- Inside Presentation
- Outside Presentation
- Inspections/Open Homes
- Methods Of Sale
- Private Treaty
- Offers Over $......
- Pre Auction
- Expressions Of Interest / “No Price” Marketing
- What You Need To Do
We often get asked for Presentation Tips when vendors are preparing their homes For Sale – here are a few
- De-clutter the home, remove as many bits and pieces from tables and bench tops and move any excess items and furniture into the garage or storage space. This gives your home a more spacious feel and more appealing to the buyers that come through.
- Ensure the doors work well. By making sure the doors don’t jam and the handles turn and lock well makes for a much smoother experience for a buyer as they inspect your home. This also gives the buyers greater confidence in the maintenance of the home
- Vacuum carpets, sweep/mop hard floor areas
- Open all window coverings, natural light adds warmth and appeal. Use brighter light bulbs so that the property can be well lit for inspections and photos.
- Make sure all gates work well. Just like the doors this allows buyers to have a more positive inspection experience and gives greater confidence regarding the maintenance of the home.
- Clean out the gutters, clean away any cobwebs under eaves and around house, remove any debris from the front or backyard.
- Mow the lawns, weed the gardens and add extra flowers or bark chips to the landscaped areas.
- Try to be out of the home when there are inspections in order to protect your privacy. After all, you have hired us to do the negotiating on your behalf.
- Ensure the home is at a comfortable temperature. Show off that gas heating or air-conditioning the buyers are looking for.
- Light some scented candles to create a pleasant aroma and atmosphere that will make your property more memorable to the buyer. The way your house smells is the first thing potential buyers will notice.
- Playing music also creates a pleasant ambience in your property.
Whilst we understand pets are treasured members of your family where possible keep them away from prospective buyers– not everyone appreciates pets.
Methods Of Sale
Here at Elders we have successfully used the following methods of sale, please discuss with your Sales Representative the best method for your home.
In a private treaty sale, the property is advertised “for sale”, generally with a set asking price. Buyers must make “blind” offers- meaning they won’t know how much any other buyers may be offering. The fact that there is no set time frame for the sale can be seen as a benefit by sellers who don’t want the pressure of auction. In reality though, this can also be a negative factor as the lack of a set time frame generally results in a lack of any sense of urgency for buyers.
Offers Over $......
In this method, the property is advertised and marketed to the public using an “Offers Over” price range (e.g. Offers Over $450,000). This method is used to generate the best sale price above a set figure. It is an effective marketing method as it does not ‘cap’ or limit the final sale price, leaving it in the hands of the market and allowing the agent the potential to negotiate as high as possible, rather than negotiating down from a set asking price.
In an auction campaign, the property is marketed over a 4-6 week period to be sold on a set day. On auction day, the auctioneer will take bids from buyers. If the seller’s reserve price is met or exceeded, the property is officially “on the market” and will be sold to the highest bidder. The advantage of an auction campaign is that the property is not marketed with a set price. If the property is sold either under the hammer or later the same day, the contract will be unconditional upon exchange and there is no cooling off period. Auction campaigns are conducted to maximise price by “collecting” as many emotional buyers to have them compete to purchase on the auction day.
Expressions Of Interest / “No Price” Marketing
Expressions of interest is a method of sale whereby the property is offered for sale with no asking price. It can be particularly useful when marketing unusual properties that may be out of character for the area, therefore hard to value. The advantage of this method is that there is no set asking price and offers are invited from purchasers. Unfortunately this method can also discourage many buyers from enquiring about the property due to the fact that there is no price guide.
What You Need To Do
Once you have chosen your agent you will be required to sign an agency agreement which is a binding contract between you and your agent and details such things as the method of sale, price (if applicable), commission and marketing costs etc. Your agent will then provide you with a copy of the proposed advertising copy to be used to the marketing and promotion of your property – you will be required to authorise this advertising to confirm you are happy with the way your property is being presented to the market.
You will also need to appoint a solicitor/conveyancer to act on your behalf during the sale process – before any marketing of your home can commence your solicitor/conveyance must provide your agent with a contract For Sale.
We would also recommend at this stage that you advise your bank or mortgage broker of your plans to sell your home.