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ADVICE FOR SELLING

1. Light is essential. If it doesn't exist, look for ways to create it. Can a lamp be used, or perhaps a skylight could be installed to create more light? Cut foliage away from windows that might be preventing light from flooding into a room. Can a dark wall be lightened up? Buyers love light, so give them as much as you can.
2. Creating space is important. This might mean removing excess furniture from your property. Open up hallways and doorways. A room crowded with furniture will only make it look smaller. Buyers love big rooms. Remember, less is more.
3. How is your street appeal? The appearance of your property can encourage or discourage a buyer. How does it look from the street? Is it the type of property you would like to buy? Does your fence need painting?
4. A cluttered property will severely limit your chances of finding the right buyer. Clear kitchen, bathroom and laundry benches of excess items so buyers can see them. Most buyers will be looking for as much storage space as they can get.
5. Some people are allergic to cats and dogs. Make sure your pets are not around during an inspection.
6. It's better if the owner is not around during the inspection. The owner's presence may prevent a buyer from asking a question for fear of offending the owner. If you have faith in the agent handling things for you, it's better to leave and let them do their job.
7. Unpleasant odours like cigarette smoke, the smell from animals, lingering food odours and damp can all be addressed. A home is like a human body, it needs to breathe. Make sure your home is well ventilated. You can enhance presentation in a number of ways using artificial scents.
8. Retail specialists have proven that light classical music makes buyers stay longer and spend more. Why not use this to your advantage and have Vivaldi's flute concerto, or something similar, playing in the background.
9. Many buyers are looking for a garden but not a lot of work. Make sure your garden is not overgrown. Buyers want to spend their free time with their family and friends rather than be a slave to a high maintenance garden. A good looking, neat and tidy garden will add value to a property. An overgrown mess will not.
10. Most buyers are looking to purchase a lifestyle. This means your own personal effects and the way your home looks to a buyer will make a significant impression. To a certain extent they may be purchasing the way you live as much as the property itself. You can cater to the largest sector of the buying market by keeping your property neat, simple and practical.
11. Write yourself a pre-sale checklist. List everything you need to do before you go on the market. Next, prioritise your list in order of importance and start with number one. You might not get everything on your list completed, but at least the essential items that need attention will be done. You are better off not to start any new major projects. Concentrate on completing things that need doing.
12. There is no second chance at a first impression. The moment a buyer enters your property, a positive or negative thought will dominate. This is of major importance when it comes to influencing a buyer's opinion. Look at your property as if you are a buyer. Are there any improvements you could make?

1. Selling when you want to sell rather than when you have to sell is by far the most effective and successful approach. There will be less pressure and you can consider offers calmly.
2. It's less stressful. You are not forced to sell because you have bought another property. It's not much fun to lie awake each night wondering if you will have to spend up big on bridging finance.
3. Your negotiating strength is weakened if you buy first. The owner who has to sell is more likely to accept a lower price.
4. By selling first, you know exactly how much you have to spend on your next property.
5. Selling before you buy gives you time to start at a higher price if you wish. But keep in mind the damage you can do by starting with a super-inflated asking price.
6. By selling first you are in a better bargaining position to sell on the terms and conditions that suit you.

1. Unless you are in the fortunate situation where your property is the only one of its kind on the market, you're going to have some competition when you sell. Creating a value perception means you get on the buyer's shopping list. We can't have a sale until there's been a buyer inspection. If the property is not perceived as reasonable value to the purchaser then buyers will have no need to see it.
2. Getting onto the shopping list as early as you can means it will take less time to sell. Let's say you put your property on the market at a high asking price. Chances are you'll stay on the market until you bring your price down to make your property compete with others currently for sale. Why not consider using a base price or price range?
3. There is no recommended retail price on real estate but the fact is most buyers shop on price. Using a price range instead of a high price does not commit you to selling for a specific price. Buyers need the chance to consider your property. They can't consider it until they have seen it, but if you frighten buyers with a high price they won't be looking at all! Using a range may not work in every area and situation, but can usually be considered as an option.

1. There's an old saying: One man, one job. Two men, half a job. Appointing two real estate companies to sell your property is more likely to halve the effort than double the result.
2. You may believe that appointing more than one agent on the basis that the selling agent receives the whole fee will create action and a number of offers. But consider what will happen. If you do get an offer you will need to ask the agent if it's the best the buyer will pay. If the agent thinks another agent could sell the property at any time, are you likely to get the truth? How would you respond if you were the agent?
3. Imagine you are a salesperson in a sales team. Would you work hard to sell a property where you can only be rewarded with half your normal fee? Would you work as hard with the knowledge that another agent may sell the property and your hard work will all be for nothing? You may well find someone who is prepared to work under these conditions, but will they have the skill or expertise to represent you and negotiate your sale at the highest possible price?
4. Australia's most successful agents will not work in conjunction or on multi-listed properties. They are too busy looking after clients who have appointed them exclusively. A good agent in demand will have no time to work for half a fee, and if a top price is important to you, won't you need the best agent?
5. Buyers have become skilled at playing multiple agents who are both handling the same property, off against each other. Chances are one agent will tell such a buyer a lower price without your consent in an effort to encourage an offer. Their focus is on a sale before another agent rather than a sale at the highest price.

1. Question 1. If you can't sell my property what will it cost me? You need to establish what your worst case scenario is. Is there any hidden fine print to trick you into paying something regardless of the outcome?
2. Question 2. Where is the advertising money going to be spent? Look for examples of their marketing and find out which marketing methods will be employed for the sale of your property. Is it the best medium to sell your property for the highest price?
3. Question 3. What is the average time the agency takes to sell? This will differ depending on your area and the type of property you have to sell. Establish the average time it takes to sell a property in your area. If the agency you are speaking with takes longer to sell, you need to find out why. A property's ultimate selling price is compromised when it remains on the market for too long.
4. Question 4. Can they produce testimonials from recent sellers? These are really telling. We ask our clients to complete a questionnaire on our standard of service after we have sold for them and score us out of ten. We then show these completed forms to potential sellers if asked.
5. Question 5. How should your property be marketed for sale? You need to be sure that you are being correctly advised as to which method of sale best suits your property, situation and current market conditions. Whatever selling method you choose, make sure you minimise your downside.
6. Question 6. Is your fee negotiable? This is probably the best question you can ask. Above all else you are looking to hire the best negotiator. If the agent gives away their own money (by dropping their fee) they won't hesitate to give away yours in a negotiating situation. The quality of the agent you chose will be reflected in a higher sale price. When you hire an agent you're looking to buy the best performer. Instead of asking what the agent will cost, it might be wise to consider how much they can add.
7. Question 7. Will you be locked into a long-term exclusive agency agreement period from which there is no escape?
8. Question 8. Who will be handling your sale, conducting inspections, speaking with buyers and liaising with you, the client? An experienced agent or a personal assistant brand new to the industry?
9. Question 9. Can they illustrate how they will achieve a higher sale price than any other agent? This will come down to the agent's ability to deliver an effective listing presentation. You're looking for someone with presence that can clearly illustrate why their selling method is superior.
10. Question 10. Does your best friend have a key to your home? When you choose an agent you will be giving the key to your front door to a virtual stranger. Ask yourself: Can you trust them? What does your intuition tell you about them?

• What do they think you can achieve for the property?
• What is their suggested marketing method and why?
• What are they going to do that will produce a better price than any other agent?
• Where will your property be advertised?
• Who is your likely market?
• What are the agent's costs?
• Why are they the best agents for you?

Remember that if you shop on price you need to calculate the total cost of what the agent will charge. There is usually advertising as well as commission. Some agents charge a lower commission but want more for advertising. Be careful! The cheapest agent is the one who can achieve the highest price and net you more. You might also like to refer to the questions listed earlier about agent selection.

Step 4. After choosing your agent, you need to organise any sale documentation required. This is going to vary depending on where your property is located and what the requirements are in your state. It's important to keep in mind that it might take a number of weeks to get everything together. You will probably find that a sale cannot take place (no matter how attractive the offers are) until you have all correct sale documentation organised.
Step 5. And finally, complete your Owner's Notes. It's amazing that when you go shopping for a car there is a thick, fully detailed brochure explaining everything from paint finish options to the turning circle. When you look at a property for sale, you normally get a single page brochure. Give as much information as possible to the buyer (keep in mind, some buyers want a lot of information) and who better to give information than the seller?
I'm not talking about technical details or land and room dimensions. What are the practical features to living in the property? Give as much information as you can about why you like your home. Point out the features and improvements you've made. Tell buyers how close your favourite Thai takeaway is. Head it up "Owner Notes" and give it to the agent to type up and hand out to buyers at inspections. It's a powerful tool that really works.

12 POWERFUL NEGOTIATING PRINCIPALS MOST AGENTS DONT'S USE.
Principle 1. Many agents set a firm asking price. This means the buyer will usually begin to negotiate below that limit. We need to remember that there is no recommended retail price on property so who can say what is the highest price a buyer will pay?
An asking price may limit the level of enquiry (normally because it starts too high) and sets a limit. Your chances of negotiating with multiple buyers thus creating competition for your property is severely compromised.
Principle 2. Know how to encourage offers from genuine buyers. It is said that 90% of sales people will nominate a price the owner will sell for when asked as they think it will make the sale. But what normally happens? The buyer will usually offer below the price the agent has nominated. It's at this point that an inexperienced or poorly trained agent can cost you thousands.
Principle 3. Recognise criticism or objections as 'buying signs' from a motivated purchaser. Many agents become intimidated or even offended when a buyer offers a negative comment about a property. An experienced salesperson will be able to identify these comments as a buying sign if that is the case. Many buyers will try to run the value of a property down in order to see what kind of response the salesperson might offer.
Principle 4. Overcome criticism and objections with the right response. Using a question to answer a question is a great sales technique. Let's say the buyer objects to the pink living room. The best response from a salesperson here is; would you buy this property if I had the room repainted to a colour of your liking? This will help identify if the living room colour is the real issue with the buyer.
Principle 5. Use a settlement period as a bargaining point. Convenience is an important factor to many of us. Negotiating a settlement period (this is the date when the buyer takes over actual ownership of the property) might make all the difference to the end result.
Principle 6. Know when to include special conditions to negotiate a sale at the highest possible price. Some buyers might want to have conditions included in their agreement. Not all conditions they want might be warranted, but those that are unlikely to delay a sale could be included if it means a sale at the highest price.
Principle 7. Use chattels, fixtures and fittings as bargaining points. I have known sales to hinge on the potential inclusion of certain items that are not normally sold with the property.
Principle 8. Know how to achieve the best offer when more than one buyer is interested, rather than playing one buyer off against the other which normally results in a lower sale price. This is important feature of the No Limit Selling system. Your local bestagents real estate team can show you how this works.
Principle 9. Most successful sales are negotiated in an environment of trust. How the buyer is handled when they first enquire about the property will influence the outcome. Never underestimate the importance of trust in any negotiating situation.
Principle 10. The use of timing. An eager or inexperienced salesperson can jeopardise a sale by calling a buyer at the wrong time during negotiations. Timing plays an important part. Using it correctly will have a bearing on the end result.
Principle 11. Understand that nothing is ever set in stone. Everything is negotiable.
Principle 12. Most agents centre all their negotiating on price. In many cases price may not be the major issue. There will be other things that can be used in any negotiating situation. A good salesperson keeps their mind open to all possibilities. There are no rules. Expect the unexpected!

3 RULES FOR SELLING PROPERTY ON A MAIN ROAD
Rule 1. Should you sell by auction? The success rate at auction for property on a main road is much less than non-main road property. Also, parking on a main road is always difficult and often dangerous and it will be hard to hear the auctioneer during the auction. Why introduce unnecessary negatives. Speak to your agent and seek their advice.
Rule 2. Use a highly visual sign with a photo where possible. This can attract the attention of oncoming traffic if positioned correctly and remember, the buyer won't have a lot of time to read the copy so a picture will serve to summarise what is on offer. When a buyer responds from a main road sign the seller has just overcome their biggest obstacle.
Rule 3. Look for ways to reduce the negatives. Music will help neutralise excessive traffic noise and doors should be kept closed during an inspection. While this advice might be important, we need to give the buyer some credit. They know where they are and they also know that the home on a busy road will be cheaper than a home in a quiet street around the corner. Most main road sellers are aware of this and keep it in mind during negotiations.

10 REMINDERS WHEN YOU'RE ON THE MARKET
Reminder 1. It's possible you could sell at anytime so be ready for a good offer early. The best buyer may well be someone who is actively looking in your area to buy immediately. Sometimes an owner will reject a good early offer as they think it's a sign of things to come, only to regret it many weeks later when the offer has not been repeated.
Reminder 2. With great respect to friends and family, be very selective with advice you receive. Mostly, it's well meaning but can sometimes lead to costly errors. When you sell, your agent will charge a fee. This fee is mainly for advice. If you trust your agent, be mindful you are paying for advice you receive. It's considered, professional and offered by the person who is in the best position to give it.
Reminder 3. Don't confuse the number of people who look at your property with real buyer interest. Filling your home with 'lookers' at an open house is easy.
Reminder 4. You should be receiving accurate and detailed 'feedback' from your agent following each appointment or open house. If you're not, find out why. Finding the agents business card on your kitchen bench after an inspection really tells you nothing. Your local bestagents team member will fill out a client feedback slip which lets you know how each inspection went.
Reminder 5. A high number of 'no shows' or late cancellations from buyers means your agent is not qualifying the buyers before the appointment and not confirming appointments the day before.
Reminder 6. If your agent is receiving buyer enquiry for your property but these enquiries are not becoming inspections, your price is too high.
Reminder 7. If real buyers are inspecting your home but you're not receiving any offers, your price is probably still too high.
Reminder 8. Many sellers believe they must keep their price high because the buyer will always offer much less. But this is not so. There is no formula used by buyers when they decide to buy your property. The amount they offer will depend on the number of similar properties for sale in your area, how they perceive the value of your property and the negotiation skills of your agent.
Reminder 9. You may choose to consider using a price range or guide to create a value of perception. This will increase inspections and increase your chances of an offer in less time.
Reminder 10. When you list your property for sale, you expect someone will fall in love with it the same way you did. But this doesn't always happen quickly. Keep in mind the number of homes you looked at before you bought.

From How to sell your home for more (and buy your next for less) Ray Wood



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