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A Sellers’ Market: Top Tips on Selling your Home from Seasoned Experts
Buyer beware
Strong demand and poor supply in the housing market right now means it’s a sellers’ market out there! This, combined with the fact that house prices are rising dramatically again, makes it generally a good time to go to market with your residential property.
Whether looking to cash in on a rental property owned, down-sizing, or trading up, it is important to make sure that you don’t undersell your prized property. Doing your homework beforehand, and finding the right advisors will ensure property owners get the best return on their sale, according to Sindy Broe, Managing Director of Broe Auctioneers in Clondalkin, West Dublin.
“The market for good homes in commuter areas is being strongly fuelled by newly funded buyers, and prices are rising practically everywhere, as growing numbers chase a scarce supply of suitable housing. This is the time to capitalise on a property asset, but those selling also need to make sure they’re getting the best possible deal”, Sindy Broe says.
Don’t Sell It Short!
When it comes to homework for home vendors, Broe Auctioneers advise the following approach. Ask the following questions and talk to a number of different estate agents, ideally getting recommendations from other people who have sold in the local area;
HOW MUCH WILL YOU CHARGE?
Dublin Estate Agents normally charge between 1% - 2% of the sale value, plus VAT.
ARE THERE ANY OTHER COSTS? There may be extra charges on top of the sale commission which would include advertisement fees for websites, brochures, the “For Sale” board and newspaper advertising. Other charges to factor in when selling or letting a property is a BER (Building Energy Rating) Report.
HOW WILL YOU MARKET MY HOME? Your property should have the maximum advertising support; after all it may well be one of the most high value transactions in your life. Give it the best marketing support to get the best price, including the “For Sale” board, top websites (myhome.ie, daft.ie etc.), good professional photos and a brochure.
WHICH WEBSITES WILL MY HOME BE ADVERTISED ON? All Estate Agents will advertise your property on their own website along with the most popular property ones; myhome.ie, daft.ie, onview.ie, and property.ie. Facebook and Twitter should also be used to give your property an extra edge.
WHAT IS THE CURRENT MARKET LIKE FOR SALES? Ask this question in relation to your area. Due to the lack of properties, there is strong demand in Dublin, on the East coast, and in commuter areas of the major cities. It is generally an excellent time to sell, with high buyer demand.
WHAT TIMEFRAME WILL IT TAKE TO SELL MY PROPERTY? With the current supply and demand crisis, good properties are now selling very fast, due to the high demand in city and commuter areas.
CAN I WITHDRAW MY PROPERTY AT ANY TIME, OR AM I TIED INTO A CONTRACT? All Estate Agents will require a Property Service Agreement to be signed, which will highlight their service and fees. Estate Agents contracts normally state ‘Sole Agency’ with no timeframe, so you can still sell with another agent if you want to. But it’s an important question to ask!
AM I MADE AWARE OF ALL OFFERS THROUGHOUT THE SALE? Yes should be the answer here! Estate Agents must keep you informed, and every name, number and bid is logged.
WILL I GET FEEDBACK FROM EVERY VIEWING? Estate Agents must give you feedback after each viewing, whether it’s positive or negative. A good Estate Agent will keep you updated right through the process, and advise on opportunities to best present your home for sale.
ARE YOU A MEMBER OF ANY REGULATED BODY? Make sure your Estate Agent is regulated and a member of a professional body such as IPAV or Chartered Surveyors Ireland. They are obliged under the terms of their membership to hold a current licence and must abide by a code of practice.
As with any transaction, the more research you do and questions you ask, the better the likely outcome of your house sale, Craig Leap of Broe Auctioneers says.
“Drive around your area and check out who is selling homes close to where you live. Be nosy and ask sellers how they find their estate agent; all will happily tell you. Importantly, always compare estate agent commissions and charges, and set expectation as to what value you want to achieve”, the real estate expert adds.
Broe Auctioneers Clondalkin
Over 40 years in business, Broe Auctioneers in Clondalkin village in Dublin has a highly experienced team of professionals that seamlessly manage residential and commercial property sales and letting.
For further information, please contact:
Samantha Kelly, The Tweeting Goddess, Tel: 086-1688743
