Tips on selling your home in Queensland

When selling your home there are many things to consider… what agent should you choose? how much do agents charge? how much does advertising cost? when is the best time to sell? why do you have to open your home to the public? what should you do when you receive an offer?

 


How do you choose the right Agent?

Anyone can sell a house. it’s true.

An agent can suggest the highest price and the lowest fee, then cross their fingers and hope for the best.

At Bonds Estate Agents, we don’t believe that our job is to just sell your property. Like we said, that’s relatively simple. We see our role as exceeding your expectations with exceptional service.

Remember, selling a home is a collaborative process, so having a good, open working relationship with the agent is a must.


How much do Real Estate Agents charge to sell a property

The short answer is it varies.

An agent may charge a low percentage to gain a lsting or because they are short on listings.

On average in Queensland a real estate agent will charge 2.5% of the final sale price plus gst.


When’s the best time of year to sell a property?

We can find buyers for a good property at any time of the year!

However, market conditions can change overnight, so be aware that if the market is currently good in your area, it’s a good time to sell. If you delay selling whilst the market is travelling well and the market has a correction, it could cost you tens of thousands of dollars.

Our Estate Agents will assist you with all the information you need to make an informed decision.


How long does it take to sell a home?

On average, we find our properties take between two and six weeks to sell.

This does depend on the area you live in, and you should add another one to two weeks to this for us to prepare your house for your marketing campaign.

There is also the settlement period to consider, which is usually 30 days.

Therefore, from start to finish, under the right conditions, you would be looking between six to twelve weeks.


How do I prepare a property for sale?

A well-presented home usually sells faster, and at a higher price.

– Start by de-cluttering – put excess belongings and furniture into storage and you’ll make your home look bigger.

– Tidy up the garden and make sure the front of your home makes the right first impression.

– Keep the pets outdoors during the selling phase.

– Brighten up a home with flowers

– The familiar smell of freshly brewed coffee and baked bread always helps.


Should I do repairs around the property prior to going to the market?

Often we come across sellers who are constantly preparing their home for sale by trying to fix up every issue they feel is wrong with the home. As noble as this is, more times than not, a buyer will make their own changes to a property in the form of renovations, that may mean a wall being knocked down that the seller has been spending all year fixing.

If a room is dark, look for ways to create more light. Quality taps and door handles can make an immediate impact for little investment, and a fresh coat of paint in a neutral colour gives the impression your home has been well maintained.


How do I know the value of my house?

The pricing of your property is your main form of marketing as your property will be judged on its price:

Priced to high – you won’t receive enquiry and the market will pass you by

Priced to low – you risk not achieving market value

Priced realistically – you’ll receive enquiry, inspections, offers and potentially a higher than market value price

There are many factors that come into play when setting the price for a property, such as the current market conditions, comparable sales, what’s currently for sale and the style/ condition of a home, to name a few.

The main thing is to be aware of overpricing. Setting a realistic price can assist with generating greater buyer interest and achieving a sale more promptly than if a property is overpriced. Sellers who set too high a price on their property can damage their prospects of a quicker sale and risk the property becoming stale in the marketplace.

Our Estate Agents can advise you of all the information required to assess where your property sits in the current market.


What does marketing/ advertising a property cost?

We know that the buyer who will pay the most for your property, could either live around the corner to your home, or be on the other side of the world.

Depending on your budget, we’ll design the optimum online and physical marketing mix to attract the most attention and give your property the most exposure to ensure a higher than market value price for your property.

Exepct to pay between $500-$1500 depending on the package that you choose. The more you spend the more exposure your property will have and the great opprtunity for a higher than market value price.


What type of advertising is most effective?

At a minimum, you need professional photography, a signboard and internet advertising. These are the no-brainers of real estate marketing and the most effective!

By using the three above items as a base, depending on your property and the market there are other items you can add to boost the exposure of your property to gain more buyer enquiry. However, this is something that your agent will asses when they view your property and know your goals.


Why should I have open homes?

Buyers often will only visit open for inspections, rather than make an appointment for a private inspection. Inviting buyers to your home in a less formal way, such as an open for an inspection, is crucial in ensuring that a large part of the market is not ignored.

For a buyer to be interested in a property, they need to be emotionally attached to the property (unless the property is an investment property) and the only way for a buyer to be emotionally attached to a property, is by physically viewing a property. Therefore, without inspections, you won’t receive offers, without offers, you won’t sell!

Agents will often encourage sellers to not be present during inspections in order to allow prospective buyers the freedom of inspecting the property, without feeling like they are ‘intruding’ in someone else’s home. It is important to respect this process.


How do I know when to accept an offer?

An important thing to remember is that an offer should not be considered solely on the purchase price offered.

Some sellers may consider accepting a lower price if the offer is unconditional or has minimal conditions, rather than take the risk on a higher priced offer with more conditions that may not proceed to settlement.

Sellers should remember to be realistic when considering an offer or setting a reserve, keep the age old principal of supply and demand in mind, and also factor in other general market conditions.