When is the best time to sell your property?
If you’re selling property, you’re probably wondering which time of year you’re likely to find the right buyers. Successful property sales are achieved by considering a range of factors, including selecting the right time to sell.
If your property is left on the market for months, selling can become a stressful experience. Likewise, properties that are left on the market for extended periods are less likely to attract the price you are looking for.
Using the services of an estate agent is helpful as you’ll benefit from their professional experience in the real estate market.
Who buys your property?
Once you have decided to sell your house, you will need to consider when to start advertising your property. Understanding who buys at what time of the year can help you to put your property on the market at a time that you’re likely to find buyers.
Young couples, as well as young single people, typically start their search for a property earlier on in the year, usually in January or February.
If you’re selling an apartment or a unit in a complex, it’s advisable to put your property on the market during these months.
This type of buyer normally takes their time to view numerous properties before making a decision.
As property sales are made by first-time buyers of a smaller home, the sale of detached homes and larger properties is supported.
Families are more likely to search for real estate during the school term as they are usually away during school holidays. It’s also easier for parents to browse properties when their children are busy at school.
Older couples and single people, who are downsizing their home, usually search for a new property during the warmer seasons. These buyers usually look at fewer properties and decide whether to buy or not quickly.
When you’re selling property, it’s best to avoid advertising it over the festive season or during summer holidays.
People are busy with other proprieties during these periods, which make it less likely that they’ll spend time looking for property at this time.
Preparation of the property and yourself
Before you put your home on the market, make sure you are properly prepared. Ensure that your home and garden are in good condition before you invite potential buyers to view it.
You should also be prepared to accommodate the needs of the buyer if you do secure a sale.
Make sure that you have another place to live if the buyer wants to move into the property soon after the sales agreement is made.
Therefore, it important to prepare properly before you advertise your house to make the best first impression.
Involving an estate agent when selling property
If you decide to use the services of an estate agent, make sure that you pick the right professional to assist you. Choose an estate agent that is well-known and who comes with good recommendations.
Ensure sure that they have the right training to carry out their role efficiently. Before you sign the agent’s listing agreement, you should stipulate the duration of the listing contract.
Your agent may offer you advice on a suitable duration, but ultimately, it’s your decision. In order to decide on an appropriate duration, you’ll need to understand the advantages of different listing time periods.
If the property market is good and homes in your area are selling quickly, then you may choose a 30-day listing period.
If other properties are selling fast but your agent doesn’t manage to secure you a buyer, you can relist your home with another agent after 30 days.
A 90-day listing is a common option that is suitable for normal markets. If you have advertised your property for a reasonable price, you’ll typically get many potential buyers viewing it during the first month.
To increase your chances of success, check with your agent for buyers’ feedback. You can increase your chances of selling your property for its listed price by implementing reasonable suggestions that prospective buyers make.
These suggestions may pertain to the condition of your home or to the asking price. In bad markets, when property sales are low, a 180-day listening period may be applicable.
A one-year listing may be required if you’re selling property that’s in a remote area. Likewise, expensive properties or large plots of land may take longer to sell.
Now that you know more about selling property, you can list yours on GotProperty and get the ball rolling.