Selling tips from the expert Real Estate Agent in Australia

If you are looking to put up your property for sale in Melbourne in January 2022 or in the coming months you will be happy to know that home prices continue to be moving northwards, particularly in major cities like Melbourne and Sydney. But, the curve is mixed or downward in many other prominent locations across the nation. But, irrespective of the location when you plan to sell real estate for sale in Melbourne or other parts of Australia, the first thing you should know is that committing to the sale is only one of several steps essential to conclude the sale. There can be several unexpected surprises and it helps to have an expert real estate agent in Melbourne fully conversant with the nitty-gritty of real estate transactions in Australia. 

Therefore, we have collated useful selling tips from an expert real estate agent in Australia

 

Getting Prepared

Preparing your property for sale in Melbourne is the most important and first step to successfully closing the sale. Look for issues with your home maintenance, particularly those that can be a big drag for potential buyers. Spruce up your home to give it a pleasant look and get simple renovations like a coat of fresh paint and de-cluttering so that things look fresh when a potential buyer drops in for inspection.

Invest quality time in a bit of research check out recent sales in your local area and gain an idea of the price you are looking to realize and the current trend in real estate for sale in Melbourne.

 

Choose your Real Estate Agent

This is a crucial step since many aspects of property for sale in Melbourne will be impacted by the competence, expertise, and experience of the real estate agent you choose. Recommendation from family and friends is one way to identify an expert real estate agent in Australia. Another useful method is attending open homes and gaining some hands-on experience with real estate agents and the sales techniques employed by them. 

After you have a shortlist of real estate agents, you should interview many of them to identify the best for your needs. Do not hesitate to ask about upfront charges and fees and be willing to negotiate too. Further, you should also ensure that the chosen agent has a valid license and excellent knowledge of the locality before signing up with him/her. 

 

Set your Price and Pick a Method of Sale

Once you have decided to put your real estate for sale in Melbourne, you will also have to choose a method of sale. Auction and private treaty are the two major methods of sale. Your Real estate agent in Melbourne is the best person to advise you on the option that works best in your local area, considering the type of property and market conditions ruling at the time of sale.  

 

Private Treaty

When you choose to sell your property through a private treaty, your sales campaign can be long and you get the opportunity to consider offers from multiple buyers. However, this option also has an inherent risk that when the asking price is set high, you may not get any buyer, and conversely, when you set a low asking price, you may be missing the chance to extract the best price for your property. 

 

Auction

When you have several interested buyers for your property for sale in Melbourne, an auction sale may be sensible because you can gain from competition between the buyers. But, the element of risk is that all participants in the auction may not be equally interested and they may not even think of the actual value of your property till the day of the auction. 

There can be instances when the bidding does not reach or exceed the reserve price. When this happens, the property gets passed in meaning you have the option of not accepting any of the bids. But, it can give you the opportunity of negotiating the sale with a chosen bidder later, with the help of your real estate agent in Melbourne. 

 

Create a Formal Agreement with your Real Estate Agent 

Potentially you have discussed many aspects of your real estate for sale in Melbourne with your real estate agent several times. But most of these have been oral and maybe some text messages. But, as you approach the final stages of the transaction you need a formal agreement properly drafted and printed. This way, you can avoid any potential conflicts when the transaction is concluded. You should also know that this is also your opportunity to negotiate with your real estate agent, make any alterations, and also seek legal advice where necessary. Once the agreement is signed, generally, the printed and signed agreement becomes final. 

 

Discharging Mortgage

In instances where your property has an outstanding mortgage, you will need to have it closed by paying the remaining mortgage. By discharging the mortgage, your title to the property becomes unencumbered and free from any charges. This process will also help you avoid potential delays in the settlement of the sale transaction. The process of discharging any outstanding mortgage can consume several weeks. Therefore, it is essential that as you have signed the contract of sale, you start the process to discharge the mortgage. You may also want to speak to your lender even before putting up the property for sale to understand the process and costs involved. 

 

For any further assistance with real estate for sale in Melbourne, please get in touch. 

1300 090 992