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The first thing you need to do
when you decide to sell your house is to find the right agent.
Your agent will discuss with you the benefits of different
sales methods, the best way to advertise your property, and
perhaps some small changes or improvements to maximise your
selling price.
The following is a guide to steps
involved in selling a property.
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1. Choose a real
estate agent ...
A good real estate agent is well worth his fee and should be
able to sell your property more quickly, more efficiently and
at a better price than you would get by marketing it yourself.
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A good real estate agent is
able to sell your property more quickly, more efficiently and
at a better price.
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2. Decide on a method of sale ...
There are five methods of selling your property, the first
four involve going through a real estate agent:
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Sole or Exclusive Agency
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Multilist
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Auction or Tender
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Open Listing
-
Do-it-Yourself
(See
Details on Methods of Sale.)
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3. Agree on an appropriate
marketing/advertising programme ...
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4. Decide on a desired list
price ...
Listing too far above a realistic price is not advisable as
the investment property markets are extremely savvy and well
informed. Properties listed too high tend to draw guffaws
rather than offers and you will not be seen as a serious
seller.
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Decide on reasonable list price.
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5. Sign a letter of appointment
with the nominated agent ...
The letter or form of appointment should make
clear the level of fees, the period of agreement, the extent
to which the seller is liable for advertising, the right of
sellers to retain the option to sell a property themselves
without paying the agent commission, and other expenses.
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Officially appoint
the agent.
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6. Prepare your property for
sale ...
A well presented home says "welcome". It doesn’t
have to be a "show place" but it should appear a
comfortable home in which to live.
Your home will be one of many on the market at any time. You
need to present your home in such a way to get the best price
within a set time.
Presentation counts. Experience shows that vendors who make
this extra effort usually achieve a quicker sale and, in many
cases, a higher price.
(See
Preparing the Home for Sale.)
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A well presented home is important.
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7. Arrange for buyers to
inspect property ...
Be prepared at all reasonable times to allow your agent to
show people through your home.
If a prospective buyer asks questions about the home or
neighbourhood, answer directly and honestly. Questions about
the transaction should be referred to your agent.
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It is best to leave the house during open inspection times.
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8. Agree on the price offered
by the buyer or nominate the reserve price in the case of an
auction ...
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9. Sign the Sales and Purchase
Agreement ...
(See Sale & Purchase Agreement for
details.)
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10. Arrange with
solicitor/financial institution for transfer of property ...
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11. Pay commission to the agent
...
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