At Gibson Partners we understand that selling your home – particularly if it’s for the first time – can often be an emotional and somewhat overwhelming experience. That’s why we have developed our 10 east steps guide for you to follow. It’s our objective to make the experience of selling your home as smooth and stress free as possible.
1. OBTAIN A FREE MARKET APPRAISAL
Invite a Gibson Partners Salesperson to inspect your property so that they can provide you with information regarding advertising & marketing strategies, pricing, fees and services available.
2. SIGN AN AGENCY AGREEMENT
This is a legal document giving Gibson Partners your permission to sell your property. It is a statutory requirement from the Department of Fair Trading that a property cannot be shown without a signed Agency Agreement.
3. DECIDE ON YOUR PRICING STRATEGY
Whether you decide to sell by Private Treaty or Auction, the price should be based on the current market rather than your own needs.
Private Treaty –involves the seller setting a fixed price for the sale of their property. The property is advertised on the property market at that specific price and buyers interested in the property can either offer a lower price or the expected price for the property. The seller can bargain with the buyers offer if it does not meet the expected advertised selling price.
Auction – this is an intense, accelerated real estate marketing process that involves the public sale of any property through open cry, competitive bidding.
The main advantage of Auctions is that a firm price does not need to be set. This open-ended situation provides an opportunity of the price to exceed expectations and be set by the current real estate market. Auctions are likely to be more effective if the property is superior in quality to other properties in the area.
The benefit to Vendors is that you have control over the date and time in which the property is to be sold (i.e. Auction Day); you can set your reserve price and settlement date.
4. SEEK INDEPENDENT LEGAL ADVICE
Contact your Solicitor or Conveyancer and ask them to prepare a Contract For Sale. This will allow us to commence the advertising & marketing and allow us to show your property to prospective purchasers.
5. PREPARING YOUR HOME FOR SALE
Make the final finishing touches on your home and a general de-clutter to ensure your property presents at its absolute best.
6. ADVERTISING & MARKETING
This may include professional photography, signs, brochures, floor plans, videos, Leader & Internet advertising.
7. OPEN FOR INSPECTIONS
This a set time each week, usually a Saturday for approximately 30 minutes that aims to maximise viewings and reduce the street and inconvenience to you as the property owner. The agent will also leave you an inspection report which will provide you with a list of people who have inspected your property that day. Inspections can also be conducted “By Appointment” if referred.
8. NEGOTIATIONS
All offers on your property will be submitted to you in writing and you have the right to accept that offer or respond with a counter offer. This continues until an agreed price and settlement term are reached.
9. EXCHANGING CONTRACTS
This can be done in one of two ways:
5 day cooling-off period—which requires the purchaser to pay an initial 0.25% deposit and gives them 5 more days until they are required to pay the balance of a 10% deposit. These 5 days allow the purchaser time to conduct pest & building inspections and also time for them to get their finances approved with the banks. The purchaser is able to withdraw from the sale but will forgo their initial deposit.
Unconditionally—the purchaser is required to pay a full 10% deposit and there is no cooling off period. The property is considered SOLD and neither party can withdraw from the sale.
10. SETTLEMENT
The actual settlement date is arranged by the solicitor/conveyancer and in most cases, is between 28-42 days from the date of exchange. All monies must be finalized and—the full amount of the purchase price, less any deposit paid is required. A final inspection is conducted by the purchaser a day or so prior to settlement to ensure the property is in the same condition that it was when they purchased it. Once settlement is confirmed we can release keys to the new owners and the settlement amount will be accounted to you, according to your instructions.