If you would like more detailed information on our different approach to selling a home, get in contact with us, or fill out this form, and we’ll send you a copy of the Shore Property Selling System.
How do I engage Shore Property as my agent?
Before we can market your property, we must sign a contract with you, called an agency agreement. An agency agreement is a legally binding contract and it is important that you read and understand it. If you are not sure about the agreement terms you should get legal advice. The agency agreement is generally for a set period of time, and it sets all all the parameters of the process of selling your property, such as commission, estimated selling price and the services we will provide.
Do I need a solicitor?
It is not a legal requirement to hire a solicitor or conveyancer to sell your property, but it is highly recommended that you do. Before you can market a property for sale, you need to have a Contract of Sale prepared. If you hire a solicitor or conveyancer, they will prepare this document for you. They will also liaise with the buyers solicitors, prepare documentation and complete the contract exchange and settlement process.
How do I know how much my house is worth?
Prior to listing your property for sale, we would produce a Comparative Market Analysis (CMA) on your property. The CMA looks at similar properties to yours that have recently sold, and will take into account current market conditions. The CMA will generally give you a likely price range you property will sell within, and it is this range that would be used for the agency agreement.
It is important to note that ultimately the price the house is listed for is the seller’s decision, and you can hire the services of a registered valuer if you want a second opinion on the value of your property.
How do I prepare my home for sale?
When selling your house presentation is everything. You may (or may not) be surprised to know that buyers often have very little imagination regarding what a house ‘may’ look like with some minor renovations, or even just some maintenance. So to ensure buyers don’t need to use their imagination, you need to ensure your home is presented as well as possible. This may just be some gardening, and a few minor repairs. Or it may be styling your house, or even some small renovations.
Before listing your home for sale, we conduct a maximum value audit on your home, and make a list of things to be done, prior to listing the house for sale. Also, we never ask you to send money preparing your home for sale, unless we are certain there will be a return on that investment.
How do open homes work?
Open homes are not compulsory, but they are an efficient way to get the maximum number of potential buyers through your home. And if conducted correctly, are a great way to create a sense of competition between buyers.
We advertise your property on a Friday and then have the first open house the following Saturday. This gives 8 days to get the maximum number of people to see your home is for sale, and get a large number of people to the first open house, creating a sense of competition.
When conducting open homes it is important to do all the little things right. This is because people often buy on emotion, so it is important to get the ‘feel’ right. We do this by doing things like having background music, ensuring the windows are open (in summer), or have the heater on in winter, and having an oil burner running. We also ensure people and kids are taken care of, with water and lollipops always available. It sounds like small things, but believe us, it makes a difference.
How long will it take to sell my home?
The time to sell a home will differ depending on the property, and also how the property market is performing. Before listing your home, we’ll sit down and look at current market statistics and the current average time to sell a home.
However, despite what the market is doing, we always aim to sell as quickly as possible. This may sound like a no brainer, but almost always the best price is achieved within the first 30 days. After this time, interest often wanes, and offers drop off, and become lower.
So how do we ensure the sale is as quick as possible? Simple, we follow a plan! The plan is simple, but it works. It involves concentrating as many buyers in the first two weeks as possible, and not considering offers within the first week. We do this by having only one open home advertised, and no private appointments during this time. This ensures that all the people we attract with our great marketing campaign are funnelled through the home at the same time. Other potential buyers see a lot of other interested parties, and this creates a sense of competition for the property which is crucial!
The other part of the plan is receiving offers from possible buyers, but letting them know that all offers will not be reviewed until the end of the two week period. This again creates a sense or urgency and competition.
This process is simple, yet very effective, and ensures we give your property the best chance of selling a premium price within 30 days.
What is exchange?
Exchanging contracts is essentially a process where you and the buyer each signs a copy of the contract. Once each has signed, the solicitor/conveyancers exchange the copies, and you both sign that copy leaving both parties with a contract signed by everyone.
Once you have signed, you cannot pull out of the sale, however the buyer has a 5 business day cooling off period, which can also be waived. The buyer will often use this time to have a pest and building report conducted and ensure their finance is in place.
One the cooling of period, the sale has gone unconditional, and the buyer cannot pull out. You then proceed to settlement based on the terms negotiated before contract exchange.
What is the settlement process?
Once the contracts have been exchanged, you move into the settlement period. The settlement timeframe is recorded on the contract, but can be negotiated before contract exchange. Typically the settlement time frame is between 28 and 42 days. Property ‘settlement’ is the legal process where ownership passes from the previous owner to the Buyer.
The process takes some time mainly due to the time taken by banks to get documents arranged, signed and approved. Other processes will be happening in the background such as title checks and the like.
Prior to the date of settlement (generally a few days before) the buyer conducts a final inspection. This is to ensure the property is in the same conditions, and all inclusions are remaining.
Once it is confirmed by the solicitor or conveyancer of both parties that settlement has occurred (legal documents are exchanged between solicitors/conveyancers and lenders), the property is now the property of the buyer. You will receive the deposit funds from our trust account, minus the sales commission. You will also receive the remaining sale funds from the buyer.