Selling My Property

How Does Property Settlement Work?

A property sale culminates on the settlement day. The process of property settlement involves the exchange of all relevant legal…

REIA Glossary of Terms

REIA Consumer Fact Sheet The Real Estate Institute of Australia (REIA) is the national association for Australia’s real estate profession. …

If you’re looking to sell a property as soon as possible, you’ll need to get organised quickly. The most popular approaches are private sale or auction.

How Can I Sell My Property via a Private Sale or Auction?

  1. The first step in selling your property is to start looking for a real estate agent. It’s best to make a shortlist of agents in your local area - as those based nearby will know more about its key features and selling points - and then carefully compare those service providers to find the best.

Before settling on your chosen real estate agent, it may be best to get your property independently valued. Some agents may try to attract business by making it seem as though your property is worth more than it really is - meaning it could to sit on the market for months.

Others may even undervalue it so that interest is strong and they can achieve a quick turnover.

You will have to pay agency fees but remember: you won’t need to pay those fees up front, and you should always be ready to negotiate. Nothing is set in stone.

  1. In order to prepare the house for viewings and to have photographs taken for marketing purposes, you need to give it a thorough rejuvenation. Declutter, hoover, dust, polish, prune and mow the garden and get everything looking like new!
  1. You’ll need to consider the method by which you’d like to sell. The most popular are via private sale or via auction.

Benefits Of Selling A Property Privately

One of the main benefits of private sale is that you will have a little more time to consider all offers. It also means that you’ll often need to pay less in advertising fees, and you won’t need to pay anything for auctioneering whatsoever. If you choose private sale, it’s up to your agent to drum up interest and arrange viewings.

If you choose to sell via auction, on the other hand, all activity will be focussed on a single date. While private sale bidding is “blind”, potential buyers at an auction can see the offers that are being put in, which may drive up your property’s price! The process will be over much more quickly that in a private sale. However, if your property does not sell on the day - for example, if the reserve price is not reached - you may be able to follow up with those who expressed interest.

Many prospective sellers ask “can I sell a property myself to save on commission fees?”. It is absolutely possible to sell your own property online if you have the time to manage the process properly. However, using a real estate agent to sell your property comes with many advantages such as market knowledge and negotiation skills to get you the best result possible.

LocalAgentFinder runs a database of highly accomplished real estate agents that can be directly compared in a matter of minutes. The service is free to property owners!

We have the most comprehensive comparison of real estate agents in Australia with real estate agents in Beenleigh, Queensland through to real estate agents in Balwyn, Victoria.

The best advice we can give on how to sell your property is to find the best agent for the job and to be organised and flexible. Having everything ready to go, answering all questions and listening to the advice of your agent should result in a smooth, quick and easy sale.