Typically there are 4 types of sellers – 1./ The upsizer/ downsizer, 2./ The investor, 3./ The executor & 4./ The overseas seller.
1./ The Upsizing or Downsizing seller – These vendors are looking for a larger or smaller property, as their needs change and they find they need either more or less space than they did previously.
2./ Investor – This person buys a property as an investment with the intention of earning a return either through rental income, the future resale of the property or both. An investment property can be a long-term or short-term investment.
3./ Executor – This person is appointed as the administrator of a deceased person’s estate or the selling of a family home. Executors are required to preserve the assets until they are sold or distributed, as well as protecting them from devaluation
4./ Overseas – This is a seller who lives in another country but has a property in Ireland they wish to sell.
No matter what kind of seller you are, you should NOT go it alone; seek the help of a trusted, knowledgable real estate professional. Selling a property can sometimes be a complicated process. To ensure you get the best price possible, you will need an expert in your corner with keen market insight and negotiation experience.
1st things 1st. At O Callaghan Town & Country, we offer Free home evaluations; once all aspects of the property have been considered and the comparables have been factored in and applied it is then we can provide you with a detailed CMA “Comparative Market Analysis”, along with an AMV “Advised Market Value”. At this point we would introduce a smart marketing strategy and create an individually detailed marketing plan for your property.
At O Callaghan Town & Country we also fully appreciate how important it is that you completely understand any/ all fees associated with the sale of property in advance of the process. The agent’s fee is the rate of compensation for the work the estate agents do to sell your property. In most cases this will simply be a percentage of the selling price. Some estate agencies may charge you a marketing fee up front as well.
Your solicitor plays a MAJOR role in the sale:
The conveyancing process (transfer of legal title from one person to another) is standard throughout the country; the expertise of a proactive, engaged and experienced solicitor can make all the difference in the world.
Don’t just choose any solicitor; ask around. Find a good referral from your estate agent or from a trusted advisor, friend or colleague. Choose a solicitor that has a good reputation for working hard; someone who is efficient.
Keep in mind that if you are buying a property at the same time as selling your existing property, it makes good sense to use the same solicitor for BOTH transactions. This will save you money too AND it should result in a more straightforward, faster process.
There are 3 key questions you need to ask when you reach out to solicitors:
- Does your firm have a dedicated conveyancing department; if not, what level of experience do you have? A firm with a dedicated conveyancing department will likely prove to be a smoother process, but this may not always be available when dealing with smaller firms outside of the city. A good personal connection with a solicitor you trust is paramount overall.
- How do you calculate your fee? Some solicitors charge a “flat fee” while others require a “percentage of the sale price” so make sure you confirm this detail with them in advance of hiring them.
- What can I do on my part to ensure a smooth transaction? An experienced solicitor will immediately make you aware of the pieces of information and documents you can gather and provide to get the process off to a smooth start.
Oh, the new things you will learn! Familiarise yourself with the following terminology!
- Standard terms and conditions contract– You will be asked to sign a standard Terms of Engagement contract from the Property Services Regulatory Authority, this is the regulatory body which governs all real estate agents.
- Have your solicitor’s details on hand and in your speed dial! – Your estate agent will need these details from you. Your mortgage broker or bank will need them as well if the property is subject to a mortgage.
- Compliance certificates – If you have carried out any renovations or extensions to your property since you’ve owned it, you must have certificates of compliance for these. It is a good idea to have a copy of these details in your files and also discuss this with your solicitor.
- Building Energy Rating (BER) report– Since 2013, it is a legal requirement for your property to have a Building Energy Rating certificate before you can put it on the market. For a nominal fee, you can hire an independent assessor to visit your home and conduct this evaluation.
- Land Registry Map – You may need to provide your solicitor with a land registry map and this is something you can discuss with them. www.landdirect.ie is a great resource to look at these details and often times your estate agent may already have this map printed and on file for your listing.
- Anti-Money Laundering documentation – We must all comply with this legislative requirement, you will need to show a valid driver’s licence or passport and a recent utility bill which confirms your name and current address, dated within the last 6 months.
Ready to list? Preparing your property for prospective buyers is key
Here are some “key’ areas to focus on…
- Curb appeal – Make sure your home makes a great first impression. From a clearly visible house number to squeaky clean windows and a working doorbell, you never get a 2nd chance to make a 1st impression!
- Clean and tidy – THE MOST IMPORTANT POINT you will read here. Have the carpets professionally cleaned and dust and polish like your life depends on it. A fresh clean house is a house that sells.
- Definition and neutrality – buyers like to see clearly-defined rooms and want to envision themselves living in your space. That means each room should have one clear function also, remove personal items whenever possible.
- Storage – a home that is spacious and can offer plenty of storage is always more attractive than one where space might be limited due to excess furniture or clutter. Kitchen cabinets are a good point of reference… you may have loads of counter space but it might be ladened down with the toaster, the coffee-maker, the kettle, the blender, the air-fryer, etc., etc., Store just about everything so that potential buyers can see and appreciate the counter space and put a check in that box!
- Your garden or exterior – no matter how small your garden is, a well-maintained garden can add excellent value to your home. If you do not have a garden, ensure your external walls, fittings and balconies are clear and clean.
Marketing and advertising your property
This is where your estate agent should really shine and prove their worth!
A high quality brochure and the use professional photography will show your home in the best possible way. Quality promotional material that includes professional photography, clear floor plans and engaging descriptions will connect and resonate with buyers.
Your property will also be advertised through several online and offline channels. Traditional methods like newspaper advertising may still be relevant but online marketing is becoming more and more mainstream and indeed, more popular. Your estate agent should be good at discerning which medium to use and this is where your estate agents experience and market knowledge is crucial.
There will be ongoing private viewings and estate agents may suggest holding open houses when/ where appropriate. An open house is an advertised viewing where potential purchasers do not need to make an appointment to view the property. These events normally take a couple hours, usually held on a Saturday or Sunday. The names and numbers of all potential buyers are taken at the door as they come to view the property. For private viewings, we aim to always work around your schedule and conduct viewings with minimal disruption, ALWAYS giving you 24 hours advance notice.
To launch your digital strategy, we will promote your property where possible across a multitude of social media platforms, such as Facebook, Instagram, Twitter, Linked-in, Tik tok. We advertise on our own property website, www.townandcountryrealestate.ie, but also on Irish property websites such as www.myhome.ie, www.daft.ie, and where appropriate, the UK’s leading property search engine www.rightmove.co.uk.
We understand selling a property is new territory for most folks. We will guide you every step of the way. From tips and tricks on how to properly stage your home for a viewing and helping you get ready; we’ll work with you to maximise the chances of a successful viewing. We handle each and every viewing on your behalf and after every viewing, we fully debrief you as to how it went and on any potential buyers. This will help you gauge the level of interest and correct any items of concern.
Feeling informed? As I like to say all the time: knowledge is power. An informed seller is a smart seller.
Are you ready to sell? If you are ready to talk about putting your property on the market, there’s no better time than right now. It’s early in 2023, it’s forecasted to be a stable and successful year in real estate and the laws of supply and demand are working in your favour. Let’s talk! 086 271 6598.
