Australia’s property market has entered a new phase due to cooling in the market. It may be a good time for buyers but that are also good opportunities for vendor to achieve a great price.  The approach to selling your property is slightly different from two years ago. 

Here are some tips you might consider when selling your property


Get the Right Agent

In a softer market, the skills and resources of the agent are essential, so it is important to engage the right agent to market your property. Buyers are far more cautious in today’s market, that’s when you really need an agent that is experienced, very enthusiastic about the process and really engages well with buyers, rather than just relying on advertising to bring buyers to a property. 

Don’t just go with an agent that gave you the highest valuation price or with the cheapest commission.


Marketing Approach

A blanket approach to marketing a property will not yield the best results in a buyer’s market. Advertising that work well for a 4-bedroom family home in the outer suburbs may not work well for a sleek inner-city warehouse conversion and vice versa.

Consider carefully what type of campaign might be right for your property. Presentation is important when marketing your property.


Educate Yourself

Taking the time to do your research, speak to agents and attend other auctions will give you a better idea on what your property is worth and what represent a good result.

With the transition in the market, most properties are selling in the price guide rather than above the price guide like they were 12-18 months ago.  Vendors that are well educated around the current market, take advice on having a clear strategy and have been realistic in their expectations will have the most successful auction results.

As clearance rates were lower than a year ago, most vendors choose private sale or expression of interest campaign to sell their property. However, auctions are still effective in achieving an unconditional sale and generally sell in four to six weeks versus private sale selling in 60 days.

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Are you thinking about selling or renting?