COVID - 19 UPDATE - 2021
The 2020-2021 Peninsula property market has increased between 20%-30%.
There is a gross undersupply of homes available to service the influx of Melbourne buyers.
Now is the time to capture the most buoyant property market seen in a generation.
Thank you for the opportunity to inspect your property.
Selling a property is an important event. The decision on which agent to appoint is the single biggest factor in determining a positive outcome.
Market activity on the Mornington Peninsula is at a great level and our office has recently recorded some excellent sales results across the Peninsula.
Every vendor wants a successful sale at the best possible price, in the shortest space of time, and with the minimum of fuss. Despite many agents promising to achieve a particular price, the role of an agent in the process is not to determine the price. Their role is to generate maximum interest in the property and draw out genuine buyers who then compete with each other on price. When an agent is a good marketer of property, this is how the vendor will get the best result possible in the marketplace at the time of sale.
This is why we give you an expected sale price range which is neither overly optimistic nor pessimistic, but more realistic for the current market.
There are several key considerations covered in this submission to assist your decision-making.
1 Method of Sale
2 Timing of Sale
3 Marketing and Promotion of Your Property
4 Ray White’s Predicted Price Range
6 Frequently Asked Questions
1. METHOD OF SALE
There are two major methods for selling residential property. These are sale by Private Sale (For Sale) and Public Auction. Each method has its own advantages as outlined below:
Sale by Private Sale
This involves setting a price for the property before offering it for sale. Whilst we find that many people initially feel more comfortable with the idea of this method of sale, there are a few things to consider before submitting your property for sale in this manner.
Firstly, you must make a decision as to the initial asking price. This, in itself, is a difficult process as the true value of any property is what the market is prepared to offer. If a property is under priced it will sell quickly and the price cannot be maximised. If you overprice your property, it may sit on the market for a long period of time and run the risk of going ‘stale’ or being over exposed.
We have an excellent knowledge of recent comparable sales in your area and will assist you to arrive at a realistic price expectation for your property, if you choose this method.
While Private Sale may seem like a more relaxed approach to the sale of your property, remember that there is also less incentive for buyers to move quickly to complete their negotiations and to complete their purchase of your property. There is no time limit for the sale so the buyer may be tempted to use this to their advantage. In the absence of any competitive offer from a second part, your agent’s ability to influence the final price in an upward direction may be somewhat restricted.
Sale by Public Auction
An auction is a public sale where buyers bid against each other to purchase a property. If the highest bid is acceptable to the vendor (the seller) the sale occurs on the fall of the hammer. The property is ‘passed-in’ if the highest bid fails to meet the vendor’s reserve price. For the vendor, auctions have many benefits including:
Competitive bidding. Buyers compete against each other rather than against you.
Eliminates the pricing issue. As the reserve price for an auction is usually set just prior to the auction you will have the benefit of receiving 4-6 weeks of market feedback to assist you to determine the appropriate reserve for your property.
Puts a time frame on the selling process. Private treaty selling is an open-ended sale process which can continue indefinitely whereas, with auction, the buyers are given a set time frame to work towards, usually three to four weeks. This ensures that all buyers give the property their full attention during the selling period. They must have their finances organised and be ready to act by the date of the auction. This invariably leads to a more focused buyer and a more successful outcome.
No cooling off period. A sale made under the hammer is definite and there is no cooling off period, allowing potential for the buyer to change their mind and withdraw.
No advertised price. The promotion of the property during the marketing period can attract interest from a wide range of potential buyers. If there is strong demand, interested parties will compete with each other that can sometimes result in the sale price exceeding your expectation.
2. TIMING OF SALE
Deciding when to sell your property is another important decision. While there are seasonal variations in the strength of buyer demand, much depends upon what type of property you plan to sell, where it is located, and other environmental factors that may be influencing the market.
Ultimately, the ideal time to sell your property is when it presents at its best, or when there are not many other similar properties also available in the marketplace.
If your garden looks at its best during spring and summer, then that may be the best time of year to sell. Alternatively, if full summer foliage in your garden darkens your interior, you may consider that it would be better to sell during winter when your property’s light levels are at their brightest.
Carefully choosing your open for inspection time, or the times at which your property may be shown by appointment, will ensure that you maximise your sale price.
Apartments are frequently less affected by seasonal considerations so it’s often just a matter of deciding what timing suits you best.
If there’s no flexibility in the timing of your sale, we are well placed to provide professional advice as to how to maximise your opportunities through the careful presentation of your property.
* Firstly Ray White requires your INSTRUCTIONS to proceed.
* The property must then be ready to PHOTOGRAPH.
* Draft advertising will be presented for your APPROVAL.
* The board will go up and your property launched on the INTERNET.
* Your FIRST OPEN FOR INSPECTION will take place within a week.
* Your agent will provide you with regular FEEDBACK.
3. MARKETING AND PROMOTION OF YOUR PROPERTY
Competing for attention in a busy real estate market is like talking underwater. Innovative print and multimedia marketing can make the world of difference.
In presenting your property to the market, it is important to determine the likely target market of buyers so we can focus the sales message more effectively.
The buyer for your property is likely to be attracted by the proximity to the beach, shops, cafes and freeway. The property will also attract investors and developers. Your potential buyers are likely to be attracted from the following market sub-segments:
With the Frankston bypass now completed in, many investor are finding Rye to be an attractive option. A low vacancy rate and reasonable returns, investors find Rosebud very appealing. We would be happy to notify all of our current Landlords, accountants and financial planners of your property
As the task of selecting a real estate agent to market your property is such an important one, we have taken some time to outline how Ray White will approach your sale. Frequently, with the sale of real estate, it’s not what you do but how you do it!
The Ray White Real Estate Network is one of the largest, most successful networks in Australia and New Zealand. We believe that our innovative marketing methods are the most effective in the market place. Supported by the cross-marketing potential of more than 800 offices, our results speak for themselves.
Reflecting our commitment to industry leading standards, our office has been designed to make customers feel right at home from the moment they set foot inside. Our prominent location helps to assure a high level of exposure for your property and our systems guarantee that every listing receives equal attention from our team of salespeople.
The Ray White referral network rewards all Ray White offices for introducing buyers - even if they are not the primary agent selling your property. This ensures that there is great incentive for all agents within the Ray White family to actively promote your property, thereby maximising your sale price.
4. RAY WHITE’S PREDICTED PRICE RANGE
In assessing the potential market value of your home, various factors have been taken into account such as recent comparable sales, location, condition of your property and current market dynamics.
Other comparable properties that have recently sold in your area include: *Please advise of address as to compile a Market Analyses Report to ascertain competition and value in today’s market.
In addition to advertising costs, Ray White’s fee for representing the sale of your property is negotiable on the final sale price. Whilst you will no doubt find any number of agents who will, as a rule, heavily discount their fees, we have total confidence that if you instruct Ray White to represent your interests, you will receive a greater sale price.
In the event that a sale is not made, a fee will not be incurred.
6. FREQUENTLY ASKED QUESTIONS
Can security be a problem during inspections?
Before opening your home for inspection, it’s important to give a little thought to security. As long as certain precautions are taken prior to going on the market, risk can be effectively minimised.
Small personal items that are of great value or importance should be carefully stowed away. Whilst they may enhance the appearance of your home, it is safest to secure them. Naturally, jewelry or watches should not be left in bedside drawers, as this is the first place a ‘would-be thief’ might look.
Does my insurance or Ray White insurance cover any theft?
This is an important question. Unfortunately, no insurance company will cover the contents of your home when it is opened to the public for inspection. Whilst we are vigilant, it is not possible to keep an eye on all people at all times. Once again, a few preliminary precautions should ensure that nothing goes missing.
Do I have to pay for advertising my property?
In the past, some agencies would charge a higher selling fee in order to affect a sale. The owner of the home would not be asked to fund any advertising up front but the higher fee was struck in order to cover the agency’s advertising expenses on completion of the sale. Advertising would take place at the discretion of the agency, often with little or no input from the owner of the property.
Ray White policy is that our ‘selling fee’ is only payable when your home is sold. Therefore our selling fee is set at a lower level and does not include advertising expenses. The ‘marketing fee’ is required to be paid upon execution of the agency agreement so advertising may be booked and confirmed.
What happens if I sell my property prior to auction or before all adverts are placed?
In the event that there is the opportunity to secure a satisfactory sale price prior to auction, all remaining advertising would immediately be withdrawn. A full refund would be made for the balance of advertising funds. If a sale, prior to auction, were being considered at a point where newspaper deadlines make it impossible to withdraw remaining advertisements, we would explain fully which advertisements were affected prior to a final decision being made. You will not be asked to pay any additional fee.
Do I need to go out during an open for inspection?
We strongly recommend to our vendors that they leave the house during an open for inspection. This is so we can create the most desirable environment for prospective purchasers. We’d like you to think of your home as a showroom.
Buyers can sometimes feel quite intimidated by the presence of an owner. Put yourself in their shoes. As well as limiting the buyer’s ability to ask questions and restricting their option to investigate personal storage areas, they may also feel that they are invading the owner’s privacy and therefore shorten their inspection.
When we’re selling your property, we want everything working in your favour. If a potential purchaser sees something they’re worried about, it’s critical that we can openly discuss it with them without concern that it may offend the owner.
We feel that the attached campaign considers and maximises all aspects of your property's potential. With this plan, we are confident that Ray White Rosebud will achieve the highest possible sale price for you.
Probably the most significant advantages in listing with Ray White are as follows:
1. Ray White has a long, well respected association, with the Rosebud community. We have a commitment to continuous improvement.
2. One of the most significant marketing tools in real estate today is clearly the internet. Ray White pursues a unique IT strategy that has consistently led to some of the highest search rankings in the country. We can therefore assure our vendors of strong internet exposure and high search engine transparency.
3. We are licensed by the Real Estate Institute of Victoria. This provides the assurance that I am fully qualified and experienced in all matters related to the transaction of real estate in Victoria.
4. With the largest sales team in Rosebud and a 95% success rate at auction, we are getting results through more inspections, communication, buyer database and great marketing.
I would love to get started on the sale of your property and recommend the following procedure:
1. Discuss the timing of sale and arrange contracts when appropriate.
2. Approval of marketing plan – To be discussed.
3. Arrangement for Contract of Sale/Section 32’s to be prepared.
During the course of the sale, I will provide regular updates to ensure that you are fully aware of buyer enquiry and level of interest.
Thank you again for the opportunity to submit this proposal for the sale of your home.
0408 27 23 25
(03) 5986 4900
Private Sale or Auction