The biggest questions when selling a home
If you’re considering selling your home, chances are you have a few questions. After all, selling a property is a major financial and emotional decision.
Selling any property is also a bit of a process, involving lots of small but significant decisions along the way that all add up to create a successful scenario where your home sells for the best possible price in the shortest possible time frame.
So let’s look at the biggest questions people tend to have when selling a home.
Which agent should I choose?
Selecting the right agent to represent your property and your interests is a really important part of the sale process.
We have some great tips on what to look for in an agent here, but in brief, the agent you select should be someone with a track record of successful sales in the region where your property is located.
They should also be someone you feel you can trust to understand your goals and help you achieve them.
What price should I set?
When it comes to setting the right price for a property, there’s a sweet spot to keep in mind.
Set the price too low and you will undervalue your asset, set it too high and the property could languish on the market.
To determine that sweet spot, do your market research in advance, looking at what similar properties in the region have sold for.
This is also where a great agent will come into their own. They will provide an appraisal of your property, along with information about similar recent sales.
Which sales method should we use?
There’s more than one way to sell any property, and selecting the right one for your home is an important part of the sales process.
The most common sales methods include:
- Private treaty, with an advertised price
- Auction
- Best offer
Again, this is something to discuss with your agent. Not all properties are suited to auctions or best offers, but in the right circumstances these sales methods can help you achieve a high price for your property in a short amount of time.
How should I prepare my property?
Preparing your property for sale takes time, and ideally it should be done well in advance of bringing your home to market.
This preparation involves:
- Completing any necessary repairs
- Finalising any unfinished work around the home
- Decluttering
- General tidying
- A fresh coat of paint, if required
- A general tidy of the yard to create street appeal
How long will my property take to sell?
It’s hard to predict exactly how long a property will take to sell as it depends on a range of factors including suburb, whether it’s in a regional area or a city, market conditions, the pricing of the home, buyer demand for that type of property and more.
If you’re seeking to determine how long properties take to sell in your specific area, the metric to look for is median days on market.
Nationally this figure is sitting at 36 days, according to the latest data from CoreLogic, but as mentioned, days on market vary drastically depending on where the property is located.
How we can help
If you’re considering buying or selling a property and seeking to understand the current market conditions, why not chat with one of our friendly agents to understand how we can help?
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