Selling? Offer right price, strike before summer

SELLERS are facing challenges finding buyers for their properties as demand and prices are flat, but stock levels are still rising, says Seeff ’s Stuart Manning.

And while banks are granting more home loans and there is desire to buy, many buyers are “waiting and watching”.

However, Manning says there is no need to wait as thousands of property transactions are being concluded on a monthly basis countrywide.

“Even in down market con- ditions, you can make a quick sale and achieve a good price,” he says.

To do this, five imperatives for sellers now include:

Choose a skilled local area agent: A strong local area agent who has been through the ups and downs is your best guide right now. He or she will help set the price range and will offer the best market.

Price in the right range: The mid- market range is always active. Ensure your property is priced in the range which is attracting buyers and sales. There is no point listing at the highest price ever in the street because while you may attract attention right now, you will not get a serious offer.

Differentiate from competitors: Ensure your property is in tip-top selling shape. With more properties to choose from, buyers will be highly selective and will certainly choose the property which offers the best condition at the best price.

Sell before the summer rush: Many buyers want to spend the summer in their new home, which means they will want to get their offers to purchase accepted during winter so they can spend December in their new home.

Consider all offers: Cash always trumps a subject- to offer and provides a more secure sale. If you are looking to test the market, now is not the right time. Be mindful of turning down any offer because it may be the only offer you receive for a while.