Ready to put your house up for sale? Getting the timing right is paramount. While there’s no such thing as ‘the perfect time’ for selling a property unless you have that crystal ball I’ve always been keen to acquire (do let me know if you have one). Keeping the following things in mind may help you realise a higher profit.
The best season for selling
Spring is the most popular time to sell, when days are longer, warmer and sunnier. You may want to consider the first half of the season: buyers tend to pay more when property listings are limited, and in September and October buyer demand is high while supply is yet to reach its seasonal peak. Come November and December, the demand-supply balance usually levels off.
Of course, this is not to say that you can’t put your home on the market in winter, summer or during the holiday season, but people might be less likely to spend their time browsing for new properties. Autumn, however, could be a good ‘second choice’: with fewer listed properties vying for attention, you may find it easier to catch the eye of a keen buyer.
What is your target market?
Understanding who your potential buyers are, what they want and when they might be ready to take action is critical. Is there a sought-after school in your area? Families may be on the look-out for a home in time for the start date of school. Is your house a good investment property, based on its location and features? Then the end of the financial year may be a good fit.
Plus, peak selling months vary depending on the region. Do you live in a coastal or rural town that doesn’t get a lot of visitors until summer or, on the contrary, becomes a ghost town during the holiday season? When trying to get the most viewings, these are all key considerations.
Be ready to strike
Ideally, you want your house to appear at its best when potential buyers come and have a look at it. But sellers often underestimate how long it takes to prepare a home for sale.
If your property is not in tip-top shape, you will need time to make improvements, declutter and deep clean. Once these tasks have been completed, your property will be ready to shine at its brightest.
Consider getting an expert on the job
Some people choose to sell their home privately and save on the cost of commission, but if you’re considering going solo, it’s important to weigh the pros and cons.
From an outsider’s point of view, it can be difficult to keep up with the ever-changing market conditions. Real estate agents know the ins and outs of the housing market (how similar properties have sold in your area, for example) and should be able to advise you on the best time to list your home, including you how long it may take to sell. Finding the right real estate agent can be the key. Remember, they need to be working for you.
So, how do you find the right agent? It’s a good idea to attend open homes and auctions, and identify two or three agents who are active, competent and engage well with prospective buyers. Also, try asking your own networks as there should be no ulterior motive to their recommendation. A good agent will be able to help you market your property in any season.
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