Preparing Stradbroke Island Real Estate For Sale
You've made the decision to sell! Now it's time for the preparation and other decisions that are required to be made to put your property on the market.
A tidy home says "Welcome". Your home should be kept neat and tidy during the period of inspections. It doesn't have to be a "show place" but appear a comfortable home in which to live. While you're cleaning consider what furniture needs to be in each room. Rooms look smaller when they are crowded. Declutter if necessary.
Ensure that any minor repairs that need doing are done. Sticking doors and windows, loose door knobs, faulty plumbing, or peeling paint may affect your sale. Let plenty of light into your home. Nothing improves atmosphere more than brightness. On a dull day switch on some lights prior to arrival of prospective purchasers.
When you get a contract it will most likely be subject to a satisfactory building and pest inspection. Whilst no house is perfect it is in your interest to ensure the condition of your property will not adversely affect the sale.
Selecting an Agent
Your next decision is to choose an agent and have your property appraised. It is advisable to contact a couple of agents and have a chat with each of them. You should feel comfortable with the agent you choose. Do not fall into the trap of choosing an agent based solely on the price they have quoted you. Your property should be listed at a premium but achievable price. Insist on the agent backing their opinions up with facts. Ask what sales they have recently made in your area. What experience do they have? What systems do they have in place to ensure your property will generate the maximum level of interest? How are they going to professionally and comprehensively market your property? Do you feel they would be the best person to represent your home? Do you trust them?
Signing an Agency Agreement
By law an agent cannot market your property without a fully signed ‘appointment to act’ (PAMD Form 22a). This is a legally binding contract between you and your real estate agent. The form specifies several important elements to the agreement. These include the services to be performed by the agent, the agreed commission as well as other fees and charges including advertising and marketing costs. It is important that you fully understand the terms and conditions of the agreement.
There are essentially three (3) categories of appointment. The agreement form explains the difference between each one. Below is a brief description of each category.
Open Listing
You can appoint any number of agents to market your property. Only the agent who sells the property will get paid. You have the right to sell the property in which case no commission is payable. This appointment can be ended by either you or the agent at any time.
Sole Agency
You appoint one agent to market and sell your home. You have the right to sell the property yourself in which case no commission is payable. If the agent sells the property, commission is payable. If you are interested in marketing and selling your own home yourself this type of agreement would be suitable. You usually get a good level of commitment from your agent. Each appointment is for a maximum of 60 days.
Exclusive Listing
You appoint one (1) agent to handle the marketing and sale of your property. You only deal with this agent. They are responsible and accountable for the entire process. This agent would be in constant contact with you and the level of commitment is usually very high. If and when your property sells this agent will get paid. Each exclusive appointment is for a maximum of 60 days. If you have any questions with regard to these agreements please speak with your solicitor.
Commission Fee
The standard REIQ commission is 5% of the first $18,000.00 and 2.5% of the balance, plus 10 % GST.
If you are thinking of selling now or in the future or would just like an up to date market appraisal we would be delighted to hear from you.
For more information on buying or selling a property please visit the REIQ website.