Selling Tips

Timing
Presentation
Method of Sale
Sale Preparation Checklist

Timing

Buyers for good quality property can be found all year round. With the marketing process having become far more sophisticated than in previous times, the issue of timing is less critical today than in the past. However, there are some important points you may wish to consider.

In major centres avoid the Christmas holiday period between mid December and mid January.

The time required to sell property that is accurately priced will typically vary between two and six weeks. Prior to placing your property on the market, allow an additional two weeks to prepare both the property and the marketing material.

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. And 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:

  • Evidence of damp or moisture in the walls
  • Cigarette or strong food odours
  • Doors, windows or gates that stick
  • Cracked glass
  • Too much furniture or personal belongings cluttering the space
  • Stained carpet


To improve the presentation, seek an outside opinion, as many of these problems can be fixed quickly and with little expense.

Method of Sale

When it comes to selling your property, there are two popular methods to choose from for residential properties: Private Treaty (Sale) and Public Auction.

Each has its own advantages and it is advisable to speak to your agent about the benefits of each method.

Our company has successfully utilised all both methods, however, we have found Sale by Private Treaty to be the most effective method for tenanted investment properties.

Sale Preparation Checklist

  1. Get the property detailed thoroughly
  2. A few hundred dollars spent sprucing up the property will increase the saleability and more than likely increase the sale price.
  3. A property stylist can improve the appeal of your property by enhancing its appearance. This helps in obtaining a higher sale price.
  4. Obtain a building and pest inspection report. - This allows you to have necessary repair work done prior to sale. A 100% clear report can be used as a selling feature for buyers.
  5. The Contract for Sale should be prepared by your solicitor or conveyancer with all the essential terms and conditions. In NSW the law requires that a contract be available for inspection prior to the property being offered for sale.
  6. A certificate of compliance should be obtained from the Local Council if you have recently undertaken major building works.
  7. It is advisable to have a survey of the land and buildings available if required when selling a property.
  8. If there is a current lease, check the expiry date and termination requirements and advise your solicitor.
  9. Make a note of all the inclusions. That is, everything that will be included in the purchase price and remaining at the property after completion. Standard items include light fittings, floor coverings, curtains and blinds. These can also be excluded if you prefer but it should be noted in the contract for sale.