If you are sitting on the fence about selling your home … you’re not alone. Should we sell in spring, is after the new year better, or a before end of financial year best, or when the market improves I’ll sell? These are all very common questions and misconceptions we believe. The reality is any market condition is the right time to sell your home. The real estate market never stops – there’s always willing buyers and sellers in every single real estate market and right now is no different. People are always looking to upgrade or downgrade, despite what cycle the real estate market is in or the economic climate. Let’s first take a look at some of the reasons people decide to sell their home The right time to sell your home does of course depends on your circumstances, and there are some common reasons people decide to sell.
Any of the situations below could be factors when considering the best time to sell your home:
- A growing family
- A job transfer
- A need arises to unlock capital
- Releasing profit from an investment
- You can no longer afford to keep the property
- An opportunity arises that is too good to refuse
- Funding retirement
Generally speaking, it’s best not to sell a property during times of upheaval in your life or when you are unable to showcase the property in its best possible light. Before listing your property for sale, make sure that you are genuinely ready and willing to sell. With the right agent you can sell in any market conditions.
HOW TO SELL IN ANY MARKET CONDITIONS
1. Choose the right agent
Choosing the right agent is the first step. You want someone experienced with runs on the board and that has vast local knowledge. Great communication and negotiations skills are also essential. We recommend interviewing your agent and asking some key questions to see if they are the right person for you. Download our Guide to Choosing the Right Real Estate Agent here.
2. Finding the right method of sale is key
Different markets and different properties warrant a different method of sale. Auction and Private Treaty are the two most common forms of selling properties in any market conditions. An experienced agent will be able to guide you to choosing the best method of sale for your property.
3. The next step is to work out the price you want to sell for
The value of your property will be influenced by its location, size, date of construction and other features. Other property sales in the immediate vicinity may also give an indication of a price range. IF you price the proeprty too you are likely to scare away potential buyers who may not even come and look at the property, and go too low, well, you won’t be achieving a premium price for your property.Properties have increased in value over the past two years and are still remaining higher than they have in a decade. Speak with an experienced agent and get a free property value report.
4. Invest in marketing
The goal of marketing is to present your home in the best possible light so that it attracts all potential buyers, this creates competition for your property, and we all know what competition does – drives the price higher. When you successfully market your property using digital and traditional marketing and promotion methods, you can sell in any market conditions.
Deciding to sell your property is a big decision and should not be taken lightly. Start the process by evaluating your own circumstances and why you are selling. Next you’ll want to do some research and determine what part of the property cycle we are in and what prices property in your area are selling for. Finally, you’ll want to look for an experienced agent, with a strong selling record in your suburb. Once you choose the right agent the rest of the selling process will fall into place. They will help you determine the best method of sale, the price you should be listing your property for and importantly how they intend to market your home.
If you would like to know what your property is worth today, then fill out this form to speak with one of our experienced local agents.