Tag: selling your home

When is the best time to buy or sell real estate?

There is no hard and fast answer to this question, but if you want to generalise, the answers are “when you are ready” and “always buy and sell in the same market”.

It really doesn’t matter what time of year it is, there are always people looking to move, it is just that at certain times of the year there are more transitions and transactions happening, that it is busier and there is more competition – for both buyers and sellers. The month lead up to School holidays factor as quite busy times of the year, as buyers looking to be able to settle into their new homes during the break especially if moving interstate or to different suburbs that require a change of schools. Easter and Christmas can be a little bit quieter in activity as people’s focus can move to other things such as family gatherings and work parties. However Boxing Day is the highest viewing day on realestate.com.au every year! The thing is though, the serious buyers that have a need to buy are still out in force all year round!

To be ready, if you are looking to buy, make sure you have already spoken to a broker or bank, know your budget, and have a pre-approval in place so that the time needed on your offer for finance approval can be shortened. Research the areas and style of home you are looking for, and have a clear idea of what price the type of property you are looking for generally sells, so you can make fast, informed decisions. Nothing worse than hesitating to do additional research and missing out on a suitable property time and time again.

If you are thinking of selling, have your local agent come around and give you a written appraisal, and make sure they give you evidence of similar properties that have recently sold or are currently on the market to demonstrate how they came up with the appraisal price. Other questions you should ask, are around the strategy they suggest, as well as a marketing package to suit your property, strategy and circumstances. All agents now charge different commission rates in Queensland since the deregulation, and there can be a wide variation in fees. Don’t be scared to ask the agent why they charge the rate they do. Sometimes the cheaper agents are not as highly trained or experienced as the agents that charge a slightly higher percentage, and service levels and extras that the agencies provide also vary widely, so find out what they will do for you. It is important to remember that the most affordable agent, is the one that leaves the most money in your pocket at the end of the transaction. So ask for testimonials or proof that the agent has a track record of achieving better results if they are charging a higher rate.

Why buy and sell in the same market? Well, whether you are in a boom or a downturn market, if you buy and sell at the same time it all balances out, and there is definitely less risk involved!

Call or email Rebecca Herbst for a no obligation sales appraisal and strategy for you home – 0417 644 840 or email rebecca.herbst@century21.com.au

Advertising for your property or your agents profile?!

During the course of every day we speak to owners considering selling their properties. I am always surprised to hear some of the information I am told by potential sellers with relation to what other sales agents have told them they “must do” with regards to Vendor Paid advertising to list with that agency.

Now I know that in some cases agencies or brands have requirements put upon them to meet certain levels of advertising for agency branded magazines, newspapers etc, but do agents actual consider what is in the seller – and their potential client’s – best interests, or are they filling a “spot” to help build their brand profile…

I’m not trying to start a war, but it is no surprise that printed media is being used less and less as the age of technology is taking over in leaps and bounds! No longer do all potential buyers wait for the local paper or the Saturday morning real estate section to be delivered or picked up from the newsagency. Most open homes or inspections are slotted into a buyer’s calendar from the internet sites well before the weekend.

In our Ipswich market at least, newspaper advertising is largely unnecessary for most residential property.

So what does that mean for you potential sellers out there? Yes, in some areas printed media still has their place, but it is driving less and less enquiry to your door. Purely and simply the internet is a must and there are a few different options out there with the main sites like  www.domain.com.au and www.realestate.com.au, but sellers need to do their research too!

Sellers, don’t be afraid to question the agents that you have come to appraise your property and discuss costs and fees. If they can explain and show you why they are recommending various marketing options, and what they are suggesting is proven to bring results, fantastic. If they can’t… are they the right agent for you?

And of course I’d love to help you, with a well-planned and relevant promotional campaign, if you are considering selling.

Please call me, Rebecca Herbst on 0417 644 840 or email rebecca.herbst@century21.com.au

How important is a pre-settlement Inspection?

When you purchase a property – whether it is for yourself to move into as your new home, or as an investment, you are entitled to a final inspection of the property before settlement occurs and you become the legal owner of the property.

Obviously if you are purchasing the property with vacant possession, the best time to do the inspection is as soon as the occupants have vacated, and as close to the time of settlement as possible – such as the afternoon on the day before settlement, or the morning of settlement day. If the you are purchasing a property with tenants in place that will be remaining once you take over ownership, it is also a good idea to do a pre-settlement inspection within 3 days of settlement, just to make sure the property is basically in the same condition it was when you first inspected it and there has not been any damage done that you have not been made aware of.

So what do you look for at a pre-settlement inspection?

1. Is the property in the same condition or has there been any damage – other than fair wear and tear to the property, since you signed the contract?

2. Is everything that was in working order when you signed the contract or at the time of the building & pest inspection report, still working?

3. Are any items that were listed as inclusions on the contract of sale still in the property?

What can you do if there is a problem?

If it is just a small issue like some rubbish that can easily removed by throwing it in the wheelie bin, just mention it to the sales agent so it can be brought up with the seller to see if the sellers are willing to attend to it. If the issue doesn’t end up being rectified by settlement, while it is not nice, it also is not a major drama that can delay or hold up settlement.

If there is an unreasonable issue that you are unwilling to accept, you have a couple of options.

1. Discuss the problem with your agent as they have a direct ear to the seller, but also notify your Solicitor that you would like to formally request to the Seller what the issues are and that you are requesting the matters to be remedied before settlement occurs.

2. Your solicitor will advise you on the course to take depending on the issue, but it could mean that settlement may be delayed until the issue is remedied, or that settlement continues as planned but some funds are withheld at settlement until the issue is rectified.

Have some more questions? Please call me, Rebecca Herbst on 0417 644 840 or email rebecca.herbst@century21.com.au

How to choose the right agent to represent you!

When you are looking at what is usually the largest asset you will ever own, don’t be tempted to try to sell it yourself. Why you ask? It’s not just because selling property is our business, it’s because it just makes good common sense! Savvy real estate agents also will use another real estate agent to sell their own property – because even if they are themselves a super salesperson, they know that it is important to have a third party handle the negotiations of a sale. When emotions get involved, achieving the highest price possible for your asset can be hindered.

But there are other reasons as well! A potential buyer will know that you are trying to sell privately and save money by not paying thousands in commission. So more often than not, they will just offer you less and negotiate harder with you to get a better deal. In the end, trying to sell your home yourself could means that you have to deal with the stress and hard work yourself, and then potentially end up with less money than what a skilled agent would have achieved for you! And higher solicitor fees for drafting and completing contracts…

So how do you find the right agent? It’s simple. Have at least three agents come and appraise your property. Interview them! Make a decision based on whether you feel they will represent your property in the market to its full potential, and you feel you can work well together. Employ an agent that understands your home, can acknowledges the positives and competently can manage the negatives. Do they know and focus on your area, and have a good track record of sales? Are they well presented, professional, yet friendly and enthusiastic? It is possible that agents of this calibre – because they are very good – are not the cheapest. There is a difference between what is cheap and getting value for money. An agent that is prepared to negotiate their commission down just to secure the listing from you, has just shown you that they are not a skilled negotiator! Do you want an agent that will build value into your property and negotiate for you the best possible sales price, or one that will do anything just to get the sale at any price?

Not sure who to choose? Please call Rebecca Herbst for a no obligation sales appraisal and selling strategy on 0417 644 840 or email rebecca.herbst@century21.com.au