Factors to consider when planning to sell your home
One of the important things to consider before going to market is different selling methods.
Private treaty is the most common way to sell a home in WA.
This is where you advertise the property at an asking price and then negotiate with buyers through a real estate agent.
When an agreement on price and conditions is reached, the sale proceeds to settlement.
A variation to this method is an invitation for offers to be submitted by a set date. Similar to a sale by tender, this process is referred to as expressions of interest, set-date sale or end-date sale.
A marketing period of between four and six weeks is common with interested buyers invited to submit an offer for the vendor’s consideration.
Auctions are a great way to buy and sell property and are more transparent.
The auctioneer is unable to sell the property at the fall of the hammer unless a bid is at or beyond the reserve price — the cash figure the vendor will accept.
A sale at auction is normally unconditional.
After you’ve decided how you want to sell, the next step is how to promote.
A solid marketing plan is essential. In choosing an agent make sure you ask how they plan to market and promote your property, the costs of doing so and how their plan will have the best chance of selling your property for the highest price in the shortest time. Your chosen agent should provide a thorough and precisely costed marketing plan.
There are different ways to sell your home and having a marketing plan is important.