In a strong property market, real estate is easy to sell and there is no shortage of buyers with deep pockets. However, in a weak property market, the opposite is true and the process of finding a good buyer for your home can be both frustrating and expensive.

To avoid the double whammy of high marketing costs and dwindling offers, many homeowners are taking matters into their own hands by dumping their real estate agents, saving on the commission, and selling their homes themselves.  

A caveat: while selling a home without the benefit of third-party expertise can be pretty straightforward, it can also be potentially confusing and time-consuming. Nevertheless, those with an eye for detail, unlimited patience, and the time to do the job themselves can reap big savings.

Check out these tips if you’re thinking of going down the DIY route:

DIY conveyancing

Before offering the property for sale, a contract must be drafted by a solicitor or qualified conveyancer, unless you do it yourself. If you decide to take the DIY route, there are publications and consumer law associations that can guide you throughout the selling process.

When done correctly, the DIY approach can end up saving you conveyancing fees of up to $1000.  

Maximise the sale price

When choosing the asking price for your property, you need to strike the right balance. The price can’t be too high (which would discourage potential buyers), and neither should it be too low. The aim, clearly, is to maximise the sale price.

Vendors should do their homework and base their asking price on comparable sales (i.e. sold properties of similar size, quality, and location). Such information can be obtained from local councils, the property sections of newspapers, and property research sites.

There are several property research sites which, for a small fee, will list the past sales in your neighbourhood. You can also see what’s on the market at the moment, gauge how long the properties have been there, and determine the asking prices.  

Make your home presentable

Before allowing potential buyers to inspect your home, you’ll need to make it as presentable as possible. You may want to apply some or all of these tips:
  • Put fresh flowers in vases and display them around the house
  • Mow the grass, tidy up the porch, and add some potted plants
  • Clean the windows
  • Turn on the garden lights during night inspections
  • During daytime inspections, open the blinds to allow natural light into your home
  • Keep pets away during inspections
  • Remove any junk or clutter
  • Clean the kitchen and toilets
  • Go the extra mile and brew a pot of coffee, or bake some cookies or fresh bread to make your home more attractive to buyers