As a copywriter, it's amazing how many people I see who say 'They are just testing the market. If we don't get the price we want, we won't sell.' Enlisting a real estate agent is a very expensive way of 'Testing the Market', as the sales commission is the least of your worries. Today, we are going to find out exactly what other costs are involved when selling your home.
Frank Valentic from Advantage Property Consulting is possibly one of the most recognised faces in Melbourne Real Estate. He is renowned for helping people secure their financial freedom through education and building a portfolio of investments. He is also the buyer's advocate we all know from the hugely successful TV series 'The Block'.
1. So what are the costs we need to consider when selling? Let's start with the non-negotiable.
A) Conveyancing - Contract of Sale & Section 32 needs to be organised with a legal practitioner.
B) Marketing - What can marketing cost and how do we know what's the best marketing strategy for our property?
2. Then there are the should do's:
A) Renovations and repairs - What essentials should we consider before putting the house on the market?
B) Styling - Most Real estate agents will engage a stylist to present it well or if it's with your own furniture and accessories - the cost for a stylist to come in and to move everything out of your home and set it up as a display home.
C) Other costs - Storage Rental, Living away from your home during the sale etc. What other costs?
D) What would it cost me to get a vendor advocate involved?
E) How can the method of sale change the cost of the sale?
3. And when it's sold, you have the sales commission.
Frank Valentic's Guide to knowing how to make the most out of the cost of selling:
1. If my house was presentation perfect and I didn't need to go through the cost of renovations and repairs, what percentage of the expected sale price should I expect to spend on selling the property?
2. If I spent $50,000 on renovations and repairs, what return should I expect to get, compared with my agent's initial assessment?
3. Do you recommend a seller to provide any value added information, would that be beneficial to help the sale, and in turn get a better sale price?
4. Are there any other big tips you would like to pass onto Real Estate Right Listeners?
Frank can be contacted by calling Advantage Property Consulting: (03) 9883 8900
or by email: buyer@advantageproperty.com.au
Need Copywriting?
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Ep86 - Town Taster - Heatherton
Ep85 - Matt Srama - Melbourne Buyers Looking for the Queensland Ray of Sunshine
Ep84: Ash Marton - Understanding the Statement of Information
Ep83: Andrew Butler - Sewerage vs Septic: Know Which Suburbs Still Have Septic When Buying a Property
Ep82: Zhi Goh - Vacate Cleaning - What's the Best Way to Get Your Bond Back
Ep81 - Town Taster- Fitzroy
Ep80: Sophie Lyon - Signing a Tenancy Agreement - What to Look Out For
Ep79: Frank Valentic - Signing An Exclusive Sales/Auction Authority - What to Look Out For
Ep78: Nello Traficante - Using the Equity in Your Home to Buy an Investment Property
Ep77: Angelo Soldatos - It's Just a Board - Things We Need to Know When Putting Up a Board
Ep76: Kiani Mills - What Type of Deposit Can You Use to Buy a Property?
Ep75: Town Taster - Heathmont
Ep74: Nicole Jacobs - Choosing the Right Vendor Advocate for You
Ep73: Evan Davis - The Difference Between a Bank and a Mortgage Broker
Ep 72: Bill Pastou - The Importance of a Pre-Purchase Building Inspection
Ep71: Josh Summers - Flipping Properties
Ep70: Town Taster - Point Cook
EP69: Sophie Lyon - Residential Tenancy Bonds - What's the Procedure from Start to Finish
Ep68: Kiani Mills - Stamp Duty Concessions
Ep67: Frank Valentic - Top 10 Questions You Should Ask Your Agent When Buying Property
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