When it’s time to sell your property, you always want to get the highest price possible. However, we sometimes tend to overprice our properties and they sit on the market for too long.
The longer you sit on the market the lower down the online search results you will go, until you get to the point where the demand is too low for a sale to happen.
Rule of Thumb
Though every situation is different, the “rule of thumb” we use is that if a property has been on the market for more than a month it is either under-marketed or overpriced.
It Starts with Your Real Estate Agent
If you want to maximise your income, you can’t trust your sale to just any real estate agent. You need an attentive, motivated agent with experience in the market who knows how to price and market your property for the best outcome.
Pricing
A Free Sale Appraisal and can price your house accurately the first time around. The usual process is to assess “comparables” in the area and find out what they are selling for. They should have a good process in place that will provide market feedback if your home is overpriced allowing you to make decisions and adjust your asking price before buyer interest drops off.
Marketing
Bottom line: you want a motivated and attentive agent who knows how to market your property. One basic rule: don’t use the “shotgun” approach. Instead, identify your target buyers and market to them. Don’t cut corners with photos, always use professional photography. The better the house is presented the better the interest you will have from buyers.
Feedback
If you don’t get an offer in your first 2-3 weeks, make sure you get detailed feedback from every buyer that has inspected your property. There may be things that can easily be improved in the home, increasing your chances to getting your sale.
