Step 1

Survey the market

Mary and I attended 32 house showings over one month.

House selections were restricted to our location and price-range.

We discard unsuitable agents.

  • If a representative was not-up-to-par (presentation-wise).

  • If marketing was not truly representative of a property.

 

Step 2

Narrow the field

We selected the top four agencies and collated relevant documentation.

We invited each agency to conduct an appraisal of our property.

Meet with representatives:

  • Mary and I met with representatives (usually in pairs) and showed them our property. 

  • Follow-up meetings were scheduled. These each took a further one to two hours.

  • We grilled them on marketing plans, fees, commission, personal experience, etc

 

Step 3

The Results

We decided to go with Barry Plant Highton.

I emailed letters detailing our selection and why (to all agencies).

 

Step 4

OK, Kieron! It's up to you...

Mary and I met Kieron, senior sales consultant, and Chris, sales assistant, with Barry Plant  to sign forms, confirm our reserve price, marketing program and implementation guidelines.

Then, it was all Go...

  • We completed our 'decluttering' exercise; taking all excess 'stuff' either to Op-Shop or Storage King.

  • We met with our conveyancing agent (Bay City Conveyancing)

  • We selected marketing images, reviewed online and magazine marketing...

 

Step 5

Open-House...

These 30-minute showings were schedule twice each week for the first month and thereafter once a week.

Costings ~ Marketing: $5,485.00 (as recommended) - brochures, internet, photography, local press...

I have been assured there will be no expenses unless our property is sold.

 

Step 6

Review...

Kieron has requested a meeting today to review the situation; considering he has managed the property for six weeks and with no firm offers. I ask him to justify the situation baring in mind his initial confident outlook (yes, our expectations were realistic), his suggested marketing program (top of the range), and his approach to pricing, i.e. giving a 'range' rather than a specific price.

We subsequently agreed to lower our 'range' by $20,000. and to pay a further $410. for another burst of internet marketing.

 

Step 7

Last chance...

  • Kieron has two 'well-below reserve' offers and has suggested we need to "listen to what the market is telling us" and 'review' our pricing to "what the market will pay'" rather than stick to our "unrealistic" valuation.

  • Mary and I agree to lower our 'reserve' another $30,000 i.e. $50,000 below what all four agencies agreed was a "fair and reasonable" asking price.

  • If Kieron doesn't sell within two weeks, we will give one of the other agencies the opportunity to sell our home.

 

Step 8

Hmmm!

Looks like Kieron has done it; a total of four offers, two discarded because they were $25,000 below our 'reserve' and two possibles.

  • 13 April ~ Bank valuer inspects the property...

  • 14 April ~ Hey! Now "Under Offer" - Sold subject to 'finance'...

  • 29 April ~ E-mail from Kieron - We are officially "SOLD ".

 

Moving house is definitely not something I'd do unless I really had to.

A never-ending procession of trips back-n-forth between #1 and our rental.

I found the decluttering associated with downsizing quite traumatic;

particulartly in terms of binning my long-cherished and at times life-saving collection

of teaching aids, materials and programs built-up over many years. 

 

Monday, 29 June (12.00 noon) - Settlement. The lunch-time bottle of sparkling chiraz was very enjoyable.

 

Guess it's on to the next adventure...

Yes! Absolutely... 

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©

John Flatt

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