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Selling your home is a major transaction and you can either do it yourself, or use a real estate agent. Both methods have their pros and cons. You also need to decide whether to sell through private treaty or at auction. When it comes time to sell you home, you also want to make sure it's in the best possible condition. Prospective buyers will be judging your home on some pretty tough criteria. The better prepared you are, the more likely you'll get the price you want.Selling yourself
The trickiest part in selling your home yourself is working out an appropriate price for your house. You may win the battle and lose the war - it's easy to save your agent's fee and sell for too little.Gather as much information as you can about similar sales in the area. Local councils often keep records of home sale prices and you can also pay for a professional valuation. The Home Price Guide from Australian Property Monitors is an excellent aid to valuing your home as you can compare recent sale prices of similar properties in your street or postcode. The publisher of Your Mortgage Magazine, HWW Ltd, owns a half-stake in APM.If the market is rising, you may want to sell by auction. You can hire the services of a qualified auctioneer by contacting the real estate institute in your capital city for details.You will have to open your home for inspections either on call or once or twice a week. You'll also have to organise signs, brochures, publicity, inspections and legals. Make sure you anticipate any questions that potential buyers may ask. Take potential buyers' contact details and always follow them up with a phone call to see if they are interested.Using a real estate agent
If the DIY approach seems all a bit daunting, it's time to choose a real estate agent. The difference between a good agent and bad one can mean thousands of dollars difference on the sale of your property.Like any other industry, there are good, bad and mediocre real estate agents. To help you choose a winner we've assembled a few useful tips.The short list
The first step to selecting an agent is to draw up a rough short list. Ask acquaintances for any recommendations. Look for agents with good track records, who are experienced in selling your type of property and have a good knowledge of the local area.Once you have drawn up the short list it's time to get on the phone and arrange a few 'walk-throughs' your home, which allow the agent to size up your home and you to size up the agent.At the walk-through, be sure to point out all your home's best features as well as its drawbacks. Inform the agent of any relevant information that may impact on the value of your home.Check how long the agent has been in the real estate game. You should also discuss the most appropriate type of sale, whether auction or private treaty and a likely time frame for a sale. The agent should be able to fill you in on various advertising options. They will also be able to tell you about what commission they charge.The agent should be able to tell you how much they think you'll get for the sale. This figure will be based on their market knowledge, but don't take that for granted. Make sure you get them to justify their figure and quiz them about similar sales in the area. Compare the values given to you by different agents. Be very wary of inflated valuation figures and agents telling you what you want to hear. Go to page: 1 2
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