What help do I need selling my home?

The most common way to sell your home is through a real estate agent. You can undertake the sale of your property yourself, but be warned it will require a major commitment of your time and can be costly. There are many regulations governing the sale of a home and the real estate market is in a constant state of flux, so enlisting an expert to promote and manage the sale is generally the safest route.

Actively involving yourself in the sale process will help your agent obtain the best price for your property. Do your research and look into sales prices within your local area, compare similar properties for sale and attend auctions. Get a sense of your property’s unique characteristics and what you can do to enhance its value. Most importantly, find a real estate agent you feel comfortable working with and who understands your needs.

You will also require legal advice to take you through the conveyancing process. Conveyancing refers to the legal work involved in drawing up your contract for sale and mortgage and overseeing the settlement of your property. This can be undertaken by a solicitor or a licensed conveyancer.

It can be useful to enlist a legal advisor early on as they can review the terms of your real estate agent’s agreement, as well as provide important insight into your property’s condition for sale by organising building inspections, valuations and survey reports.

How to find a good real estate agent

Your real estate agent will guide the sales process and impact each selling stage:

• Initially, your agent will help you establish your property’s market value, provide sale price recommendations and suggest whether you should sell privately or head to auction.
• Next, an advertising and marketing strategy will be implemented, your agent will manage inspections and buyer queries and tap into their own buyer network.
• Finally, they will coordinate sale negotiations and oversee the completion of the sale and settlement.

When choosing a real estate agent you should consider their sales pedigree and selling approach:

• Do they understand your local area and possess a strong sales record?
• What fees and commission rate will they charge? Are these negotiable?
• What is their proposed selling strategy and advertising plan for your home?
• How much will promoting your property cost?
• Do you feel a rapport with the agent?

It is worth meeting with a number of agents before you sign an agency agreement. This outlines things like whether it will be an exclusive agreement or whether you list your property with a number of agencies, the scope of their authority and the fee and commission structure.

How to find a good conveyancer

Your licensed conveyancer or legal representative will undertake the conveyancing process, which can include:

• conducting property and title searches to check legal ownership
• organising property inspections, valuations and survey reports
• examining the contract for sale and advising on the conditions
• managing the exchange of contract for sale and attending settlement
• calculating utility and tax obligations at settlement
• examining mortgage agreements
• overseeing the transfer of title on the property.

Licensed conveyancers and solicitors are required to have professional indemnity insurance, which covers you in the event they make a mistake. Other than checking your prospective legal representative’s qualifications and credentials, you should consider their fee structure and just how hands-on they will be in the process.

Often firms charge a fixed conveyancing fee – it is important to know what services are actually included within the quote so you don’t receive any surprises later on. Otherwise, review an itemised fee structure carefully and estimate your anticipated conveyancing requirements. Finally, check if there are any repercussions if your real estate sale falls through.