3 Things to Remember when Selling your Home!

House Price Scale

Selling a home can be stressful as you're likely to be buying one at the same time, but planning ahead will make the process a lot smoother. Information, such as the amount a buyer may borrow from the bank to purchase a home, is very important before putting your home on the market. As a seller, finding a professional Estate Agent is key. Aim for an Estate Agent that will under-promise and over-deliver. Don't hire an Agent just because they've promised to get you the highest selling price, or are offering the lowest fee.

Preparing your home for viewers is important, but preparing to sell your home is even more so.

1) If your Home is priced right, it will sell.

Getting to that listing price is a group effort that involves the Seller, the Agent and your local bank’s Valuator.

A bank valuation is the foundation of all real estate sales. It is the bricks and mortar of establishing a true market and mortgage value. The bank qualified Valuator will ultimately be the arbiter of pricing and will determine the ability of a buyer to afford the mortgage.

A market value assessment is provided by an Estate Agent based on comparable sales but will not be relied upon by a bank, and neither should you.

I have often had sellers say to me “I don’t believe in Valuators” and my response is “too bad, because the Buyer’s bank will.”

A professional and knowledgeable agent is your second counsel, who estimates a price based on how your home sits on the land, curb appeal, conditions, upkeep and style of your home, the quality of homes surrounding yours, and most importantly the price and frequency of sales in your area. An experienced agent will understand that an over-priced listing is not a sale, they will have an instinct for pricing a rather rapidly changing market, and their opinion on the price may be relied on for a market value opinion. Conversely, an unprofessional Agent may be tempted to price the property by asking a seller what they think the property is worth. It is an easy out for an Agent, but can be equally disastrous. Getting that listing is important to an Agent; the unprofessional may think of any cost, but a seasoned agent knows the cost of over-pricing.

Both seller and agent must remember that the ultimate goal is to sell your home. It is very tempting to make the seller happy for a few minutes, to help them bask in the glory of an over-priced offering, but the months and even years that a sale could be derailed for doesn’t always have a happy ending.

The combination of a professional agent and a valuator may not guarantee immediate success but will certainly place you the frontrunner for a quick sale.

2) Today's Buyers are educated.

Finding true and qualified buyers is your number one goal and having that bank valuation in hand goes a long way to allaying any fears that the buyer may be over-paying for that home, or that the bank will not lend money to a buyer without a valuation. A professional Agent will know the market and its twists and turns, but the steely eye of the bank will determine whether that sale will move forward. Remember: a buyer is likely to find your listing online and standing out as over-priced may never get them to the point of entering your doorway. You may say to your Agent that you can offer a lower price upon the buyers demand, but most buyers will not put themselves in that position. The investing Buyer will most often refuse to pay even fair market value, as that is not why they invest.

3) An authentic, educated and professional Agent is the face of your home.

It is not just the Seller who needs to feel confidence in the Agent. Always remember that the Agent is your representative and will have to instil confidence in the buyer, just as the buyer must come to trust the agent. The buyer will be looking to that agent to steer them through the intricacies of buying your home; credibility, confidence and a bank valuation at hand will go a long way to a successful end for both the buyer and the seller.

Visit YellowSquare Properties for professional Estate Agents that can assist you with selling your home.

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Updated 1 June 2022

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