The essential steps to selling your property
Achieving the best price is serious business:
When selling your property there are many considerations, but most people have a central desire to achieve the highest possible sale price. You might be selling in order to fund your retirement; or raise finance for another investment; or secure the future of your children – irrespective of the motivation, you want to achieve the best possible outcome and this takes careful planning and professional management.
Plan for the future:
We feel that vendors who know what they want and where they are going are in the best position when it comes to selling their property. Many times we have heard “Oh well, we will just see what happens when we sell” and this can lead to missed opportunities and regrets.
As Nelson Mandela said, “Action without vision is just passing time.”
After discussion with your Agent you will have a pretty good indication of what your property should sell for and what capital you have available for your next project.
Think strategically:
This needs to be done prior to pushing the sell button.
There are many things to consider. If cropping, you need to think about sowing and harvesting windows. Any crop to be “given in” should have a value nominated prior to the commencement of the campaign. For livestock, thought should be put into the management calendar, stock on crop and project sales.
Remember that a purchaser is keen to get a return on their investment. Ensure that your marketing campaign is timed to make it attractive to purchasers as this can be critical to an optimal result.
Market effectively:
Marketing options are evolving at a rapid rate and it is important to tailor the appropriate campaign for your property. It can be surprising from where enquiry originates.
Rural Property NSW devotes significant resources to analysing the most effective marketing options to suit different properties. Our advice is supported by analysis of previous campaigns, combined with a thorough understanding of contemporary marketing techniques.
Start preparation now:
It’s never too early to start preparing. Some considerations include:
- Collate farming data including agronomy information, farm management practices, and cropping outputs;
- Collate livestock data including carrying rates, turn off, livestock management practices and fodder crop grazing;
- Have a preliminary discussion with your legal representative so that you are aware of the costs and preparation timelines;
- Have a preliminary discussion with your accountant;
- Prepare some notes on property history and improvements that you have made to it during your ownership such as pasture development, house renovations, grain storage and livestock yard design;
- Put some thought into improvements that you would undertake if you were not selling that might assist profitability and management; and
- Ensure any easements, leases or contaminated sites are sorted out prior to commencing marketing.
Discuss:
Don’t delay beginning the discussion with your Agent, even if you are only exploring the thought of selling in the future. The earlier the discussion begins, the smoother and more successful the result.
All discussions with Rural Property NSW are completely confidential and obligation-free. Call Michael Guest on 0429 921 700.
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