Selling up for your move to a retirement village
Many of us look forward to the lifestyle offered by a retirement village, but daunted by the steps involved in selling our existing home. It might be some years since you last sold a property – if ever. And the way Brisbane real estate agents handle sales has changed enormously in recent years.
So here’s some simple tips to help:
1. Find the right agent. You need to hire someone you can trust and who will work hard to get you the best result. Choosing a member of the Real Estate Institute of Queensland means you’ll have an agent who’s bound by high standards, and is required to update their knowledge and skills every year.
Your chosen agent need to know your neighbourhood well so they can first sell the location. This is a huge part of the value of your home and if they don’t know about local schools and shops and bus routes, you might miss that best price. The Bees Nees Realty sales team are specialists in Brisbane’s inner suburbs.
The cheapest agent is the one who gets you the best net result. Often the better negotiators will have slightly higher commission rates and marketing fees than new-comers or less successful salespeople. But if they can genuinely get you a better price they are almost always worth the extra. Expect to pay between 2.75% to 3.75% of the sale price (incl commission, marketing costs and GST)
2. What’s my home’s worth? Ask your agent for a report on the recent sales of comparable properties plus the homes currently on the market that you will be competing with. Then ask them to give you an opinion in writing of your current selling range. Ask them for honest feedback on your property’s strengths and weaknesses (and promise you won’t yell at them!). It can be hard to see these for yourself but you need to hear them.
Beware of false praise or an unusually high estimate! Yes you want your agent to like your property, but their price advice needs to consider both its strengths and weaknesses. If you’re unsure about the advice you receive then consider getting a 2nd and even a 3rd agent out for a market appraisal – but don’t use their price estimate as the basis for hiring them!
3. Preparing the home for sale… Consider the value pyramid and don’t be overly concerned about the condition of bathrooms and kitchens and other expensive fittings. Some refreshing like carpets and painting can be worthwhile, but we recommend you focus on making it look as big, open and bright as possible.
I can’t overstate the importance of this recommendation: You need to remove excess items and de-clutter every last corner as we want the property to appear as large as possible. You might be surprised how few items need to be kept! Lots of open rooms will maximise your price and a buyer will mentally ‘fill in the spaces’ with their own furnishings.
4. Listen to the market. Once you’re up for sale your agent will keep you updated with regular feedback from buyers. What do they like? What might be holding them back from making an offer? And what other places are they comparing us to? You need to hear all of this so you can assess an offer once you receive it.
Often the best offers will come in the first couple of weeks when you’re the fresh listing. Don’t be scared to grab one of these – provided you’ve had good advice at the start and feel confident with your agent’s recommendations. Test the agent. Ask them to again compare your home to others that have sold and challenge their examples. A good agent will be confident in their answers – and a great agent will always be working to get you every last dollar from the sale.
The Bees Nees team can personally assist in the sale of your home or, where it’s in a location we don’t know and service, we’ll provide you with free assistance in finding a suitable agent. Simply call our sales team on 07 3214 6888!