Tuesday, 5 June 2012

Can I Sell My Property While it is Currently Leased?


You are able to sell your property while it is being leased, but any potential purchaser must be told there is a current lease in place and that the property will not be sold with vacant possession.

The tenant has the right to occupy the residence until the end of the lease term, unless both parties negotiate and agree to terminate the existing agreement.

In some cases, the fact your property has reliable tenants in place may actually be appealing to prospective investors.

http://www.ljhooker.com.au/sell/selling-faqs?sid=rsl

Monday, 4 June 2012

Kylie's Tip of the Day...Insurance

Are you covered for open inspections?

Do I Pay a Commission if I Sell the Property Myself?


If you sell the property yourself, whether or not you have to pay the agent a commission will depend entirely on the agreement you signed with them.

In many cases you may still need to pay the commission as, for example, it is likely that the promotional activities undertaken by the agent exposed the buyer to the property on the market.

You should talk to your agent about this issue, or alternatively take a copy of the agreement to your solicitor or conveyancer for advice.

http://www.ljhooker.com.au/sell/selling-faqs?sid=rsl

Sunday, 3 June 2012

Can I Sell My House by Myself?

It is not a legal requirement to use an agent to sell your property - you may elect to undertake the process yourself. However, there are many reasons why people generally engage the services of a professional to ensure the best price.

Aside from the obvious expertise in marketing, negotiation and selling that an agent brings, most buyers also prefer not to deal directly with the seller. If buyers know you are not paying for an agent, they will usually expect to see the house price reduced accordingly.

In the end, selling a property on your own might lead to a lot of work and pressure, without actually saving any money or maximising the end sale value.

http://www.ljhooker.com.au/sell/selling-faqs?sid=rsl

Saturday, 2 June 2012

Kylie's Tip of the Day...Toilet Training

Lids down please!

Quirky Ideas for Open Homes

Bath with towelPreparing and presenting your house for sale in its best possible light really pays dividends in the end financial result. Here are a few sure-fire ways to make your open home a success.

The little, and sometimes large, touches applied to a home’s presentation for sale can make the difference of achieving the best possible result or selling for an average price.

The right atmosphere is the critical determinant when preparing your property for open home inspections. This can involve making the effort to ensure buyers feel and see themselves living in a property with the use of food, music, flowers, tea and basically limitless devices.

Dressing the property for sale could be a family effort through the assigning of tasks to individual family members in preparation for the big open home day. Tasks might involve painting walls, changing door knobs, converting a study into a bedroom and making new blinds. Purchasing furniture on eBay or hiring it from professional home staging firms to suit a home’s décor may well be the go.

De-cluttering a property to maximise it spaciousness may also be vital – vendors might consider hiring storage units for children’s toys, dining room tables, computer desks and other household bits and pieces might all require packing away.

Structural endeavours such as laying synthetic turf in the back yard, creating an outdoor children’s area, complete with sandpit and cubby, and relaying stone paths are not unheard of – maybe you should think about this too.

Creating a homely environment where people feel like they could really live in a property was very important for the family home sale – never leave things too much to what you think a purchaser’s opinion might be – or to chance.

Don’t overlook anything – lighting fresh scented candles, placing lollipops in the cubby, buying lovely cakes for the cake stand, setting elaborate settings on inside and outdoor tables, firing up the new Wurlitzer jukebox bought for the occasion, turning all the lights on, heating the house according to the weather, turning on spas – indoors and outdoors – displaying cookbooks and even setting up a project in the art studio; it’s all attention to detail, and that’s what will lead to a premium price at sale.

The time and effort spent in preparing the home before sale usually has a large impact on the buyers inspecting the property. Perception is reality in selling, and creating a warm, homely and inviting environment will position your property ahead of others in a buyer’s mind.

In preparing for your open home inspection, consider the following:
  • In the kitchen, hand pick herbs and place them in a glass of water.
  • Always clean and tidy the dog area and take dog out during open times.
  • Plant out pots for colour.
  • Where possible, add water. Plug up pots, paint them blue and fill with fish and water plants. And, if you feed them just before the open, they come to the top.
  • Buy new towels for the bathroom and only display them at open times.
  • Don’t forget the laundry – make sure your laundry baskets are tidy. You can always pick up cheap new ones at sales.
  • If you are burning incense, make sure it is subtle.
  • Prepare the home for the temperature of the day – if it is cold, light fires, turn on patio heaters and heating. If hot, turn on fans and cooling systems.
  • Turn on every light in the house.
  • If you light candles, make sure you come home straight after the open to blow them out. Make sure your property is appealing from the gate right through to the back yard.

*Article by Geoffrey Rush

by AliceM | 03/03/2010

http://experts.realestate.com.au/selling/selling-news-quirky-ideas-for-open-homes

Friday, 25 May 2012

Choosing the Right Agent

Selling a property is not something you do every day so knowing what to look for in a selling agent isn't exactly an easy thing to do.

If you choose a selling agent purely on quoted price, you could make a huge mistake. Thousands of sellers have learned from bitter if not expensive experience that the price the selling agent says you should achieve and the price the property is really worth and ends up selling for are often quite different.
More often than not selling agents who tell you a more accurate "at market" price lose business to agents who tell prospective vendors an inflated "above market" price. This puts the more honest agents in an unfortunate situation. If they tell the truth, they run a much higher risk of not getting your business at all — and the problem is they all know this.
This is why many try to avoid the price and say, "It's hard to judge exactly. It depends on who is currently in the market. Let's not put a price on it. Let's auction and see what happens."
When you ask for a guide on your home's likely selling price, many selling agents will ask you what you think it's worth or ask you what would you like for it. They will often simply agree with whatever you say and add, "if that kind of money is out there for your home I will get it for you". Or they will simply either avoid giving you a price and talk auction or inflate the figure above what they think it's really worth in the hope to secure your business.
Interviewing selling agents is similar to a job interview. The job description you're after should be along the lines of: "A person you like, who presents well, who genuinely likes your property, who you believe will act in your best interests and be honest with you at all times and will work hard to get you the highest price possible".
 
Do your homework on the agency also paying attention to:

  • The quality of its website. Was it easy to find them and navigate through to view properties? Do they add descriptions which make you want to inspect their properties? What's their area profile like?
  • I suggest you become a mystery shopper with any local agencies you are considering going with. See how they really treat prospective buyers.
Picking the right person could easily make a five percent or more difference in the final sale price so do your research and pick wisely.
Ask your friends for a referral to someone they have dealt with. Have they worked with an agent who did a great job? Once you have a list of agents, make an appointment with each one to learn more about their services. Always interview at least three selling agents and if you don't like what you see pick another three.
Listen to your instincts. Show each agent around your home. Watch their level of interest by seeing if they ask questions or make notes.
 
A couple of good questions to ask each selling agent are:

  • "What will you do to get the best price for my home?" and "What will you do to sell my home if the advertising you suggest doesn't work?"
  • Ask them to explain the benefits of any marketing tactics that will be used to sell your house; including print, the Internet and other types of advertising (you'll already know much of this if you've done your research on them).
  • What's their commission rate? How does it compare to that of other agencies that offer the same services? Keep in mind I don't suggest you pick the cheapest or the dearest … I suggest you pick the best person for the job and as long as their fee is reasonable then use them.
  • Find out how long they want you to list with them, keeping in mind that three months is pretty standard. Some will say to you I would have this sold in a few weeks with the amount of buyers I have on my books so offer them a four week agreement and gauge their reaction.
It's good to know how long the (potential) listing agent been licensed to sell real estate and what else they have sold in the area as you don't want to trust the sale of such an important asset to an inexperienced person.
Remember, do not be intimidated or allow yourself to be pressured into doing anything that doesn't feel right. It is your home and you are in charge, so take your time when making such an important financial decision.
 
By Patrick Bright*
 
* To learn more about Patrick Bright visit http://www.epspropertysearch.com.au/

http://finance.ninemsn.com.au/pfproperty/sellingandmoving/8123594/sell-your-house-choose-a-selling-agent