Selling

At Grantham, we want the selling experience to be a great one.

We understand the challenges, the timing and the nuances that surround your decision to sell, so our process revloves around you.

Of course, we have the tools, experience, resources and strategies to guide you through the journey, that's why we're the experts. But you need to feel confident and secure that we are on the same page. After all, this is a partnership, and your success is our success too!

This is why our relationships with clients last long after the close of the sale, and why building that community is our driving passion.

Selling Methods

We talk about being different, and that's what we strive to be.

GRE's approach is all about connection. We're the conduit, the facilitator, bringing buyer and seller together. If anything, we're match-makers, and that means working hard to get to know you and what you're looking for.

Being part of the community, we want to maximise the positive impact we can have. We want to inspire, engage and support out clients, and create positive outcomes for everyone.

GRE 'Smart Sale'

Not all approaches are the same.

GRE dares to be different, so we have brought together the some of the best elements of private sales and auctions, bringing a new balance to buying and selling.

Our "Set Date Auctions" approach offers the discretion of a private campaign, while drawing on the urgency and competition associated with an auction.

This type of campaign will typically run for a period of 21 days, with a specified closing date for the submission of highest offers. The method allows for negotiation with a number of parties, and even the possibility of a sale prior to the closing date. This is a great way for vendors looking for more control, discretion and of coarse the highest possible price to take their properties to market.

Auction (Selling)

Selling by auction or private sale is a highly debated topic in the real estate industry.  Whilst many would argue that auctions are the best way to secure the highest sale price for your property given the competitive nature of buyers on the day, others believe the personal connection in a private sale is the way to go.

Auction Benefits

Sense of Urgency: Auctions often generate a sense of urgency amongst buyers. This is because there is a set 'end date' for the sale and this effectively compels potential buyers to make a decision on the day so as to not miss the opportunity.

Buyer Competition: The in-the-moment competitive bidding amongst potential buyers means that the selling price often exceeds the expected value of the property which can maximise the sale price for the seller.

Reserve Price Protection: An auction provides sellers with protection in the form of a reserve price. This means that your property will not sell unless bidding reaches a pre-agreed level.  There is also no ceiling price, so you have the opportunity to achieve a price well above your expectations especially if there is a competitive crowd.

Set Terms: Auctions are suited to situations where the owner wants an unconditional sale (no cooling off at auction) or wishes to set specific terms of sale, such as settlement terms to suit the vendor.

Auction Limitations

CostThere may be additional costs involved to sell a property via an auction, this is to cover the cost of hiring a specialist auctioneer.  It is important to discuss and compare the costs to sell via auction or private sale with your agent.

Sales Evidence:For properties where there is ample accurate sales evidence of market price, an auction may not be the best way of selling.  For example, for a large block of identical units which are all of a similar specification where everyone would be aware of the sale price of other units, a private sale may result in a higher sale price.

Special Conditions of Sale: Auctions are not suited to buyers who wish to purchase subject to finance as often bids are unconditional. This significantly limits the potential number of buyers that your property could appeal to.

Auction

On the day of the auction

  • Arrive early so you have the time to have one last look at the property and the documents. The agent is required by law to display the documentation about the property at least 30 minutes prior to the auction.
  • In most states, buyers have to register with the agent and show a piece of ID to be allowed to bid.
  • If you can't make it or are too nervous to participate, somebody can bid on your behalf.

The auction

  • The auctioneer will start by announcing the laws and rules of the auction.
  • They will then ask for an opening bid and decide the amount by which the bid will rise. If the auctioneer picks, for example, $5000 increments, it's still possible to make smaller bids, but they are allowed to refuse them.
  • Please note that it is illegal to make dummy bids in order to raise the offers.
  • Once the reserve is met (the minimum price at which the vendor will sell), the property is considered to be "on the market" and will go to the higest bidder. The auctioneer will yell "sold" when the auction ends.

After the auction

  • If you win the auction, you will then need to sign a contract immediately and pay the deposit (usually 10% of the purchase price) shortly after. There is no cooling-off period so you can't go back on the deal. The balance is paid on the settlement date (around one to three months after the sale).
  • If the reserve, is not met and the vendor chooses not to sell at auction, the highest bidder has priority to negotiate with the vendor.
  • If you don't win the auction, don't stress, it can often take many attempts to find the right home within your budget.

Property Presentation

It is important to present your property at its best. You want to make an impact, but in the right way, and often this means more is less. Grantham Real Estate has a team of experts, including stylists, gardners and tradespeople, who can help get your home sale ready.

It doesn't have to be complicated, so here are few presentation tips to get you moving...

  1. Clean your property thoroughly from top to bottom, inside and out. Remove any clutter to help open a living area and show the true size and space.
  2. Fix and repair any maintenance issues, this indicates ongoing care that the home is well looked after.
  3. Neutral styling is safe. This doesn’t mean go out and purchase new furniture and decor, simply put away any bold or ‘out there’ pieces that may control a room’s ambiance. Remember everyone has different tastes and you need to make it easy potential buyers to imagine themselves in the space.
  4. Plants and vases add a homely feel whilst paintings and mirrors help fill blank wall space. You could consider appointing an interior designer to view your property and provide decor tips to ensure your home looks its best when hitting the market. You can even hire pieces to create a fresh feel and add more visual appeal.
  5. If it’s cold, light fires, turn on patio heaters and internal heating. Vice versa if it’s hot, turn on fans and cooling systems. Ensure the temperature is comfortable for buyer.
  6. Don’t forget the garden. Mow the lawns and pull the weeds. Even kay some new mulch and trim back plants to create a greater sense of space.

Request Appraisal

When it comes to real estate, there are two terms which are often used interchangeably to describe the estimated value of a property: appraisal and valuation. Many people may not be aware of the difference between the two, but it’s important understand the distinction before you enter commit to a price.

Real estate appraisal

A real estate agent typically provides an appraisal, which is an informal valuation. The agent will judge the price that the property may fetch based on market conditions and other factors. This report provides u a ballpark estimate before you go further.

These appraisals are often used as price guides for buyers. However, depending on the market conditions, the property may sell for more. Whether you’re planning to sell or buy a house, an appraisal can be a useful starting point.

Real estate agencies usually offer this as a free service. Since market values fluctuate, an appraisal given today may not apply in a few weeks or months. It's important to compare the property to similar properties in the same area that have sold within the last three to six months.

Since no two properties are the same, an assessment is a rough estimate based on the information available at the time. Real estate agents who are familiar with recent property transactions would be able to predict a possible selling price by analysing recent comparative sales.

Real estate valuation

A real estate evaluation is different from an appraisal as it’s a detailed report about a specific property. Only a trained and certified valuer may perform a structured valuation. This ensures that all features and issues relating to the property are considered. It also helps the seller, buyer and lender, get a clear picture of the property and arrive at a price based on a thorough evaluation.

During a real estate evaluation, a thorough examination of the property is conducted. This will include verifying the number of rooms and the size of the land, describing environmental and business risks, and analysing the current state of the property.

The valuer will include details of the recent sale prices of comparable properties. Any problems discovered during the property inspection or other searches will also be listed in detail. Post valuation, the client, usually the property’s owner, will receive a written report outlining the property's value. There will also often be a fee involved in getting a real estate evaluation due to the complexity and detail involved.

Why is a valuation more important?

A property valuation is a detailed report on the market value of a property. It varies from an appraisal in that it establishes a more precise and widely accepted property value. Since the process requires expertise, a formal valuation can only be performed by a certified valuer in some Australian states. Real estate valuations are important because they are a figure based on a thorough study. You may need one when you’re buying or selling a home, applying for a home loan, determining the value of a deceased estate, or settling a dispute over a property.

The valuation is credible and will hold up in court if you hire a competent and professional valuer. The main difference between a real estate appraisal and evaluation is that the latter is a diligent report created by a qualified professional and accepted by lenders and authorities.

Seller Resources

At Grantham, we want the selling experience to be a great one.

We understand the challenges, the timing and the nuances that surround your decision to sell, so our process revolves around you.

Of course, we have the tools, experience, resources and strategies to guide you through the journey, that’s why we’re the experts. But you need to feel confident and secure that we are on the same page. After all, this is a partnership, and your success is our success too!

This is why our relationships with clients last long after the close of the sale, and why building that community is our driving passion.

Simplifying the Selling Process

Selling your home is a complex, multi-step process that calls for the expertise of a Real Estate Agent. There are many things you’ll need to consider, and to help you through it, here’s a general overview on what to expect and prepare.

Get Your Finances in Order

  • Don’t worry if you’re still paying off your mortgage, there are several options depending on what type of mortgage you have. However, you’ll need to talk to your lender before you can proceed.

Meet With an Agent

  • It’s important to partner with a Real Estate Agent you feel completely comfortable with. Don’t fall for the trap of partnering with the first Agent who suggests the highest asking price. Shop around and look for a connection. A good Agent can help you price your home to sell, answer questions like “when is a good time to sell?” and has in-depth knowledge of the market.
  • Start your search for a reputable Agent by looking for a local presence and expertise. Family and friends are a great source of intel to help narrow the field, so reach out for referrals. Contact local real estate offices and pay attention to advertisements and For Sale signs as an indicator of local activity and influence.

Listing Your Home

  • Pricing your home too low or too high is counter productive. Setting a fair price will attract more potential buyers and give your home more exposure to potential buyers. Your Agent can explain to you the multitude of factors influencing pricing, including competitive pricing, current market stats, and of course the estimated value of your home.

Marketing And Promotion

  • The next step will be to sign a Listing Agreement, which gives your Agent permission to post your property. They’ll then begin marketing your home through a variety of mediums, both digital and traditional that your property is on the market. Your Agent can also help you prepare your home for staging.

Closing

  • After the hard work of marketing and promoting your home pays off, you’ll hopefully have a few offers on the table. Once you’ve accepted an offer, your seller will want to conduct a home inspection and (potentially) negotiate the cost of any repairs. Finally, Agent and conveyancer will walk you through the paperwork and therlegal bits needed to close.
  • Congratulations! With the sale of your home complete, it’s time for the next phase of your journey!

A few selling tips

BE informed – set a PRICE based on the local market and WHAT YOU “NEED” TO in order to move onto you next home

Don’t overprice. Too many times a seller takes the stance that, “if we price it that low, we won’t have the money to buy a new house” or, “we need to get X amount of dollars because well, we just need to.”

What a seller needs from the sale and what a home is actually worth in the market are not necessarily the same thing. We would all love to make a fortune off a sale and retire, but you need to price your home according to your local market as of right now. To price your house correctly, look at comparable sales. “Comps” are those sales closest in time (no more than three months’ old is ideal), closest in size/amenities, and closest in distance. Then, listen to the advice from Agents viewing your home with their clients.

Remember, the Buyers are the market and the market dictates what your home will sell for. The less potential buyers coming through your showings indicates the more over-priced you are. The sooner you adjust your price to reflect the market value, the more likely you are to get maximum results. The longer you wait to appropriately price your home, the less likely you are to achieve profits in either a good OR declining market. If you owe more on the house than it’s worth, you may need to consider a “short sale.”

DON’t ASSUME THAT THE CONDITION OF YOUR HOME DOESN’T MATTER.

It is tempting to think that buyers will see past your home’s defects, which are likely very minor. However, chances are they can’t, and they won’t. Buyers these days are more informed. The proliferation of home renovation shows, visiting open houses, and trawling the internet give them a sometimes-unrealistic expectation of what their funds will provide them. You are not just competing with other homes on the market, but also the aspirations and expectations of those buyers, so please do what you can before it's offered to the public to make sure your home delights. Not wanting to invest the money is understandable, but trust us, it’s worth it.

Never REFUSE TO WORK WITH OFFERS.

As a seller you may receive offers that you think are too low. Don’t get upset, as you are probably right, they are too low. But of the many reasons for not working with an offer, like “We haven’t been on the market long enough” and “Those buyers don’t realize how nice this house is,” etc, if the buyers really weren’t interested in your home, they wouldn't have placed an offer. They too want a good deal and are probably willing to negotiate. Don't dismiss their offer so quickly, even in an accelerating market. You’ll never know what that offer can work into unless you submit a counter-offer, or two, or five. Be proud of your home and the work that you have put into it, but please try to not let your pride get in the way of a negotiation that may go much better than you initially think. Work with all offers that come your way and see where they go!

It's about what makes us different

“Your home should about enriching the daily experience.” - Kevin McCloud

“Architecture is really about well-being. I think that people want to feel good in a space … On the one hand it's about shelter, but it's also about pleasure.” - Zaha Hadid, Architect

“The home should be the treasure chest of living.” - Le Corbusier, Architect

“Some look for a beautiful place, others make a place beautiful.” – Hazrat Inayat Khan, Philospher

“A room should feel collected…not decorated.” – Albert Hadley, Interior Designer

“Your home should tell the story of who you are and a collection of what you love.” – Nate Berkus, Interior Designer