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Figures from CoreLogic’s Property Pulse have found that Australian properties are taking longer to sell. According to the report, it took an average of 45 days to sell by private treaty across Australia at the end of 2017, and an average of 40 days across the combined capital cities. This was up slightly from 2016 when it took an average of 44 days nationally, and 37 days for the capital cities. While the average time to sell might be on the up, there are things that buyers can do to help reduce their property’s time on the market.
Don’t scrimp on presentation – Presentation can be the key to a successful sale. Buyers want to see a property in its full glory and might be hesitant about making an offer on a property that doesn’t look up to scratch. Sellers should therefore take the time to make minor improvements before a property hits the market and invest in professional staging.
Price the property for the market – A higher price tag doesn’t necessarily equate to a higher sale price. If a property is priced too high compared to what the market is willing to pay then buyers will simply look elsewhere. This could result in a property being on the market for an extended period, or possibly not being able to sell at all.
Invest in effective marketing – Ensure that your property gets as many eyes on it as possible. This might mean getting it featured on online real estate portals, or using other marketing tactics that are suitable for the particular property and the types of buyers it’s trying to attract.
Listen to agent feedback – There are a variety of reasons why a property may not sell quickly. If your property’s sale isn’t going as fast as you would like then chat to your agent and work together to try and find a way to fast-track the selling process.
Professionals Companies, members, directors, offices and employees do not give warranty to the accuracy, reliability or completeness of any information provided in this newsletter and shall not be liable for any loss or damage suffered as a result of anyone relying on information provided in this newsletter. Professionals recommends you seek advice from your own financial, taxation, and legal advisors before entering into financial or other transaction. E. & O. E.
