As we head into a new year, many people who have a focus on productivity and efficiency are pulling out their calendars and planning the next twelve months.
It may seem extreme but setting aside time for family and friends, and even booking all your hair appointments in advance can take the stress out of staying organised.
If you’re thinking of selling this year, one thing to plan out is the timeline for your sale. There is a lot to do before that listing goes live on Domain or realestate.com.au. Mapping it out can help you feel more in control and less overwhelmed.
Here is a sample timeline for someone with the new year’s resolution of selling their Mosman home.
January: Invite valuations
Once you have decided to sell, invite Mosman real estate agents for initial discussions. Find three reputable local agents who have good track records and ask them to visit your home.
These professionals will take a look at your property and give you an indication of what it may be worth (they may also come back to you with a formal report).
If the estimates vary wildly, ask each professional to justify their valuation. They should be able to supply evidence beyond a hunch to prove the figure they have arrived at.
During this time, you may also wish to visit a few open homes in your area to get an idea of your competition.
Advice from an agent: Be wary of estimates which far exceed others without good reason. The agent may be pitching too high just to get your listing.
February: Make a plan
Sit down with the agent you have chosen and discuss a strategy for your home sale. Discuss a public or private sale and go over the benefits of auction versus private treaty. Talk about your marketing campaign and whether it will include an international audience.
Your agent will also let you know if your home needs repairs or upgrades. They can put you in touch with reliable tradespeople who will get the job done.
Advice from an agent: Ask lots of questions during this phase so you understand the process for selling your home.
March/April: Proper preparation
Unless your home is sale ready, use these months to prepare it for sale. This includes decluttering, cleaning, repairs and upgrades.
You may also need to get some documentation together during this time, such as pool safety certificates, building inspections, pest control reports and other official paperwork (your agent will let you know what they need).
This is also a good time to speak with your mortgage broker or financial planner about your next steps. You may need to plan a bridging loan if you’re looking to buy before you sell.
Advice from an agent: March/April are good times to spend working on your property. With Term One ending and the school holiday break taking place in April, many buyers are likely to be away from Sydney.
May/June: Expressions of interest
This is where your timeline may change, depending on your home, your goals and the urgency of your sale.
The tail end of autumn is a good time for expressions of interest. Buyers who have so far missed out between the start of the year and now will be motivated to make an offer before winter.
You may wish to go ahead with a private/confidential property listing. In this case, your Mosman real estate agent will reach out to their database and let them know your home is available for viewing.
Early inspections may lead to an offer you are happy with, meaning you can skip the auction process and negotiate the price and settlement terms.
Advice from an agent: Choose a Mosman real estate who is well connected both locally and overseas. The more contacts they have, the more opportunity there is to generate competition between buyers.
July/August: Winter sale
A winter sale can make sense if you are in a hurry. Often there is not a lot of other stock on the market so your property will stand out. You can also attract the attention of expats who are home during the northern hemisphere summer break.
Advice from an agent: Talk to a property professional about the current market and whether or not there is enough demand to go ahead with a winter listing.
September/October: Start your campaign and sell
If you haven’t already done so, now is the time to list your property. For an auction, your agent will recommend a period of six to ten weeks to highlight your home to the market and give buyers time to prepare their finances.
During this time, keep your home clean and well presented. Discuss a strategy for early offers and decide what will happen if someone comes up with a strong price prior to auction.
Talk about auction day so you have a plan B in the event of bids not reaching the reserve.
Thanks to all your hard work and preparation, you should be saying ‘Sold’ after a short campaign.
Advice from an agent: Your agent should be in constant contact during the sales campaign period to let you know what people think of your home and give you a clearer idea of the price you can expect.
Of course, this timeline is a basic example. You may wish to sell in a much shorter time frame, or you may need more time to prepare your home for sale. Talk to your agent about the timeline that is right for you. They will help you plan your Mosman home sale strategy accordingly.
