Selling you property yourself can have some issues. No enquiry, no interest, no inspections, no offers or low offers which all mean no sale. We will cover some of them here. However, why not at least try to sell it yourself first. If you are prepared and well informed, you should get a good outcome - a great result. This will not only save you thousands in commission, there will be savings on marketing costs.
What experience does ReDIY have to assist Private Sellers?
The CEO and Managing Director of ReDIY both have real estate backgrounds spanning over 30 years. This has been in Sales, Property Management, Owner/Licensee and Manager. They are very aware of the pitfalls, for not only Private Sellers but also many Real Estate Agents. ReDIY has been developed by them, to assist Private Sellers and Landlords so that they can sell/rent their properties themselves, but in a highly professional manner, with all of the tools that Real Estate Agencies have at their disposal.
Preparing the property for sale.
Firstly, the property needs to be prepared, ready for sale. That will mean gardening, minor maintenance issues and perhaps some painting. Stand across the road from your property and look at it. Does it give a good first impression? Take off the rose coloured glasses and be impartial. If you are selling your family home, you will have many good memories, which is normal but do not it cloud your judgement. Small, low-cost things can be done, such as mowing, edging, weeding, planting some welcoming plants, removal of garden waste, gurney the driveway and paths. As you then walk through the property, look for any minor repairs that you could attend to. Buyers have a habit of counting up all the little maintenance things, putting an inflated price on the cost to remedy. They are only trying to justify why they think the price is too high. The best thing for you to do is to eliminate these.
What State Legislation does a Private seller have to be aware of?
Each state has different Legislation and different conveyancing. There are many internet sites available with all the necessary information. Some things to research are Pool Fencing and compliance, Smoke Alarms, Electrical Safety Switches, Building and Pest Reports, Easements and Council approvals.
What should go in the text of advertisements on the major Real estate sites?
Next, you will need to write your advertising text and photograph the property. Visit the major Real Estate Sites and have a look at similar properties. This will assist you in writing the text. Have a heading that will catch attention and highlight the best feature of the home. Consider the reasons that the property appealed to you when you purchased it. These same reasons could very well appeal to the buyer. If the property is located in a desirable location, in a catchment for a popular school, close to transport etc, this should be covered in your text. Fixtures, fittings and inclusions such as heating, air conditioning, ceiling fans, dishwasher, entertaining areas should also be mentioned. If you have a good quality camera, you can take your own photos. There is also the option to have professional photos taken. Good quality photos will capture the attention which will encourage the buyer to have a closer look at your advertisement.
Can You Advertise your Private Sale on the Major Real Estate Sites?
The big question now is "How are you going to let buyers know that the property is for sale?" You will not find a buyer if they do not know it is for sale. It needs to be advertised to a broad market of buyers. The major Real Estate sites in Australia are Realestate.com.au and Domain.com.au. This is dependant on the state that the property is located. Realestate.com.au have a strict policy of not allowing Private Sellers directly on their Site. It was strictly for Real Estate Agents but they now permit Private Landlords. To advertise there, you need a third party. Domain.com.au does allow Private Sellers but at quite a high cost and in 30 day increments. This is where we come in. ReDIY holds a subscription so we have access to these sites. You can advertise your property on these, plus others, with ReDIY, for a small one-off cost. The advertisement remains until it is sold or you decide to withdraw it from the sale. Hundreds, if not thousands of buyers of real estate, visit these sites, daily. Very few genuine buyers of property will visit Gumtree. They will when they want to buy a second-hand desk or sofa, but not a home.
How can Signboards and Brochures assist Private Sellers?
Another item you may want to consider, is a signboard. A signboard lets everyone know the property is for sale. It is a 24-hour salesperson, working for you, for no hourly rate. We have an affiliate who can provide you with a signboard, at a low cost. Brochures of the property advertisement are well worth the cost, as well. Buyers take them home with them to refresh their memory of the features of the home. Remember, they may have inspected 6 on that day.
How do you receive your Buyer enquiries from ReDIY?
With ReDIY, all enquiries are forwarded on to you by email and into your dashboard on our site. Our innovative site also has a chat function to allow you to chat with us. Better still, if the buyer signs in to our site, you can chat directly with them.
How do you conduct Inspections as a Private Seller?
The next step is the inspections. You can set open home times or do private inspections with each buyer enquiry. This is entirely your choice. If you are going to do opens, we suggest not only set a Saturday morning but perhaps a weeknight, outside of business hours, or a Saturday or Sunday afternoon. Most Real Estate Agents do theirs on Saturday Mornings. Give buyers the option to inspect when they are not rushed for time.
Should you negotiate your own sale when you are a Private Seller?
I sold my own property myself. I was totally upfront with the Buyer that I was not only the Agent but also the owner. I found it a little uncomfortable. Even though I have sold hundreds of homes in the past as a Real Estate Agent, I had the emotional attachment to my own home. Luckily I sold it to that buyer, on the first day. If I were to be totally honest, I do not believe I negotiated the best price from the buyer, because it was my home. Whether you choose to conduct the inspections and negotiations yourself is entirely up to you. Something worth considering is to ask a relative or friend to take over the negotiations on your behalf. Negotiating with the Buyer to obtain the best possible price will be covered in a future blog.
ReDIY is here to help with your DIY Sale.
Take your time, prepare the property, do lots of research and advertise it on the major Real Estate Sites with ReDIY and you are on your way to a successful sale.