Fortunately for vendors, there are several things you can do to increase your chances of a speedy property sale.
The great news is, you don’t have to spend a lot of money to achieve a quick sale, says Paul Mylott, general manager of
“While many sellers will spend significant amounts when preparing a property for sale, such an investment may not be necessary,” he says.
“There are various ways to improve your property fairly cost-effectively, such as with a fresh coat of paint, or bringing your tired winter garden back to life by planting colourful flowers and greenery.”
As we enter spring, which is traditionally the property market’s busiest season, Mylott warns sellers that they’ll need to be realistic when pricing their property for sale – particularly if they’re seeking a quick sale.
According to Century 21 research, almost 80% of all properties that are offered for sale in Australia are placed on the market with a price.
When this happens, the property stays on the market for several weeks or even months, during which time the sellers will often gradually reduce the asking price to a more realistic figure.
“With a considerable number of properties on the market in spring, vendors must be prepared for the possibility that they will need to negotiate on price in order to achieve a sale,” Mylott says.
“To form an educated expectation about the price your property may be likely to achieve, buyers should look at data regarding comparable sales in the area, which you can get from sources such as RP Data. Your real estate agent should also be able to provide reliable information and work with you to set a reasonable price that the market will comfortably rise to meet.”
For homeowners who are looking to sell one home to buy another, a lower sale price may not be the end of the world, he adds.
“If you do have to settle for a final price that is lower than your expectations, this may not be too much of an issue if you subsequently go on to buy a property yourself in the same market,” he says.
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