveyancing is an exacting and precise undertaking and mistakes can lead to legal actions being taken before the Courts for damages and corrections.
Publications are available to guide home sellers through the process. Doing this yourself can end up saving conveyancing fees, but don’t forget to measure your time, energy and most importantly the legal risk.
There are also consumer law associations which can offer assistance to private home sellers.
It is the view of Seniors Real Estate Services – SRES that you need a property expert when selling your home and a property conveyancer to legally complete the documents for you
The Right Asking Price
The price can’t be too high to discourage potential buyers, nor do you want to sell it for too little. The aim is obviously to maximize the sale price.
The asking price should be a starting point for negotiations, so it is advisable to leave some room for that.
It is generally unwise to accept the first offer but if you get the price you want, then accept it; especially in a ‘tight’ property market.
Vendors should do their homework and base the asking price on comparable sales (of properties with a similar size, quality and location) obtained from local councils, the property sections of the newspaper and online.
There are several online property research sites which, for a small fee, will list all past sales in your area as well as what’s on the market now, for how long and the asking price. See www.realestate.com.au or www.domain.com.au
Selling Tips
Seniors Real Estate Services – SRES agents normally provide vendors with some guidelines on how to maximize the presentation of a property. Their tips generally focus the aesthetics: for example;
- Fresh flowers in the house.
- Tidy up outside and add some fresh pot plants.
- Clean the windows.
- Turn on garden lights during night inspections.
- Remove pets during inspection times.
- Have lots of natural light with blinds open to maximize the home’s space and light.
- Remove junk and clutter.
- Ambiance still counts for a lot, so the smell of freshly brewed coffee and soft background music contribute to a “homely” feeling.
Inspections – Hints
Inspections can make or break a private sale. Getting a potential buyer through the front door is an opportunity too good to miss. Be courteous and helpful with any queries but don’t be intrusive.
Stay in the background as much as possible and only get involved to answer questions or to point out attractive features.
Most visitors want to wander through the property at their own pace and see the areas of most interest to them. They don’t want to be badgered or feel as though they are imposing.
Ensure inspection hours are convenient and that you note the name, address, email and phone number of visitors so they can be followed up in needed. Be always mindful of security also and ensure sale contracts are available for examination. If you are using a conveyancer, they will prepare them for you to ensure their accuracy.
Advertising
People approach advertising in different ways. Listing the home on popular online real estate sites is a must, but also look at distributing flyers in the neighbors’ letter boxes, advertising in local papers and preparing a brochure with photographs and features of the house. Read the real estate sections of the newspaper and find the best property ads which attract your attention; then simply apply their techniques to your own home.
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