A Step-by-Step Guide to Selling Your House in Australia

-by A. Scott

Selling a house in Australia involves several steps to ensure a smooth and successful transaction, which is why we’ve put together this step-by-step guide to selling your house.

A quick note before we dive in: – Sometimes you can do multiple steps in parallel, and at other times you’ll need to go through them in a linear fashion. So essentially the order and how you move through it is up to you and your situation. Alright, here we go:

Determine your selling goals: A great place to start in your selling journey is to begin by clarify your motivations for selling and set your goals. Why are you selling?? It’s a simple question, but the answer will direct much of how you go about selling your property. When you take a look at your motivations, it will inevitably lead you towards factors such as timing (“I need it sold by… date”), desired sale price (“we need …. to break even”), and any specific requirements or preferences you have for the transaction.

Prepare your house for sale: Once you’ve figured out why you’re selling, the process of preparing your house for sale begins. You can start getting your house market-ready by decluttering, deep cleaning, and making necessary repairs. Depending on what trades and work your property requires, this could take some time. You can also enhance curb appeal by improving the exterior, landscaping, and staging key areas of the interior to attract potential buyers.

Preparing your house for sale, including de-cluttering and removing rubbish, is an important part of the process.

Set the right price: Have a think about what YOU (not the Agent) think your property is worth, and try to be objective in doing so. Research the local market and when you’re ready consult with a real estate agent or appraiser to determine an appropriate listing price. Consider factors such as recent comparable sales, market conditions, and the unique features of your property.

Choose a real estate agent: You’ll need to decide if you want to work with a real estate agent or sell the property on your own (FSBO). If you opt for an agent, interview several agents, review their track record, and select one who has expertise in your area and understands your selling goals. Or better yet, you can use an App such as bRight Agent to compare agents and also get them to lower their commission and other fees in the process. Remember, you need to be in control – even if you employ an agent.

Market your property: Develop a comprehensive marketing plan to promote your house. Most agents can help you out with this, but you should have your own marketing goals in mind too. Utilise professional photography, virtual tours, and well-crafted descriptions. Advertise online, use social media platforms, and explore traditional marketing channels to reach potential buyers, but remember not to elect or pay for services that your target buyer is not using.

Show your house to potential buyers: Schedule showings and open houses to allow interested buyers to view your property. You’ll want to present the house in its best condition, answer questions, and provide relevant information to help buyers make informed decisions. If the agent is showing your house, ensure it is clean and tidy before each showing and also make sure any pets are secured or taken with you whilst you leave the house.

Negotiate offers: Not the excitement (and hopefully not too much anxiousness) starts! Evaluate and negotiate offers received from potential buyers, and consider factors such as price, contingencies, financing, and desired closing dates. Work closely with your real estate agent or attorney to navigate the negotiation process and secure the best terms for YOU.

Conduct inspections and address contingencies: Once you’ve accepted an offer, the buyer may request a home inspection. Address any necessary repairs or issues identified during the inspection period. Negotiate repairs or credits with the buyer as needed.

Prepare for closing: Work with your solicitor, conveyancer or closing agent to gather the necessary paperwork and complete any required legal documentation (some of this will be drafted in advance of the sale). Address any outstanding financial obligations related to the property, such as paying off liens or outstanding mortgages. Your bank should/will help with this as chances are the bank will be holding the actual deed for your property.

Close the sale: The closing is where legal documents are signed, funds are exchanged, and ownership is transferred. These days, as long as you’ve signed all of the correct paperwork, most closing is done via electronic means between the banks and solicitor/conveyancer. You’ll need to have reviewed all closing documents carefully to minimise the risk of surprises.

Hand over the keys!: Once the sale is complete, you’ll need to provide the buyer with the keys to the property (via the Agent). Before you do so, remove your personal belongings, and complete any agreed-upon final cleaning. Handing over the keys will usually occur through the real estate agency, and the Agent will conduct a quick inspection to ensure the property is in a state as agreed.

Remember, this step-by-step guide to selling your house in Australia provides a general overview of the selling process, and specific steps may vary depending on your location and circumstances. Consulting with professionals such as real estate agents, attorneys, and financial advisors can provide tailored advice and support throughout the entire process. Using services such as the bRight Agent App can also save you money along the way.