For most of us, selling property is always going to be a major milestone in our lives. Whether you’re upsizing, downsizing, reinvesting or relocating, these decisions are never made lightly. At Devine Property we understand the significance of the sale and begin the process by getting to know each and every client. We listen, we research, we assess your needs and we communicate openly. This supportive relationship allows us to achieve exceptional outcomes, in a timely manner and with minimum disruption.
From our years of experience, we know there are some common questions and even misunderstandings about the role of the real estate agent when it comes to selling property. To help us all get on the same page we have provided some simple answers to some of our most frequently asked questions.
However, it’s important to remember we do not operate a not a one-size-fits-all sales model. Every client’s circumstance is unique and every sales approach is tailored.
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For most of our clients, the first step is to make contact and seek advice from the agent as to the property’s likely value – we call this an appraisal. Our agent will organise a convenient time to conduct an inspection of the property to gather some basic facts and information.
The agent will then conduct detailed market research, assessing similar currently listed and recently sold properties. An appropriate selling range well then is determined and presented back to you in the form of a written report.
Yes definitely. You know your property better than anyone and some of that information can greatly assist our price assessment. This might include information on alterations to the property since purchase, covenants or easements on the title, or building plans.
The next step is really up to you. If the timing is right and you wish to sell, the agent will provide a recommendation of how to proceed to achieve your outcomes.
This will include a recommended sales strategy, advertising program, and fee proposal. The agent may also make some recommendations of aspects such as minor repairs or styling options to enhance the property’s appeal.
We are fully transparent in explaining costs for every individual sales strategy. Generally, these fall into two categories – costs for advertising expenses and costs for our agency services.
In Tasmania, property agents are required to obtain a vendor’s written permission, known as the “Listing Authority”, to act on their behalf in selling a property. This authority will clearly set out agent services and obligations, fees and charges recoverable as well as the agency period. Once you have agreed to proceed with the sale of the property, our agent will present you with the authority and discuss each condition in detail. Once signed, a full copy will be provided for your records.
There are a number of ways to present a property to the market. Again, every property and circumstance is different and our agents are more than happy to explain the merits of each. Common methods of sale in the Hobart market are; Auction, Set Price, Offers Over, Expressions of Interest or Tender. What is important is that you choose a method that allows you to maximise price and ease of sale – this is where our expertise comes in.
We have all heard the expression “you can’t sell a secret” and this applies to property sales as well. Devine Property maintains an extensive database of past and prospective buyers and vendors, however, we don’t know everyone, and no one can! Advertising allows your property to gain exposure from a wider audience increasing your prospects of attracting more buyers, greater competition, and ultimately, a better price. Advertising should be viewed not as cost, but an investment.
Advertising comes in all shapes and sizes including the advent of social media platforms. Fortunately for our clients we have years of experience in knowing what works for what property. We also have the benefit of negotiating favourable advertising costs with our regular suppliers including sign contractors, printed press and online providers.Typically, we suggest an allowance of 1% of your property value to cover an appropriate advertising program.
Firstly, our agent will provide you with step-by-step instructions to guide you through the sales process. These instructions are individually tailored for each property and may include:
– Assistance and recommendations around overall presentation of the property
– A time table indicating when the property will be launched
– Information regarding professional photography (and / or video) and drafting floor plans
– Plans to discuss and present the major selling features of the property
– Appropriate inspection times
In most cases our agent will manage the preparation of a sale contract. Should you prefer, you may also discuss the involvement of your own solicitor with your agent.
We regularly sell property subject to tenancies, however, the Residential Tenancy Act does provide certain provisions that must be adhered to, such as appropriate inspection protocols. It is important to discuss this process with your tenant early to ensure a smooth transaction for all.