Need To Know
Ballarat Property Group is committed to providing a service of unrivalled quality whilst maximising the sale price of your property. On the way to achieving a great result there are a number of things you will need to consider.
When to Sell
Conventional wisdom has long suggested the warmer months are the prime time to sell. However while the market may be busiest during peak season, other times of the year can be just as successful. Auction clearance rates are greatly affected by the type of property and lack of available stock during quieter periods can improve your chances of getting a great result.
The state of the market and your personal circumstances are prime considerations. The features of your property can also be important. An open fireplace can be a prime attraction in winter, while a great garden may stand out in spring.
If you are considering selling and aren’t quite sure when to make the move, speak to one of our experienced agents who can help devise a plan of action appropriate for you and your property.
Public Auction or Private Treaty?
Before putting your home on the market you will need to consider which method of sale is most appropriate for your property and which is likely to achieve the best results.
Sale by public auction makes use of competitive forces to deliver a price above what might otherwise be achieved. When preceded by a well planned marketing campaign, auctions can create a sense of urgency amongst buyers, build competition and ultimately raise the price. Advantages of an auction are that you’re in control of the sales terms, you have the security of your confidential reserve price and the sale is legally binding once the hammer falls. You also have the option of selling your property prior to auction should an appropriate offer be received.
Private treaty sales can be highly effective when used in the right situation and handled correctly. This method involves quoting a price at the commencement of marketing, normally with a certain allowance for negotiation. Establishing the correct price is critical as a price set too high will lead to a lack of interest and a protracted sale, while a price set too low will not maximise your return. Unlike an auction, a cooling off period applies to private treaty sales. Private treaty sales are often used in situations where it is easy to ascertain the market value of the property and there is limited opportunity to achieve a greater price at auction, for example, an apartment in a block where there are many similar properties for sale.
Contract of Sale
In Victoria you must make the contract (Section 32) available before the property can be offered for sale to optimize your sale. A sale contract is prepared by a solicitor and may require a recent survey (indicating land size, buildings and any access rights). If the property is currently leased, advise your solicitor of the expiry dates and conditions. You must also note inclusions – standard items are light fittings, floor coverings and window dressings.
Additionally useful attachments could include “all clear” pest and building reports and building certificates from council approving any building works you have undertaken. Owner builders note also that you will require Warranty Insurance if selling within 7 years of completion.
With thousands of properties vying for the attention of potential buyers, marketing can make the difference. It’s important to have a well-planned campaign that gives you maximum impact for your advertising dollar.
To draw attention, a multi-faceted marketing campaign should be employed including media, internet and point of sale advertising. To ensure this attention translates into enquiries, it’s important all advertising is produced professionally.
Media advertising provides the high level of exposure required to attract potential buyers. Ballarat Property Group produces professionally designed advertisements and has secured prime media placements to deliver the ultimate in exposure.
The internet has now become a primary method used to search for property. Our popular web site, ballaratpropertygroup.com.au has been well designed to allow users easy access to all property information including photos, floor plans and virtual tours. For added exposure we also list all properties on major real estate portals, www.realestate.com.au, www.domain.com.au and www.realestateview.com.au
Prior to the inspection time open the windows to air the home. Make the beds, tidy all areas and make sure the house is heated or cooled to a comfortable temperature. Fragrant fresh cut flowers are always popular and feel free to put some background music on the stereo. During the inspection time it is best to make yourself and any pets scarce. This allows potential buyers the freedom to explore in detail and ask potentially challenging questions to the agent. Following each inspection our agents will provide a detailed run-down to keep you informed of the reactions and levels of interest among potential buyers to your property.