‍What to Watch for When Selling a House on the Gold Coast

Selling a home on the Gold Coast, or anywhere for that matter, can be a complicated process full of emotions and unexpected hurdles. This comprehensive guide aims to provide you with ten key points to consider, helping to ensure a smooth and successful property sale.

1. Getting Emotional

Selling a home, especially one where you’ve raised a family or made memories, can bring up a mixture of emotions. It’s important to manage these emotions effectively in order to make informed decisions during the sale.

How to Manage Emotions

• Talk about it: Share your feelings with a trusted friend or family member. They can offer a different perspective and emotional support.
• Put the sale first: Try to keep your feelings separate from the transaction. Focus on the financial aspects and getting the best price for your property.
• Lowball offers: Don’t take lowball offers personally. Remember that buyers are looking for the best deal.

Additional Tips

• Accept your feelings. It’s normal to experience a range of emotions during the process.
• Seek professional help if you need it. Therapists or counsellors can offer strategies for managing your emotions.
• Remember that it’s a new chapter in your life. Selling your house doesn’t mean erasing your memories.

2. Not Hiring Gold Coast Real Estate Agents

The process of selling a home can often be complex and time-consuming. Competent Gold Coast real estate agents can simplify the process and help you get the best price for your property.

Advantages of Hiring Gold Coast Real Estate Agents

• Experience and expertise: Estate agents bring their knowledge and experience to your doorstep. They understand pricing strategies, current market trends and effective staging techniques.
• Marketing and advertising: They have access to various marketing and advertising tools to reach potential buyers.
• Negotiation skills: Agents are expert negotiators who can help you get the best price for your home.
• Convenience: Agents handle all the details of the sale, freeing up your time for other activities.

How to choose a Gold Coast Real Estate Agent

• Interview: Interview several agents before making a decision. Make sure you’re comfortable with their approach and confident in their expertise.
• Contracts: Make sure all agreements are in writing.
• Commission: Real estate agents charge a commission. This is usually a percentage of the sale price of your home, however, in the scheme of things, commission rates can in fact be a red hearing that is easily dismissed through careful consideration.

Using local independent Gold Coast real estate agents is a wise investment, it can help you sell your home quickly and for the Best Possible Price.

3. Setting an Unrealistic Price

One of the most common mistakes and what to watch for when selling a house on the Gold Coast, is setting an unrealistic price for your property. If you price it too high, you are likely to put off buyers and your house will sit on the market for longer.

If you price your property too low, you have the reverse issue, where potential buyers are wondering what’s wrong with the property, as well, you could be leaving money on the table.

How to price your Gold Coast Home

• Get a market analysis from a Gold Coast real estate agent: This will help you determine a fair price for your home based on recent sales in your area.
• Condition of the house: Be realistic about the condition of your property. If repairs are needed, factor these costs into your price.
• Be prepared to negotiate. Buyers are likely to make offers below your asking price. Be prepared to negotiate to get the best possible price for your home.

Here are some additional tips to help you set a realistic price for your home

• Don’t overestimate the value of your home. Just because you love your home doesn’t mean buyers will be willing to pay the same price for it. Be realistic about the value of your home based on the market and the condition of your home.
• Don’t be afraid to price your home competitively. If you price your home too high, it will stay on the market longer and you may end up accepting a lower offer than if you had priced it competitively.
• Get feedback from your Gold Coast real estate agent. A Gold Coast real estate agent can help you set a realistic price for your home based on their knowledge of the market and current sales trends. Listen to their advice that comes from experience.

Remember, setting a realistic price is one of the most important things you can do to sell your home quickly and for the best possible price.

I have a mini-eBrochure that goes into great detail about trying to sell above Market Value.

4. Expecting the Asking Price

While it is absolutely possible, it’s important to be realistic about the price you’ll get for your home. In most instances, buyers will make offers below the asking price; you need to be prepared to negotiate, to get the best possible price for your home.

Here are some tips for negotiating the sale of your home

• Keep your mind open to different offers. Even if you receive an offer below your asking price, don’t reject it out of hand. Consider the offer carefully and be prepared to negotiate.
• Be prepared to compromise. Sometimes you’re unlikely to get your full asking price, so be prepared to compromise on price to get the deal done.
• Be prepared to walk away. If you’re not happy with the offer, be prepared to walk away from the negotiation. This will show the buyer that you’re serious about getting a fair price for your home. However, you also risk losing the deal altogether, which is part of the negotiation process.

It’s important to remember that negotiating the sale of your home is a normal part of the process. Be prepared to negotiate and be willing to compromise to get the best possible price for your home.

5. Selling During Winter

The winter months are typically the slowest for the property market. If you can, it’s best to avoid selling your home at this time of year. However, if you have to sell during the winter, there are a few things you can do to increase your chances of success.

However, if you do have to sell during the winter, here are a few tips

• Price competitively: Buyers may be reluctant to pay top dollar during the winter.
• A warm and inviting atmosphere: Make sure your home is well-lit and inviting.
• Aggressive marketing: Make sure potential buyers know your home is on the market and why it’s a great buy.

6. Not using Quality Listing Photos

Listing photographs are one of the most important marketing tools you have. Buyers are more likely to click on a listing with high-quality photos. Make sure your listing photos are well-lit, professional and show your home in its best light.

How to avoid it:

• Hire a professional photographer to take your listing photos. A professional photographer will know how to take the best possible photos of your home, including wide-angle shots to show the flow of each room, close-ups of special features and exterior shots to highlight your home’s curb appeal.
• Make sure your home is clean and tidy before you photograph it. Remove all personal items and clutter from your home and make sure all surfaces are clean and free of fingerprints.
• Stage your home to make it look its best. This may include rearranging furniture, removing clutter, adding fresh flowers or plants, and opening curtains and blinds to let in natural light.

By following these tips, you can create listing photos that will help you sell your Gold Coast home quickly and for the best possible price.

7. Trying to Ignore Legal Requirements

The legal requirements for selling a house in Australia vary depending on the state or territory in which the property is located. However, there are some general requirements that apply to all sales:

• The seller must provide the buyer with a contract of sale. This contract must contain all the relevant details of the sale, such as the price, completion date and any exclusions.
• The seller must disclose any known defects in the property to the buyer. This includes both major and minor defects.
• The seller must provide the buyer with a vendor’s statement. This statement provides information about the property, such as the title, any encumbrances and any outstanding debts.
• The seller must pay all necessary taxes and fees in connection with the sale.

Here are some tips on how to avoid common legal pitfalls when selling your home in Australia

• Use a conveyancer or solicitor to help you with the sale process. A conveyancer or solicitor can help you understand the legal requirements and prepare the necessary documentation.
• Be honest and open with the buyer about any known defects in the property. Make sure you understand the sale contract before you sign it.
• Pay all necessary taxes and fees on time.

Selling a home can be a complex process, but it doesn’t have to be overwhelming. By following these tips, you can increase your chances of a successful sale.

8. Hiding Major Problems

What to watch for when selling a house on the Gold Coast is, that it’s important to be honest with potential buyers about the condition of your home. If you try to hide major problems, you could be sued by the buyer after the sale. It’s better to be upfront about any problems so that buyers can make an informed decision about whether or not to buy your home.

How to disclose problems when selling your Gold Coast Home

• Home inspection: A home inspection can reveal major problems.
• Transparency: Disclose any known problems to potential buyers.
• Negotiate repairs: Be prepared to negotiate repairs or offer a credit for repairs.

9. Not Preparing for the Sale

Preparing your home for sale can make it more attractive to potential buyers and increase your chances of getting a good price.

How to prepare your Gold Coast home for sale

• Tidy and Clean: Make sure your home is clean, tidy and free of clutter.
• Make minor repairs: Fix any minor problems such as leaky taps or broken light fittings.

Stage your home: Stage your home to make it more attractive.

10. Not Accommodating Buyers

It’s important to be accommodating to buyers when selling your home. This means being flexible with viewings and willing to negotiate. It also means being respectful of buyers’ time and money.

How to avoid it:

• Be flexible with showings. Try to accommodate buyers’ schedules as much as possible.
• Be willing to negotiate. Buyers are likely to make offers below your asking price. Be prepared to negotiate to get the best possible price for your home.
• Be respectful of buyers’ time and money.
• Be honest about the condition of your home.

Here are some additional tips to keep in mind:

• Be patient. It may take some time to find the right buyer for your home.
• Be positive. A positive attitude can go a long way in the selling process.
• Have fun! Make the selling of your home an exciting experience. Enjoy it, you are moving on…

What to watch for when selling a house on the Gold Coast can be a very complex process, but it doesn’t have to be overwhelming. By following the tips above, you can increase your chances of a successful sale.

Author – Craig Douglas

Please Note: The information contained in this document is for general information purposes only and does not constitute legal advice. The laws and regulations governing the sale of property in Queensland are complex and constantly changing. It is important to seek the advice of a qualified property lawyer or conveyancer before making any decisions about the sale of your property. This document does not take into account your individual circumstances and may not apply to your situation. By reading this document you agree that you have not relied on the information contained herein and that you will seek independent legal advice before taking any action.

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Craig Douglas 0418 189 963

Professional | Knowledgeable | Experienced

This page was proudly created by Craig Douglas, your local independent Gold Coast real estate agent, working for a Boutique Real Estate Agency. Selling residential and commercial properties, from those that are awe-inspiring, through to a diamond-in-the-rough, otherwise known as a “renovator’s delight”.

I negotiate and sell on behalf of property owners who want to get the best possible price, with the least amount of hassle. Let’s talk about the process of selling your property over a coffee to get you started – 0418 189 963