How to take your home to market – Part Two
If you are considering taking your home to market, then you would know that there are many aspects that go into getting the best possible outcome. But don’t worry a great agent will not only be able to guide your through the process but also help to take some of those time consuming tasks off your hands.
Here’s part two, to help you understand and decode how to take your home to market.
Marketing your property
Marketing is crucial to get the best outcome when selling, whether that’s to sell in a shorter period or for the highest price, or both!
Your agent should make recommendations about what marketing will attract the right buyers and this will also depend on the method of sale you choose.
Key inclusions in your marketing package will be professional photos of the property, a video showcasing the home and the local area, and a floor plan.
Advertising on the key real estate portals is also very important to get the property in front of buyers in the marketplace. Your online presence is so important, and this is also why professional photos make such a difference. Domain.com.au and realestate.com.au are the main portals to advertise on in our area.
In addition, good real estate agents may recommend additional methods of marketing such as social media campaigns, signboards, print media, and brochures delivered to the local area or building you are selling in.
Property styling or ‘staging’ has also become a very popular method of marketing and can make a huge impact on your campaign. Staging allows you to create an aspirational living scenario and lets buyers envisage themselves living in the home. Presentation is imperative to attract buyers to open homes and help to develop an emotional connection with the property.
Property presentation
Whilst we are on the topic of the presentation, it’s not just furniture that can add impact. Getting your home ready for the market could also involve doing some work on the property. Prepare to invest in your property, a small investment could mean a significant difference in the success of your property’s campaign.
Painting, repairs, and cleaning are usually at the top of the list when it comes to our recommendations for preparing the home. Your agent will be able to advise you about what work needs to be done to get the best possible outcome. At Ayre Real Estate we arrange all work for our selling clients at no extra charge and have a team of quality tradespeople that we work with to ensure your home is looking amazing before it goes to market.
Solicitor/Conveyancer
NSW law dictates that you must have a ‘Contract for Sale’ prepared before buyers are shown your home, regardless of what method of sale you select. Believe it or not, selecting a great conveyancer or solicitor can make or break your sale.
A good solicitor will act quickly in your best interests with a balanced perspective on the overall outcome and process whilst considering your personal circumstances. Ask friends or family for recommendations or speak to your real estate agent. Agents work with solicitors on property matters every day and generally know who the best in the business is.
Once you appoint a solicitor you will need to have them prepare a contract for sale, it’s best to arrange this as soon as possible, around the time you appoint your agent as it can take several weeks to gather all the required documentation.
A contract for sale includes all the particulars about your property and the conditions and terms of its sale.
Key costs of selling your property
It will take some investment in your property to get a great outcome, here are some of the key expenses to keep in mind:
- Real Estate Agent’s fees – Agents work on commission, which is a percentage of the sale price paid to the agent on settlement of the property. If they don’t sell the property, then the fee isn’t payable. Industry-standard commission in Sydney is between 1.8 – 2.2%. This includes all aspects of selling the property from open homes to buyer management, to settlement arrangements, to arranging the preparation of the property. It does not include marketing.
- Conveyancing costs – these can vary depending on the complexity of the matter, but most conveyancers have a set fee for preparing the contract and arranging the negotiations around the matter. Conveyancers’ fees range from $750 – $3,000 in most cases.
- Marketing – Another key investment, this amount can vary significantly depending on the property and its value and the level of promotion it needs. A good marketing campaign with the key property portals included can start from around $5,000 and go upwards from there depending on the inclusions. If you opt for styling, you’ll be looking at around $2,500 as a minimum. Marketing fees are paid in advance to your real estate agency.
So, there you have it, a guide to getting your property on the market and what to expect. At Ayre Real Estate we love property and would love to talk to you about your home or investment. We pride ourselves on ensuring every aspect of the journey is enjoyable for you.
And of course, if you are thinking of selling we are always here to help guide you through the process, get in touch with our team today.
We are for apartments.
If you are considering buying or selling your apartment in Sydney city or its surrounds, we would love to help you. Ayre Real Estate are specialists in apartment living and ready to help find your ideal property. Talk with us today to find out more.
