
Before you start the process of selling your home ......you should sit down and recognise that you’re embarking on a significant journey that, at times, may be tiring, confusing, frustrating, and even heart-breaking! (That long-awaited offer has just fallen through!). In fact, buying and selling a home is commonly classed as one of the more stressful experiences in life.
The infomation we provide can help you understand the mechanics of the process, but it’s your responsibility to make sure that you’re mentally prepared for the journey. Here are a few of the things that you can do to help yourself: -
Be realistic about the outcome.
Whilst we all dream of an offer that exceeds our expectations, you shouldn’t plan on that being the outcome. A $50,000 bonanza is a rare occurrence and is almost impossible to achieve unless you’re in a super-hot market. Do the research and work with your agent to figure out what is actually achievable, and then start to plan on that basis. Holding out for the dream offer or the "right buyer" will, in most cases, result in you selling your home for less than you could otherwise have achieved.
Understand the market.
Do your own research of the market. Look at recently sold properties that are similar to your own (in terms of location, size, quality, etc.). Visit some of the competitor properties, for example pop along to a selection of Open homes and compare them to yours - Build up your expertise of local pricing THROUGH THE EYES OF A BUYER. This will give you an insight into how buyers will assess your property, and will help you understand their behaviour.
Remember that YOU are the decision-maker.
When it comes to selling your home, always remember that you are the decision-maker. You recruit the team, you agree the price that your home will be marketed for, you agree the terms of the contract, and you decide whether or not an offer is acceptable. Along the way you’ll engage specialists, but, at the end of the day – you’re the boss!
Recognise that it takes time to sell.
Talk to your agent about how long the sales process is likely to take. The state of the market will play a role in this, but also your strategy will affect time on market (i.e. an aggressive realistic sales price will help sell your property quicker than to ambitious a price for the market) – Your agent will help adjust your expectations based on your local market and your preferred approach.
Don't panic. Your home has been on the market for a few weeks and you’ve not yet received an offer. It’s important that you don’t panic - Let the marketing run it’s course. In this guide we’ll talk about checkpoints – these are times that are built in, specifically for review. Use the checkpoints (at the allotted times) to critically assess the progress and re-evaluate your approach. Having a plan will help you understand which tactics will be used, and when they’ll be used. This will help reduce stress and panic.
Don't over-commit.
Don't go out and commit $s that are not yet banked. Even when you have received multiple offers. Until the $s are in your hands (or your agents) they’re not yours!
Remember that your agent is your advocate.
It's absolutely vital that you get an agent that’s right for you - One of your first tasks will be to recruit an agent that you can trust. You need to build an open and frank relationship with your agent – At In Conjunction Real Estate our motto is “Working Together”, and this is exactly what you need to do with your agent (in fact with all members of your team). You also need to believe in your agent, and recognise that they’re the expert when it comes to selling homes. Listen to their advice. More often than not they’ll be right!
Read Be familiar with the process and anticipate problems.
Read and re-read this guide. Check where you are in the process and make a list of the things that may go wrong in that phase. Be prepared to deal with these hiccups. Problems get resolved a lot faster when you’re prepared for them.
Make time for relaxation and fun.
Throughout all of this - don’t let house-selling consume you. Make sure to have time away from it – take a break, play your favourite sport or hobby, whatever it is you do for fun, keep doing it! Let life go on normally.