What is the role of a real estate agent?
Real estate agents are qualified professionals that can help you sell your property. They are experts in the local and wider property market and provide informed property appraisals. They help guide sellers on the best method of sale and ensure properties are actively promoted and marketed to reach the maximum number of buyers. Real estate agents will assist in the negotiation of property sales and ensure this is done with the utmost confidentiality. Real estate agents work for the property seller and are focused on selling it for the most amount of money.
What is an appraisal, and should I get one done?
A home appraisal is the inspection and assessment of your home by a real estate agent, done with the objective of determining its right of sale price. Unless you are very familiar with the market conditions and the pricing for similar properties in the marketplace, getting your home appraisal done is a good idea. The agent typically bases his pricing assessment on the most recent sales that have taken place in the neighborhood which gives you a clear picture of what buyers may be willing to pay.
What is a sales agency agreement?
A sales agency agreement is a document written to protect your rights. It includes details of the real estate agent who you have assigned to sell your property. It states what they promise to provide for you, along with an estimated sale amount or price range. This arrangement outlines the amount of fees or commission payable by you for the real estate agent’s services.
A commission is usually only due when the sale of the property is completed. The extent of the real estate agent’s authority to act on your behalf – such as to exchange or make changes to a sale contract – is also stipulated within this document. The sales agency agreement usually involves a fixed term, which is a specific amount of time the sales agency agreement cannot be ceased unless accepted by both parties. An open-ended agreement with no fixed term must indicate an alternative method for being brought to an end.
How can I add value to my property?
Simply adding a fresh coat of paint in a modern and neutral colour palette is one of the fastest and easiest ways to add value before you sell. If you have a little more time and budget, renovating is a popular strategy to update a property to appeal to potential buyers.
What is a property stylist and are they worth It?
Property styling or home staging, involves using design techniques to furnish and style a property to improve the appeal to potential buyers. Although there is no promise of return on investment, on average property styling is said to increase the final sale price by 7.5% – 12.5%.
Why is it important to declutter an open house?
Decluttering involves removing personal items as much as possible prior to an open house, in order to help the buyer imagine themselves living in the property. A first impression often lasts, and excessive belongings can make a home seem smaller, darker, and less airy than it really is. Modern homes and décor tastes also tend to lean towards a more sparse presentation, while too much clutter can leave buyers with the sense that finding storage space might be problematic.
Can I sell my property while it is currently leased?
You are able to sell your property while it is being leased, but any potential purchaser must be told there is a current lease in place and that the property will not be sold with vacant possession. The tenant has the right to occupy the residence until the end of the lease term unless both parties negotiate and agree to terminate the existing agreement. In some cases, the fact your property has reliable tenants in place may actually be appealing to prospective investors.