Price key to a quicker sale

Pilbara News - - Property - Hay­den Groves Hay­den Groves is the pres­i­dent of The Real Es­tate In­sti­tute of West­ern Aus­tralia.

Perth sell­ers need to meet the market when pric­ing their home

The lat­est reiwa.com data shows that 45 per cent of sell­ers are hav­ing to dis­count their prop­erty in or­der to sell and the av­er­age amount they’re dis­count­ing by is al­most 7 per cent.

If you’re sell­ing or con­sid­er­ing sell­ing, you need to adapt to the cur­rent market con­di­tions.

With it cur­rently tak­ing an av­er­age of 70 days to sell a prop­erty in WA, you want to do ev­ery­thing in your power to en­cour­age a quicker sale.

Get the price right from the start. Pric­ing your prop­erty ap­pro­pri­ately as soon as it goes on the market is key.

The num­ber one rea­son why a home stays on the market for an ex­tended pe­riod is be­cause it’s over-priced. If you want to sell, you need to be re­al­is­tic about price.

A suit­able price will at­tract more buy­ers and, sub­se­quently, more of­fers and com­pe­ti­tion. Con­sider auc­tions. If you’re strug­gling to sell and not will­ing to com­pro­mise on price, per­haps con­sider sell­ing your prop­erty via auc­tion.

Auc­tions are gain­ing pop­u­lar­ity in WA and are a con­sid­er­ably faster way to sell, tak­ing an av­er­age of just 28 days.

Sell­ing via auc­tion can help your prop­erty stand out from the com­pe­ti­tion and sep­a­rate the gen­uine buy­ers from those just brows­ing. Pre­sen­ta­tion is key. With plenty on of­fer for buy­ers, you’ll need to take a lit­tle more care and ef­fort when it comes to pre­sent­ing your prop­erty.

While you don’t need to do a full blown ren­o­va­tion, mak­ing some cos­metic im­prove­ments to the prop­erty, in­clud­ing the gar­den and any fenc­ing, can go a long way in at­tract­ing more buy­ers.

Buy­ing and sell­ing at the same time.

If you are buy­ing and sell­ing si­mul­ta­ne­ously un­der sim­i­lar market con­di­tions, the state of the market is al­most ir­rel­e­vant. While you might not sell for a price you want, you’ll also be buy­ing in a market that favours buy­ers with plenty of choice and com­pet­i­tive prices. Get the facts. When you’ve made the de­ci­sion to sell, do your re­search and find out how the market is per­form­ing in your lo­cal area.

There are buy­ers out there and we know that if your prop­erty is priced cor­rectly, from the start, it will be snapped up by those ea­ger to buy their first home, trade up or down­size.

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