Information For Sellers
Selling a home will probably be one of the most important transactions in a person’s or a family’s life …second only to purchasing it in the first place!
The internet has made advertising a home more accessible, but there’s a lot more to selling your home than simply posting the details on the net.
Here's a quick check list of issues to consider; issues that really need expert support:
Choosing the right strategy
As conditions in the marketplace are ever changing it is important to select a strategy suited to the market at the time of selling. There are many factors that can influence pricing within the market such as interest rates, property clearance rates, local and global economic factors, currency rates and so on. It is therefore critical that when embarking on the sale campaign of a property that we tailor the process to suit both the Seller and market conditions. It is best to carefully consider the selling method for your property based on the options below.
Private Treaty is by far the most common method of sale in Western Australia. A property for sale by private treaty will usually be advertised quoting an “Asking Price”. The asking price is the starting point for negotiations and provides interested parties with an indication of the price region that the vendor is expecting to receive as the final selling price. A seller is not obliged to sell the property merely because offers have reached the asking price. If you are interested in buying a property that is for sale by Private Treaty you should place your offer directly with the selling agent who will in turn advise you as to whether there are currently higher offers on the property.
The Auction process is filled with excitement and anticipation. It creates increased competition and often outstanding prices for the seller. Generally entailing a high profile marketing campaign of four to five weeks, the auction process generates a sense of urgency and call to action to any interested party. A seller is expected to have their property widely available for buyers to inspect in the time leading up to auction to ensure maximum activity come auction day. The seller has the right to negotiate on an offer prior to auction day, can sell to the highest bidder over the reserve price on the day or negotiate a private sale should the property be passed in. Often when a property is passed in from the auction the agent will conduct private negotiations after the auction with the person who placed the highest unsuccessful bid in an effort to achieve an acceptable price to both the seller and the potential buyer. Therefore if you are interested in a property it is important to be the highest bidder.
The successful auction bidder is required to sign a binding contract immediately after the auction and to pay a deposit to the Sellers agent. The deposit is normally paid by bank draft or personal cheque.
Often when a property is passed in from the auction the agent will conduct private negotiations after the auction with the person who placed the highest unsuccessful bid in an effort to achieve an acceptable price to both the seller and the potential buyer.
Expressions of Interest
The decision to implement this method is based on the vendor wanting the opportunity to negotiate a private sale whilst having the ability to promote the property with the increased competition and urgency created by an auction. The 'expressions of interest' period can be fixed with a closing date, whereby all written offers will be presented to the vendor, or as often is the case an open ended time frame where the vendor can have the flexibility of negotiating on any offer presented at anytime.
Which method you choose will be based on your own preferences and the circumstances of the sale. But your decision should also be influenced by the expert advice you receive from your agent on the condition of the market and the suitability or otherwise of your property for either an auction or a private sale.
Marketing - The Four Ps
When selling a property, the most important of the Four P’s (Positioning, Promotion, Place and Price) is Price. It takes years of experience to judge how best to set the asking price of a home in order to maximise the selling price obtained. Regardless of the asking price, our commitment to you is to get the very best possible price that the market will bear.
Other marketing issues to be agreed will include what tools should be used in terms of print advertising, online advertising, signage, window displays and property supplements. Whatever the marketing mix chosen, it is critical that your property is marketed in a professional manner and your Sabre consultant will ensure that is the case.
Another "P" not normally mentioned in the business manuals is “Presentation”. Sabre Real Estate will assist you on how to present your home in the best possible light, including removal of some personal items, tidying up the garden or even sprucing up the property with a coat of paint. General de-cluttering presents the property as a blank canvas and can help potential buyers to see themselves living in the property.
Viewing and Negotiating
We will use our experience to ensure no stone is unturned in attracting prospective buyers to your property. Sabre Real Estate will manage the process of arranging suitable viewings, be they private viewings only or public viewings, and most importantly we will always be on site while the property is on view.
Once the property prompts interest from potential buyers negotiations can begin and offers will be invited. If more than one party shows an interest counter bidding may occur at this stage. Sabre Real Estate will keep you informed of all developments and continue to negotiate until we are confident that we have obtained he highest possible price for your property.
Once you have accepted an offer, the property is deemed “under offer” and Sabre Real estate will accept a deposit on your behalf and work closely with your buyers to ensure all conditions of the contract are met. WE will liaise with yours and and the buyers settlement agent /solicitor. It normally takes about six weeks for the legal process of title searches and finer details to be concluded and for the property to settle. Sabre Real Estate will stay with you for this entire process, advising and interceding where appropriate.