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TAKING A DIY APPROACH TO SELLING YOUR PROPERTY? HERE’S WHAT YOU NEED TO KNOW TO GET IT RIGHT.

How Do I Sell My Property Myself? Tips To Help FOR SALE BY OWNERS!

So you’ve decided to avoid hiring a real estate agent in favour of a do-it-yourself approach to selling your property. The good news is that you’ll save on the agent’s commission, however selling your home yourself also comes with the risk that you’ll fall short of achieving the property’s full market value and lose money in the long run.

You’ll also need to invest significant time in the process and be available to answer buyer queries, host inspections, and manage settlement. While taking a DIY approach should certainly not be seen as a shortcut to sale, it can be a fulfilling experience if you get it right. Here’s what you need to consider…

Draft a contract

Before you put your property on the market you’ll need to draw up a contract for the sale. It is essential that this is done correctly in order to protect your interests and ensure the sale meets all your legal obligations. Unless you have professional experience in this area, it is advisable to seek the assistance of a conveyancer or solicitor. Making mistakes here can be costly.

Set an asking price

You’ll need to study sales data from comparable properties in your market to identify the market value of your home. Examine the sale prices of similar properties that have recently sold in your area, and measure your property against these. It is also essential to stay objective throughout this process – don’t allow yourself to be influenced by your emotional attachment to the property or you’ll run the risk of pricing yourself out of the market.

Implement a marketing campaign

Attracting the most buyer interest as possible is the most effective way to achieve the sale price you want. This requires the right marketing campaign for your property. Consider booking online and print listings, commissioning a professional photographer, getting a floor plan drawn, booking a videographer to create a video tour of the property, and hiring a property stylist. Real estate agents usually provide package deals based on access to industry rates, so expect to pay a little more if you’re approaching service providers independently.

Manage inspections

A real estate agent will usually advise you how to prepare your home for inspection, but the key takeaways are to keep it clean, decluttered and well maintained. However the real art in managing inspections is the ability to identify buyer profiles as they walk through your door so you can match your sales pitch to meet their personal preferences.

Negotiate like a pro

You’ll also need high-level negotiation skills. Keep in mind that many buyers use a buyer’s agent or conveyancer to negotiate contract and settlement terms, so you’ll need to feel comfortable negotiating with industry experts who may try to exert pressure on you to get the best outcome for their client.

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Seller Information

Sometimes information is hard to come by in this industry! So we've made it easier for you to have answers to the questions you have when you're making decisions on your biggest asset.