This is a relatively manageable task which need not arouse any fear or loathing whatsoever.
The important thing is to do your research ahead of listing in order to determnie your listing price and strategy, as well as tidy your property up for the sale.
There are literally hundreds of websites which provide advice about how to make your home presentable and ready for sale.
In a nutshell, tidy up! Get rid of clutter. Spend time and perhaps a little bit of money to repair and maintain anything that looks tired or damaged. Make sure the place is clean. Hang fresh towels in the bathroom and kitchen. Change/replace lightbulbs if needed. Clean the front and backyards. Mow your lawns and spruce up the garden.
Personally, I would not brew fresh coffee or bake bread on open days... these tired cliches may work, but come on! Almost everyone knows about these techniques. I feel these are cheap tricks you should stay away from. As a buyer it would put me off. To me it would be obvious that this vendor is either desperate or consciously trying to manipulate me.
What I would do (and indeed did do) is have some pleasent soft music playing in the background. Something slow, so that people coming through will subconciously slow down, relax their breathing and ultimately spend more time viewing your property. Make sure it is not too hot or too cold inside. Open all doors and windows (including internal doors) for fresh air. Get rid of any unpleasent smells, and in fact introduce some fresh fragrance into your home.
The idea is to try and 'attack' potential buyers through every one of their senses. The key is to be subtle. Don't overdo it.
With price, get to know every similar property in your area that either has sold in the last 6-12 months or is currently on the market (i.e. your 'competitors'). Go to open homes and check out the properties which are in competition with yours. (Real Estate Agents do this all the time). Be objective - how do those properties compare to yours? What are other vendors listing their properties at? Be honest with yourself - would a buyer find these properties more or less attractive than yours? Therefore, how does your price compare to the competition?
Most importantly, read everything you can get your hands on about this subject. Watch TV shows like 'Selling Houses Australia' and make notes. Once you go through this exercise you will invariably obtain an understanding of the market and you should then be able to nominate a reasonable price at which to list.
In addition, you can always contact 2 or 3 local agents, tell them you're thinking about selling and ask them to provide you with a price which they think the property can reasonably achieve.
Trust me, the bastards will come running. Once you get what you want, you are under no obligation to list with those agents.
This may seem like a ruthless or even nasty thing to do - but its just business. Those same agents would not think twice about lying to you or ripping you off. Indeed, lying and cheating is how most of these people make their living - and they do it very well. So don't feel bad. It is business. And everything is fair in love and business (=> business is war).
Next, decide how to state your asking price. For example, if you simply name a price (say $450k), people will invariably make an offer below your nominated price.
Personally I was confident that my property would be in demand and made a decision early on that I would not sell for less than $440k. I then listed it as "Offers above $439k". ($439 sound better than $440, although there is no difference really. This is why retailers list products at $9.95 instead of $10.)
My intention was to keep time wasters away (a time-waster being anybody who is offering me less than $440k - I'd rather not sell below this price).
Another potential strategy is to nominate a range, for example "Offers from $440k to $460k". But I don't like it. Seems ambiguous.
Then sit back and wait for offers to roll in. Once an offer is received, take it seriously and make a decision as to whether you will accept it. Take your time. Don't be greedy but don't sell yourself short either. You can always simply tell the buyer that you are not prepared to sell for that price but would be keen if they increased their offer. If they love the place, they will come back with a higher offer. Or you can tell them that you have already received a higher offer and they will have to better the other offer if they want the property (in which case, don't lie as you could lose the only offer you have).
If you're uncomfortable with negotiations, seek help from your lawyer or a discount agent who specialises in this kind of service. Don't pay them too much though!
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