4 ways to sell property like a pro

Published on November 26th, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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The buying and selling of a house all boil down to one main component; strategy. Whether you are a seller or a buyer you need to come prepared to carry through this important transaction to walk away with the best deal. Before you close on a deal on as a seller there are a few handy tips that you need to know to make the transaction successful.

Set a strategy

Before the hordes of potential buyers come to your front door it is important that you cover your basis. Once you have gone through the process of enlisting the professionals who will help you sell your house such as real estate agents, evaluators, conveyancer’s and more you can start fleshing out things such as:

Terms of the purchase price

This will be cleared by an evaluation of the property which will tell you how much your property is worth. You can also conduct a search for houses that are similar to your own in the same area to gauge the right price for your property.

Set a budget

You will need a budget to take care of any needed renovations to the house to add to the property value. You need to know what can add value and what won’t add value to avoid wasting money.

Bring your ‘A’ game

There is a thing or two that you can learn from how estate agents work when selling a property. One of the things that estate agents do during the negotiation process is give homebuyers their undivided attention. This might seem like a no-brainer, but your body language can either attract or repel potential buyers.

Standing or moving about without purpose be seen as a sign that you are not committed to pushing the deal through. Maintain good eye contact without creeping out your potential buyer. Be present. Switch off your phone and avoid responding to other client’s messages when you are with a client. In the end, you want it to be a pleasant process that will push through the deal.

Listen very carefully

Think of the selling process in terms of the well-known adage, ‘It takes two to tango.’ You might be the one selling, but at the end of the day, your aim is to get the property off your hands. If you make it an unpleasant process it will still on the market for a long time and you could eventually be forced to settle for less than what it is worth. Always listen to what the other party is saying in order for you to reach an agreement that benefits both parties. Leave some room for negotiations but have a set value that you are not willing to go lower than.

Potential vs window shoppers

The last thing that you want is to spend your time chatting up someone who seems to be interested in the house, but when it is time to get down to business they give you the run around or tell you they are not interested. If your potential buyer is interested but do not have their documents in order such as a pre-approved loan ready, walk away. If they keep bringing up how many houses they have seen over the years this is a clear sign of a classic window shopper; someone who likes viewing houses but never really settles on buying it.

Time is money. Therefore, you want to get the train moving instead of wasting it. You need to have a professional that you are consulting with who will ensure that you are getting the best deal by evaluating the offers that have been given to you.

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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

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The interest rate, comparison rate, fees and monthly repayments will depend on factors specific to your profile, such as your financial situation, as well as others, such as the loan’s size and your chosen repayment term. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, aren’t included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate.

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