How to Sell Your Property Tip #1 – Identify Your Market
There are three types of selling markets. It is critical to know what type of market you are entering so your home can be strategically positioned.
1.Seller’s Market – This means there are more buyers than homes for sale. Exposure, condition and price are still very important if you want to sell your home for top dollar. In this market, many sellers believe they do not need to prepare the condition of their home, price it competitively or use a real estate professional for exposure. A home in top condition always brings the highest price. A home exposed to more ready buyers always sells faster and for more money because of the excitement and urgency marketing creates. Many sellers do not realise that finding a buyer willing to pay a price acceptable to a seller is only half of what I do. The other half is getting them through inspections and other problems that come up after the price is negotiated. This is where my skill and experience as a real estate agent becomes priceless. National statistics report that in a seller’s market, 15% of the homes on the market fail to sell in a reasonable time frame or not at all. Remember, there isn’t much difference between not selling at all and selling for less money than you could have.
2.Buyer’s Market – In a buyer’s market there are so many homes for a buyer to choose from that exposure, condition and price are critical. More than ever, you must have the very best condition and be priced aggressively. The choices are vast and without exposure, you will be lost in the crowd. In a buyer’s market, 30% of all homes listed fail to sell in a reasonable time frame or not at all.
3.Normal Market – A normal market describes an equal number of buyers and homes for sale. This appears to be the easiest market to sell in. In a normal market, 25% of all homes fail to sell in a reasonable time frame or not at all. It is because they missing one or more of the big three we talked about earlier: exposure, condition and price.
In every market it takes these simple three things to accomplish every seller’s goal: sell their home for the highest possible price, with the least amount of inconvenience in the time period they desire.
Now this is where things can get tricky. Homes within different price ranges or neighbourhoods can be experiencing entirely different markets or waiting for the ripple effect to take place. If now or in the future you can always email me with any question on “How is the Market” at firstname.lastname@example.org
Stay tuned for the “How to Sell Your Property” Tip #2 when I cover the all important and often confusing issue of “how to price your home for maximum results.”
Until then, Grant Matterson LJ Hooker Narrabeen
PS. Here is my Youtube Channel- https://www.youtube.com/user/beachesproperty