Selling TipsYour Local Agent since 1959

At Ralph First Real Estate we understand that selling your home can often be an emotional and somewhat overwhelming experience. That is why we have developed our 10 easy steps 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 Ralph First Real Estate to inspect your property so that we 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 Ralph First Real Estate 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 at a specific price allowing interested buyers to submit offers. You the vendor can then counter offer if the price does not meet your expectations. This process continues back & forth until we meet at that magic number!!

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/Conveyancer and advise them to prepare a Contract For Sale. This will allow us to commence the marketing campaign and allow us to show the property to prospective purchasers.

5. PRESENTATION

Presentation of your property is a critical factor in achieving the highest possible price. This is similar to detailing a car before you sell it. The emotional appeal required to stir the spirit of the buyers is unlikely to be generated by a poorly presented property. a neglected building sends out 'warning signals' to prospective buyers.

So it is important to do whatever is possible to have your property looking its absolute best on inspection day. Some of the turn offs for buyers include:

  • Animal odours in the house
  • Evidence of damp or moisture in the walls
  • Cigarette or strong food odours
  • Overgrown lawns & weeds
  • Doors, windows or gates that stick
  • Darkened rooms (always provide as much light as possible)
  • Damaged walls i.e. cracks appearing
  • Too much furniture or personal belongings cluttering rooms
  • Stained carpet

To improve the presentation, seek an outside opinion, as many of these problems can be fixed over a weekend for little expense.

6. ADVERTISING & MARKETING

Our Agents will sit with you & plan an advertising strategy, this may include professional photography, signs, brochures, floor plans, local magazines & strong 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 capitalize on the competition created. The agent will also supply you with an activity summary which will outline the feedback received. Inspections can also be conducted “By Appointment” if preferred.

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 an additional 5 days until they are required to pay the balance of the 10% deposit. These 5 days allow the purchaser time to conduct pest & building inspections, Strata reports and time 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 42 days from the date of exchange. All monies must be finalised 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.