There’s more to selling a house than putting up a listing and waiting for the right offer. It’s a chain of small but important decisions, and when they’re handled well, they can make a big difference to your final profit. Maybe it’s the timing. Maybe it’s how you present the place. Or maybe it’s choosing the right agent who knows how to read the market.
Whatever the case, understanding the selling process from the ground up gives you control, and when you’re selling something as valuable as your home, that control really matters.
Here, we’ll walk you through the key stages involved in selling a house in Australia, including pro tips on how to present your home, when to market it, and strategies to maximise your profits without overspending.
Key Steps Involved in Selling a House in Australia
Every stage of selling a house requires attention and the support of experienced professionals. Here’s a breakdown of the key steps to get your property market-ready:
1. Engage a Licensed Real Estate Agent
One of your first steps is selecting a real estate agent to handle your sale. Most agents will provide a free property appraisal as part of their pitch, and it’s standard practice to interview 2–3 agents before making your decision.
The agency agreement will specify whether they have exclusive selling rights, the campaign duration, commission rates (typically 1.5-3% in Australia), and what marketing costs you’ll be responsible for. Make sure you understand all terms before signing, as this contract governs your entire selling relationship.
2. Get Legal Documents Prepared
Before your property can be advertised, you’ll need legal documents prepared by a solicitor or conveyancer (Vendor Statement). This process typically takes 1–2 weeks and costs approximately $1,000–$1,500. Ideally, it should be completed before any marketing begins.
Required Documents:
In Victoria, this includes the Contract of Sale and Vendor Statement (Section 32), which disclose key property details like title information, zoning, easements, and any building works. These documents also specify what’s included and excluded in the sale. Standard inclusions typically cover fixed items like built-in wardrobes, light fittings, floor coverings, and window treatments.
3. Prepare Your Property for Sale
This step involves getting your home market-ready through presentation improvements and ensuring compliance requirements are met.
Presentation Focus:
- Clean, declutter, and consider ending any tenancy agreements.
- Complete cosmetic improvements like fresh paint, updated lighting, and landscaping.
- Consider professional styling ($2,500-$8,000) if budget allows.
Compliance and Inspections:
Ensure requirements like pool barriers and smoke alarms are up to standard. You may also choose to get building and pest inspections done upfront, which can speed up negotiations later.
4. Set Your Price and Choose a Sale Method
Your agent will provide a comparative market analysis to help you set a realistic price guide. Current market conditions (whether prices are rising or falling) will impact your pricing strategy. You’ll also need to decide between auction and private sale methods:
Auctions work well in competitive markets and create urgency among buyers. You’ll set a reserve price (your minimum acceptable amount), which may differ from the advertised guide price. If bidding doesn’t reach your reserve, the property is ‘passed in’ but can still be negotiated afterwards. An Auction campaign generally runs for 4–5 weeks.
Private sales offer more flexibility and longer timeframes, suiting unique properties or slower markets.
5. Launch Your Marketing Campaign
Your agent will coordinate the marketing campaign, which typically runs for 4–6 weeks. Depending on your property, costs usually range between $6,000 and $7,000. Many agents also explore pre-market or off-market opportunities before the official launch.
The campaign includes professional photography (usually scheduled 1–2 weeks before launch), copywriting, online listings on major platforms like realestate.com.au and Domain, a signboard, social media exposure, and organising open inspections.
6. Conduct Open Inspections and Private Viewings
During your marketing campaign, your agent will schedule regular open inspections (typically mid-week and on weekends) as well as private inspections for interested buyers. This is when potential buyers physically view your property and assess whether they want to make an offer.
Your agent will provide feedback from these inspections, which can help gauge buyer interest and potentially adjust your pricing strategy if needed. It’s important to keep your property in pristine condition throughout this period.
7. Receive and Negotiate Offers
Not all offers are created equal. Some come with finance approval and short settlement terms. Others may be subject to building and pest inspections or the sale of the buyer’s existing property. When you receive multiple offers, your agent will help you assess them.
Understanding the Process:
- Finance clauses typically run for 14–21 days, during which the buyer arranges their loan approval.
- Unconditional offers provide more certainty than those subject to finance.
- A strong agent negotiates to secure not only the best price but also the right conditions for you.
- Some sellers also engage a vendor’s advocate to help with negotiations.
- Once contracts are signed, a deposit (commonly 10%) is paid into a trust account, and the sale becomes legally binding.
Cooling-Off Periods: The sale is subject to any cooling-off period (3 business days in Victoria) or special conditions, unless sold at auction, where no cooling-off period applies.
8. Arrange Mortgage Discharge (If Applicable)
If you have a mortgage on the property, you’ll need to arrange for its discharge before settlement.
Key Points:
- Start this process as soon as contracts are exchanged.
- The process can take several weeks.
- Discharge fees typically cost $300-$1000.
- Delays in this process can hold up your settlement.
9. The Settlement Period
Settlement usually takes place 30 to 90 days after contracts are exchanged, though this can vary depending on what you agree with the buyer.
Before Settlement:
- Your legal representative will prepare for the transfer of ownership.
- The buyer will typically conduct a final walkthrough/inspection in the week leading up to settlement.
- Loan repayments and mortgage discharge (if applicable) are organised.
Important Reminders: Make sure the property is in the same condition as when sold, or you could be liable for compensation. It’s also a good time to organise removals, disconnect utilities, organise mail redirection, and finalise your move.
10. Complete Settlement and Handover
On settlement day, ownership officially transfers to the buyer. You’ll receive the full sale price minus any outstanding mortgage, and your selling costs (agent commission, legal fees, marketing, etc.).
The Handover Process:
- Keys are handed over to the buyer.
- Final utility meter readings are recorded.
- All relevant documents are exchanged through your legal representatives.
After Settlement Tasks:
- Notify the council, water authority, power company, and internet provider that the property has changed hands.
- Redirect your mail and cancel property insurance.
- Ensure any final bills are paid.
Tax Considerations: If the property was an investment, your accountant should calculate capital gains and ensure any applicable tax obligations are met. Capital gains tax must be included in your next tax return if applicable.
What If Your Property Doesn’t Sell?
If your property doesn’t sell during the initial campaign, you have several options:
- Price reduction: Lower your asking price or reserve based on market feedback.
- Re-launch campaign: Start a fresh marketing campaign, possibly with different methods or agents.
- Withdraw from market: Take the property off the market temporarily and try again later.
- Rent it out: Convert to an investment property if circumstances allow.
Your agent should provide honest feedback about why the property didn’t sell and recommend the best path forward.
Tips for Maximising Profit
Selling a home doesn’t have to break the bank. While some costs are inevitable, there are plenty of ways to minimise unnecessary spending without sacrificing your sale price. Here are some tips to help you sell efficiently and maximise your return.
1. Freshen Up Your Home with Simple, High-Impact Improvements
One of the best ways to increase your home’s value without overspending is to focus on simple, high-impact upgrades that improve a home’s first impression.
High-Impact Cosmetic Fixes:
- Deep clean the interior and exterior to refresh the property and make it shine.
- Repaint in neutral tones, which appeals to a broader range of buyers and gives the space a modern look.
- Fix minor issues such as leaky faucets, cracked windows, or loose cabinet pulls and doorknobs.
- Refresh the garden: trim hedges, tidy the lawn, get rid of weeds, and plant a few flowers for added appeal.
- Improve curb appeal by pressure washing the driveway and any outdoor areas/decks, cleaning the mailbox, and adding fresh paint where necessary.
These improvements create a modern feel and boost curb appeal without the expense of major renovations.
2. Time Your Sale Strategically
Market timing has a significant impact on how much you can get for your property. Selling during peak times, such as spring or early summer, tends to attract more buyers, especially those looking to settle before the new school year starts. Properties listed in these months often see more competition, which can drive up the sale price.
Keep an eye on market trends in your area. A knowledgeable agent can help you identify the best time to list your home based on demand in your suburb.
3. Choose the Right Sales Method
The sales method you choose can also impact your sale price. Work closely with your agent to determine the best approach based on your market and property.
Auctions work best for:
- High-demand areas with multiple competing buyers
- Unique or one-of-a-kind properties
- Markets where urgency and competition drive higher prices
Private sales suit:
- Slower markets or niche properties
- Buyers who want flexibility and negotiation time
- Properties that don’t fit the typical ‘auctionable’ profile
Each method has distinct advantages, so choose based on your local market conditions and property type.
4. Invest in Digital Marketing
Most buyers start their search online. A strong online presence can help your property stand out in a crowded market. Invest in professional photography and detailed floor plans to exhibit your property in the best light. Video walkthroughs and 3D tours are becoming more common, and they provide buyers with an immersive experience without stepping foot inside.
Make sure your property is listed on all the major platforms, like realestate.com.au and Domain.com.au. Your agent can also use email marketing and social media to get your property in front of a larger audience.
5. Leverage the Expertise of a Skilled Agent
A good agent is an investment, not an expense. While commission is a consideration, a skilled agent can actually help you make more money in the long run by securing a higher sale price and negotiating the best terms. Their knowledge of local market conditions, buyer trends, effective sales strategies and negotiation tactics is invaluable.
Don’t be afraid to ask your agent for specific examples of how they’ve helped other clients achieve the highest possible sale price. A great agent will help you price your property correctly, market it effectively, and negotiate with buyers to get you the best deal.
6. Understand Your Selling Costs Upfront
Before you list, be sure to factor in all the costs associated with selling to help you budget effectively and avoid surprises.
Typical Selling Costs:
- Agent commission: 1.5-3% of sale price
- Marketing: $6,000–$7,000 depending on package
- Legal fees: $1000–$1,500 for conveyancer/solicitor
- Professional styling (if used): $2,500-$8,000
- Building and pest inspections (if done upfront): $400-$800
- Minor improvements and repairs: Variable based on property condition
Cost Management: Some costs, like marketing, are essential, while others, like repairs, can be scaled to fit your budget. Prioritise expenses that directly impact your sale price and buyer appeal.
Conclusion
When you break down the home-selling process step by step, it becomes much less daunting. The difference between a good sale and a great one often comes down to small details: pricing strategically, smart presentation choices, and choosing an agent who knows your local market and has great negotiation skills. What’s encouraging is how much control sellers actually have over their outcome. Yes, market conditions matter, but preparation and timing make a significant difference to your bottom line.
For more information about property sales, take a look at our blog, The Ultimate Guide to Selling Your Property. It covers everything you need to know before putting your home on the market.
Based in Surrey Hills or the surrounding areas and considering selling your home? The Ross-Hunt team has been proudly assisting local homeowners since 1973. Contact us for a no-obligation appraisal and discussion.