What it takes to sell a property in the current market
Chances are you’ve heard a lot of commentary about the property market in recent times, including some pretty negative headlines about where prices are heading.
But the reality is, no matter what’s going on in the economy, properties transact regardless.
What matters most in a shifting moment is the skill of your agent and the strategies they employ, so let’s have a quick look at what it takes to sell in the current market.
The right knowledge
The Australian property market is often discussed as one, but the reality is it involves multiple markets that can differ depending on location, demographics, housing availability and a whole lot more.
No-one knows this better than a trusted, local, real estate agent.
They are best positioned to educate you about exactly what is going on in your specific market at this moment in time, and what they have to say might surprise you.
Contrary to the headlines, not all regions are experiencing price declines and even if your area is, a great agent is prepared to provide you with a full, frank and accurate insight of exactly what’s going on.
The right price
In any market, pricing your property correctly is paramount, but that matters a whole lot more when a property market is in transition.
When you price the property correctly, you attract more of the right type of buyer, which increases your chance of sales success.
The right strategy
There are numerous ways to sell a property – private treaty, auction, for sale by tender, expression of interest, etc.
Some are designed to see what the market is willing to pay and create competition, others are designed to meet the market where it’s at.
Again, this is where a great agent comes into their own. They will assess your property and outline the right sales strategy to sell it while taking in the specific conditions of the local market.
The right marketing
Marketing is designed to showcase your property to the right people at the right time, and it’s critical to ensuring a successful and swift sale.
Right now, marketing matters more than ever. It should help your property stand out from the crowd, demonstrate its value and also highlight its point of difference, compared to all other similar properties available.
In short, marketing is the element that gets people to come and inspect the property in person.
A great agent will walk you through the marketing strategy they intend to use, and exactly how they will appeal to the right type of property for your buyer.
The right negotiation skills
All the rhetoric in the media about property prices and interest rate rise has made buyers slightly more cautious than they have been over the past couple of years.
That doesn’t mean they’re not looking to purchase, it just means they need to be educated about what’s really going on in their local area.
This conversation is where a great and experienced agent comes into their own. They work with buyers and sellers to give each party confidence and achieve the right outcome.
The final word
Property sales occur no matter what the headlines say and regardless of what the market is doing. But when things are changing, strategy matters more than ever to a successful sale, and this is where agent skills are more important than ever.
This agent should be in your corner, educating you, listening to your needs, and working with you. They also need to be educating buyers and helping them through the process.
Looking to buy or sell?
If you’re considering buying or selling a property, why not chat with one of our friendly agents on 1300 438 439 to understand the state of play in your local market?
We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.
