1.What is my house worth – this is one of the most important aspects to complete a private sale. While most agents have a reasonable understanding of the market the private seller needs to educate themselves. This can be done by
a. Visiting open houses of similar attributes to yours in the way of number of bedrooms, bathrooms and land size and in the same geographical location as you are. Visit a minimum of five properties. By adding up the value of all the properties and diving by that number you’ve researched you will get the average value of properties with similar attribute to your sale area. Location, views, aspects and unique features will always add a few percentage points of value to your property value.
b. Get a professional property valuation done. Approaching your bank and using their valuation services will ensure you get the valuation done at a discount rate which in Australia is around a couple of hundred dollars. You should use this in conjunction with your market research.
2. Real Estate Legal’s – Source a solicitor or property conveyancing clerk to look into all the legal aspects of selling house. In Australia each state has varying laws as to who is able to manage the legal aspect of your property sale. Get this aspect organized before you market your house for sale. This aspect is important also because when it comes to requesting a deposit from your buyer you can have the deposit put into your solicitor’s trust account.
3. Preparing Your House for Sale – Rule one here is to tidy up and de-clutter. People want to see a house that is roomy, fresh, clean and tidy.
a. No clutter means more space. Kitchens and bathrooms are good selling aspects of the property sale. A massive spring clean is the way to go and take no prisoners. If you haven’t used it in 6 months chances are you never will so throw it out or donate. Go from room to room and clean out cupboard and storage areas of things that have not been used. People want space so you need to present your house that way.
b. Clean grit and grime off kitchen splash backs, bench tops and bathrooms surfaces. Ensure ovens and stoves are spotless.
c. Clean floors and walls of marks.
d. Stage your property at open houses with fresh flowers in the main bedroom, fruit bowl with fresh fruit in the kitchen, fluffy towel sets in the bathroom and potted plants near the entrance.
4. Selling House Privately game plan – make a list of the things that need to be done and time lines to have these processed. Include a start date for marketing and open houses and an estimated completion date of your property sale and when you want to vacate.
5. Real Estate For Sale By Owner Marketing – People still use a variety of media to research and buy property. This will include flyers, news paper advertising, signs, social networks (word of mouth) and internet (real estate portals and search engines). Professional marketers and research conducted by Nielsen Research support the importance of integrating print and media to source property buyers.
Integral to this is having your photos done professionally for your advertising. Buying real estate, in many instances is done with emotion. By presenting your property with professionally taken photos ensures you are putting your best for forward in attracting buyers. If you have no access to a professional photographer Selling My House offer some superb tips to take photos like a pro in their education centre.
Use your photos in all your real estate for sale by owner marketing which may include color photo house sign, property for sale flyers that are delivered to your local area, color photo press advertising, online listings, search engine marketing and property marketing video.
6. Read a little on selling and negotiating – this will enable you to better understand the buyer and provide the tools to deliver a faster property sale and to the price you are asking