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Should you sell your home yourself?

Should you sell your home yourself?

If you’re looking into selling your home, you would have noticed the thousands of dollars in fees it takes to employ the services of an agent.

The alternatives are few and far between, however, as it is a case of either dedicating your own resources to selling the property or forking out the cash.

While innovation in this area is hitting our shores, in the form of UK founded PurpleBricks, who claim they will sell your house for a flat fee of $4,500, for most people it comes down to a choice between employing an agent or going it alone.

If you do decide you have the time and energy to try and sell your property on your own, here are some things to keep in mind:

Weigh up the cost of doing the conveyancing yourself

Selling your home isn’t only about getting the word out and attracting buyers, there’s also the more complex side of the bargain in the form of legal contracts. Making sure that the legal side of selling your home is done correctly is of the utmost important and probably not the best place to skimp on cost if you doubt your capability of pulling it off. Employing a professional to take care of this part of the deal will still cost you a couple of thousand dollars but will certainly put your mind at ease.

Determine the right price

Look around the market to make sure you set your starting price at a good benchmark to begin negotiations. As this is the basis for discussions with potential buyers you will have to find a number that is not too high but that isn’t going to sell your property short either. In the absence of a professional opinion, using property listing sites to see what similar properties in your area have sold for should give you a good idea of where to begin.

Making the property look picture perfect

Here is where you employ every real estate agent cliché in the book to make sure your home looks attractive to potential buyers. Think fresh cut flowers and gleaming bench tops to create the image that this property is somewhere desirable to live in. Minimise clutter around the house and try and evacuate family members and pets before inspections. Just because you are selling the property yourself, it doesn’t mean you can’t present the property professionally.  

Take advantage of online services

Sites like sellingmyhouse.com.au offer to assist in the promotion of your property by helping out with online listings and hard copy promotional materials. For different prices you can purchase packages that include things like a sign to display in front of your home and flyers. It may be worth incurring a cost of around $300 to ensure that the word gets out to potential buyers that your property is up for sale.

In the end, the decision to sell your own home will come down to whether you have the time and inclination to try the process solo. Keep in mind that buyers have come to expect a certain level of professionalism when looking at potential properties and may be put off if your listing appears too different or casual. Emulating a professional approach for a fraction of the price should be the end goal to attract the right buyer for your property.

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