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How keen are you to sell?
Selling a property can be a waste of time and money if you are not fully committed to selling. Remember you can damage the market image of your property if it is casually for sale for a long time.
A. I am very keen to sell in the next few months.
B. I would like to sell in the next 6 months or so.
Are you realistic about the price?
This is a hard one to answer as property values can be very hard to pin point. It really helps to objectively review recent and comparable sales and ask an agent for their view.
Some value assessment traps are
• Using online value calculation tools.
• Assessing the value based on what it cost you?
• Selecting only sales that justify a higher price
• Using “For Sale” asking prices as a benchmark.
• Using median price data
A. Comparable properties sell for prices close to my price expectations.
B. I would need a price higher than what similar property is selling for.
How much will you spend on marketing.
Selling a property can seem expensive but relative to what? Remember the value of what you’re selling. There are cheaper options and while the initial out lay is less, the net cost (sale price less costs) may in fact be more expensive. There are even almost free options like free web sites, Gumtree, just a sign board, or social media.
So how much are you prepared to spend to promote your property in its very best light to a wide marketplace.
A. I am willing to spend a reasonable amount to present my property really well.
B. I would prefer to use very low-cost marketing options.
How hot is your property?
Will lots of people want to buy your property or will it be hard to find the right buyer?
The selling strategy will be driven by how appealing your property is to the market. Not all property is created equally and this changes over time. Every property for sale needs to be presented and marketed well to find the right buyers and get the best price and sometimes difficult property need extra special treatment.
A. There will be a lot of people keen to buy my property.
B. Properties similar to mine sometimes take a few months to sell.
Are you a real estate “expert”?
If you have time on your hands and are no stranger to the world of real estate marketing, sales and negotiation then you may be able to sell without an agent.
It’s not for everyone, but some companies offer a “do it yourself” selling option with a fixed price or no commission. They vary in service and price but they help you sell your property yourself.
Even through their marketing budget provides a very low level of advertising on the main web sites, if your own hot property and you know your way around a property negotiation, you may save money.
A. I don’t have the time or inclination to sell my own property.
B. I know how to promote and negotiate property and I'm happy to spend the time.
Well Done, you are nearly there!
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