Property Selling Advice & Process


Selling Advice

Auctions are an extremely effective way of marketing. This option gives the seller the greatest opportunity to obtain a premium or a fair market value. They create buyer competition by putting buyer against buyer and provides an open and fair arena for competition on the auction day. Auction provides a structure to the listing process, and is regarded as the premium choice of marketing. Should an auction listing not sell during the auction programme, you will have increased your chances to sell the property as an exclusive (price by negotiation or fixed price) due to the enquiry and buyer activity generated.

What is an auction?

An auction is an open process at which buyers bid against each other to purchase a property. Once the reserve price is reached, the highest bidder becomes the successful buyer.

Should I sell my property by auction?

Auctions can be seen as the best way to sell quickly or achieve a higher price, as the auction process creates a sense of urgency and a feeling of competition between potential buyers.
This may or may not be the case and will depend on the property market at the time, how many similar properties are available to potential buyers and how desirable your own property is. Be aware that an auction does not guarantee that someone will offer to buy your property.

The Selling Process

1. Contact a Sales Consultant
2. The Sales Consultant will make a time to view the property.
3.The Sales Consultant will introduce you to the Harcourts Promise of Service

The sales consultant will ask you questions to find out about you and your particular situation and requirements. They will go over the various methods of sale available to you and your marketing options. As a full service agent they will cover off all the industry requirements and full disclosure obligations required by the legislation they operate under. Once the property is listed you will receive the Harcourts Promise of Service. This includes a written marketing plan, post inspection feedback, weekly written marketing report, 21 day marketing review meetings and all offers will be presented in writing.

Buyer Activity
Buyer enquiry and inspections will be at their highest when your property first enters the market. Current prospective buyers will always be quick to view a new listing. Most buyers look at, on average, 14 properties before they buy. Rest assured Harcourts will be staying in regular contact with all potential buyers for your property.

Early offers
When a buyer has viewed several properties they often act quite quickly once they find a home that appeals to them the most. This can often lead to a keen buyer presenting an offer early to avoid ‘missing out’. We would recommend you consider any early offers seriously.

Open homes
Buyers purchase with emotion rather than with logic. To enable Harcourts to encourage a potential buyer to take emotional ownership of your property, we recommend you are not present in the property during open homes. Rest assured we will maintain the security of your property and possessions at all times. Group viewing at open home times will allow you to prepare the property to be seen at its best.

Weekly meetings
Communication between you and the sales consultant is essential throughout the selling process. The role of the salesperson is to be the messenger from the market and to report all feedback to you. In this way, when you get an offer on your property, you will be able to make an informed decision.

Contract of sale
The sales consultant will follow any contract of sale through to settlement date, staying in communication with both the buyer and yourself. Be assured they will continue to market your property if the contract has conditions waiting to be met, for example “subject to finance approval?”. Marketing for a buyer will only stop when the property is legally sold.

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