Guide
How To Sell Your Property
What You Need to Know, Including the Different Ways to Sell, When to Sell, Preparing to Sell & The Legal Docs
There’s a lot to take into consideration when you’re planning to sell property: when’s the right time? What’s the best method to sell by? What paperwork do you need? Making mistakes at this stage could cost you a lot of time and money and might even mean your property doesn’t sell at all. Get answers to all of these and more below.
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So, let’s dive in and find out how to sell your property. Feel free to jump ahead to a specific topic below:
When you’re done here, also check out our other guides as knowing how to sell is only one step towards getting the best price for your property. Explore our other guides which cover picking the best agent, understanding real estate agent fees and how to maximise your property value.
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What’s The Best Way To Sell Your Property?
If you want to achieve the highest possible sale price, then you should think about which method of sale will work best for you and your property. You might not have thought too much about which method of sale you want to use to sell your property. There are different methods and they each suit different property types and sale situations.
Sell By Auction
Selling at auction is often great if you’re selling a house on the higher end of the property market – you’re less likely to sell a unit than a house at auction. Doing your research is important because auctions can prove rewarding if you do it right. The cost of selling by auction depends on a few factors but you should budget between 3% to 5% of your expected sale price.
Our guide will explain the auction process as well as tell you more about the fees and costs associated with it.
Sell By Tender
Selling by tender is often used when you’re selling very high value or unique property. It’s a less common method of sale but that doesn’t mean you shouldn’t consider it if your property fits the bill. It doesn’t attract extra costs like auctioning your property does but it is dependent on a highly effective marketing campaign. We’d normally recommend budgeting 1% of your expected final sale price for marketing, but if selling by tender, you might want to consider spending more.
We’ve written a more in-depth guide about selling by tender to explain how it works, what it costs and whether or not it’s right for you.
Sell By Private Treaty
Selling by private treaty is by far the most common way of selling property in Australia, but how much do you know about it? Before you choose to use it, it’s important to know if it’s right for you or whether you’d be better off choosing another method to sell your home. We’ve got an in-depth guide explaining the process and what it’s going to cost. Your real estate agent should also be able to answer all your questions.
For Sale By Owner
Selling your property yourself might seem tempting – after all, you won’t be spending anything on agents. Not everyone is suited to selling their own property and there are a lot of factors to take into account. We’ve got a guide on how to sell your property without an agent, including how much it will likely cost and the pros and cons. We’ve also got a guide which looks at the best ‘for sale by owner’ websites in Australia.
How To Sell Your Unique Property
There are a few situations which make selling property more complex. If you’re trying to sell a deceased estate, a tenanted property or shared property after divorce, we’ve put together guides to help you through the process.
How To Sell A Deceased Estate
After the death of a loved one, the last thing you want to be stressing about it selling their property. Even if you’ve sold property before, selling a deceased estate can be more complex and there are a few more hoops to jump through. We’ve put together a guide about exactly what you’ll need to be able to sell a deceased estate so you don’t have to worry so much.
How To Sell An Investment Property
Selling a property while you have tenants living there is definitely more complex than selling an empty house. It’s important to know your rights when it comes to selling, as well as the rights of the people living there. Our guide looks at both owner’s and tenant’s rights as well as how’s best to sell and how much it will cost.
How To Sell a Property During Divorce
The splitting of property is often one of the hardest parts of a divorce but we’re hoping our comprehensive guide will take some of the stress out of the process. We’ve looked at whether it’s best to split or sell and, if you choose to sell, what’s the best way to go about that.
When’s The Best Time To Sell A Property?
Selling property is a seasonal endeavour, which is important to bear in mind when looking to sell your property. Agents tend to think of spring as being the best time to sell, but that doesn’t mean that there aren’t advantages to selling in other seasons. Our guide to timing of property sale looks at the pros and cons of each season when it comes to selling property so you can make your own decisions.
What Documents Do You Need To Sell?
Contract of Sale
A contract of sale is an essential part of any real estate transaction and as such, it’s important that anyone buying or selling property understands what it is and how you get one. That’s what we’ve explained in our comprehensive guide, which includes how a contract of sale differs between each state in Australia. It is also particularly important at property settlement, which is explained here.
ATO Clearance Certificate
An ATO Clearance certificate is needed if the property you’re selling is worth over $750,000, which covers over half of all property sales in Australia. It proves to the property buyer and the Australian government that the vendor is not a foreign resident and that as such, they don’t have to pay a foreign resident capital gains tax.
Getting a certificate is free and you can do it all online, a process we’ve outlined in our guide to the ATO clearance certificate, as well as including more info on who needs one and when they should apply.
Exclusive Listing Agreement
It’s important to understand the difference between different types of real estate agent agreements so you can decide which is going to work best for your property and your situation. Our guide to real estate agreements goes into detail about the different agreements, what they mean and how you can decide between them.
The exclusive agency listing agreement is just one type of real estate agent agreement. There are also open listing agreements and sole agency agreements. Like with selling methods, different agreements will work for different people and for different properties.
It’s also important to think about the length of your contract with a real estate agent when you’re making decisions about the type of contract you want. You can find more information about choosing agents over at our Best Agent hub.
Preparing A Property For Sale
Now that you’ve decided to sell, picked an agent and signed your contract of sale, it’s time to prepare your property for sale. You might also want to check out our Property Value Hub for tips on how to increase your property value before you sell. Also make sure when preparing your property you consider it from the buyer’s angle. For example they may order a building and pest inspection, which you should be adequately prepared for.
How To Sell Property Fast
Selling fast can depend on a number of factors, including the condition of your property, the time of year and how skilled your real estate agent is. If speed is a factor in your property sale, then we’ve got a comprehensive guide on what you can do and what your agent should do.
If you’re looking to sell your property quickly, the best thing you can do is speak to your agent about it. Once they understand that time is of the essence, then they’ll be able to work out the best plan for selling your home. If you’re looking for a great agent, we can help you shortlist the top contenders in your area today.
Looking To Sell Property?
All of the tips we can give you aren’t going to be helpful if you haven’t got a top real estate agent onside. Finding one to help you sell your property is by far the best tip we can give you about selling.
If you’re thinking about selling soon, get in contact and let our team of top researchers take some of the stress of choosing off your shoulders. You can quickly compare agents and receive a shortlist of local agents so you can start your selling journey with the confidence.
