Timeline of a Home Sale

Are you getting ready to sell your home in 2024 and wondering how long it will take before you can put the sold sticker on your sign and move to newer pastures? 

Timelines for a home sale in Rockhampton can change but here is a breakdown of each stage of the process. 

1. Take the plunge and get started

In some cases, making the decision is the longest part of the home sale process. If you’re not sure whether to sell, the best advice is to have a chat with an agent. Get their insights about what the market is doing and what your next move could be. There may be opportunities that you haven’t considered. 

Once you have made a decision, you will need a timeline of your own. Do you want to relocate by the middle of the year, by Christmas or asap? If you have a date in mind, you’ll find it easier to map out the next steps. 

From there, it’s time to book appointments with two or three agents for a valuation. This can take a couple of weeks and by the end you should have an idea of who you want to go with. 

Your agent will ask you to sign an agreement before they begin working with you. This will outline the services they will provide, their fees and any special conditions. 

2. Preparation (2-6 weeks)

With an agent on board and an idea of when you want to have moved by, it’s time to start preparing your home for sale.

The better you make your home look, the higher the odds of getting the best price, so leave some time to get ready for photography and your home opens. 

If you’re in a big hurry, perhaps because you have already made a purchase, you can achieve a lot in two weeks but most sellers take a little bit longer to take care of tidying, cleaning and repairs. Your agent can connect you with service providers to speed up the process. 

You can also check out our blog post on preparing your home for sale for inspiration.

The most important steps to prepare your home for sale are:

- Decluttering

- Cleaning

- Staging/presentation

- Repairs and maintenance

Your agent is an excellent source of information for small improvements and presentation tips that might help you achieve a higher price. They might even bring in some early buyers for a sneak peek at your place. This is a good idea to give you an idea of what people might be willing to pay or even to get an early offer. 

During this phase, you’ll also need to reach out to a conveyancer so they can have a contract ready to hand to your buyer. 

3. Preparing your listing (1-2 weeks)

The next stage is listing your home for sale.

Your agent will organise a photographer to photograph and make a video of your home; if you have chosen to hire a stylist, this will be when they come in and have the place looking its best.

With photography and copywriting done, your agent will create online listings and videos for social media so your ad gets as much exposure as possible. 

All of this together may take a couple of weeks to complete. Be prepared to sign off on your marketing content as soon as it’s ready so your agent can meet listing deadlines. 

4. Advertising and viewings (2-6 weeks)

Now that your home is officially for sale, the fun really begins.

Unless you have had a few early viewers before going on the market, this will be when the first buyers come to take a look.

Generally, a new listing will go up on a Sunday night or Monday morning, with home opens being held on Wednesdays and Saturdays.

Then it’s a matter of holding regular home opens and waiting for offers, unless you are going to auction. 

Depending on the state of your home and where you are based, you shouldn’t have to wait too long. Here are the most recent median sale times for some Rockhampton suburbs, sourced from realestate.com.au:

- The Range: 39 days

- Allenstown: 53 days

- Frenchville: 21 days

- Berserker: 21 days

- Norman Gardens: 24 days

- Park Avenue: 32 days

- Wandal: 26 days

- Gracemere: 26 days

Keep in mind that averages can be pushed out by a single home that takes a long time to sell. We are finding that two or three home opens is usually enough to sell a good quality home in Rockhampton in 2024. 

5. Receiving offers and negotiating (1-2 weeks)

Things tend to happen quickly once offers start rolling in because your agent will be working hard to make sure interested buyers don’t miss out. Generally, once a buyer makes an offer you’ll have others start to do so as well. You’ll receive a flurry of phone calls while your agent helps you figure out which offer to accept. 

If there is only one offer, your real estate agent will negotiate with the buyer until you reach a point where you’re happy. 

From there, it can take a few days to finalise the contract. Your conveyancer will step in at this point and provide guidance while your buyer reviews the terms of the agreement.

The exception to this is auction; in this case, you have a set date for the sale. Once the reserve is hit and the hammer falls, the sale is final and the buyer has to hand over their deposit on the spot. 

6. Settlement & moving out (4-6 weeks)

The final stage involves settlement and moving day.

Settlement day is the day when the paperwork exchanges hands and the property is officially transferred to the new owners.

You should expect this process to take up to six weeks as more steps must be completed, including a home inspection, appraisal from a valuer, and the buyer finalising their mortgage. 

You will spend this time working with your agent, lender and solicitor to prepare all the paperwork for the big day.

If you can move out a day or two before you settle it will make life a bit easier but it depends on your circumstances. 

Some sellers prefer to negotiate a longer settlement period, e.g. for ten or twelve weeks. This is up to you and the buyer to decide between yourselves. 

How long does it take to sell a home?

The timeline between the initial phone call to your real estate agent and you accepting an offer can be anywhere between 6 weeks and 6 months. 

Generally speaking in Rockhampton at the moment, homes are selling within a 2 - 3 month timeframe. Exceptions occur when a seller is in a very big hurry, when they are holding out for a price that doesn’t match market expectations or if the home is only suitable for a very specific type of buyer. 

Want an estimate of how long it will take to sell your property? Reach out to The Agency CQ today.