There probably aren’t too many people who rush into selling their homes without giving it much thought. But even so - it can be some of the most simple things that homeowners forget to consider before they put up the ‘For Sale’ sign. Make sure you do your due diligence by taking care of the six points below.   

Understand the current marketplace

This is particularly important if you haven’t had to glance at the property market for many years - you really should get a good understanding of what is actually happening out there for homeowners. Is a buyers market, or are sellers doing well? And closer to home, what have houses been selling for in your neighbourhood?

It is worth attending a few open homes, and overseeing some auctions too if possible, just to get an overall feeling of where your property may be sitting. This will help you to decide whether you may need to do some updating, or if you will be able to pass it on as a desirable ‘doer-upper’, so that people can stamp their own mark on it.  

Consider which agency you will use

Have a think about who you might like to have represent your property. And this isn’t a decision you need to rush into, so do your research on agents in the local area/read recommendations, and perhaps even ‘meet’ them at an open home or two, so you can get a feel for the way they work.

You’ll want to choose someone who has a good marketing presence - both online and off - so do some browsing on their website, real estate advertising platforms, and check out their agency representation in the streets around you. Don’t forget to have a look at the window of their office either to make sure they know how to take a good photo, and market properties in the best way possible.  

How do you want to sell your home?

There are plenty of different options when it comes to the way you sell your home - from auctions to fixed price offers and private treaties - and although you won’t need to make a final decision before discussing it with your agent, it is still a good idea to understand what each option entails. For example, if you want to sell at auction, this will require a typically short, busy campaign of around a month - you will need to be prepared for a flurry of activity. But in a quieter marketplace, offers over may be a better way to get interest from individual buyers.

Read more: Why are there so many 'prices' when selling your home? 

Is it the most convenient time?

Selling a home is time-consuming at best. From always needing to have your property ‘viewing ready’, to making significant decisions, tidying and decluttering, maintenance, renovations (if need be), all while still trying to live your day-to-day life. That’s why it is really important to ensure you are ready and available to have a house on the market.

If you are changing jobs, having a baby, the kids are starting a new school, or you have business pressures taking up your time, then it may be worth considering whether it really is the most convenient time to sell up. Of course life always has its ups and downs, and some are unexpected, but it is a good idea to have a realistic view of what it will take to manage having a property for sale.

Also consider your motivators for moving - if they aren’t significantly important right now, then you may not really want to put in the effort to have your home ‘sale ready’. And you could also waste plenty of time just rejecting any offer that comes your way, because you feel rather nonchalant about the whole idea of shifting house.    

How are your finances looking?

It’s definitely worthwhile taking a trip to see your mortgage broker/bank manager, just to see where things are at with your current home loan. This will help to give you an overall view of your current financial situation, and what equity you have in order to move onto a new property. If you are unable to buy back into the market you’re in - will you still want to sell?

It is important to also know what finances you have available as it will have a direct impact on what you will ‘need’ from the sale of your home. Perhaps there is a minimum required in order to be able to move on to your next property. Of course this doesn’t mean you will get it, but it certainly helps when it comes to negotiations, and looking for a new home.

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