Timing it all to perfection
YOU know you’ve outgrown your house and really need to sell but, as an owner, how do you pick the right time to hit the market to get the best deal?
Corelogic Australia Real Estate head Geoff White reckons picking the actual month or season of the year you want to sell in can really be determined what sort of property you own.
“If you are selling a house with a lovely garden it is going to look better in the spring or summer. But, having said that, you need to be mindful that a lot more owners tend to list for sale in spring and summer so there might be more competition,” he said.
“And in a market that is coming back slowly one would argue that you probably would have been better to sell coming into winter than summer.”
If you intend to buy and sell within the same time period and area, Mr White said the time of year was not as critical in terms of timing.
“Personally, I think people get too hung up about the seasonal aspect and worry about something they shouldn’t really worry about.’’
When you do decide it is the perfect time to list, Mr White said be aware it would not always be an instant thing.
“There is some lead up time required to prepare everything. It doesn’t happen instantly the moment you sign up with an agent.’’
Also, important to consider when selling is to think about how long you want the settlement period to be.
The once standard 30 days is becoming harder for many buyers waiting on finance and could restrict the buying pool for your property.
“Consider 60 days or 90 days if that is what is necessary to get the deal done, also be prepared to settle quickly if you have a buyer who wants to get in faster,” he said.
Before listing you also need to ensure your property is presenting well before the marketing starts.
“This is critical,’’ Mr White said. “The greatest impact during a campaign is probably the first two weeks, so if it’s a new listing and buyers see this listing come on to the market, it has to be right. It can’t be half baked when it is launched.
“Consider before listing what improvements do you need to make to maximise its appeal, does it need to be renovated?
“At the very least you need to declutter, make minor repairs, get the garden in order and make sure all the small things are taken care of.
“This includes making sure all the light bulbs work, there are no grubby fingerprints on light switches and taps aren’t dripping.’’