Bathurst Blog

When property markets are influenced by external factors or changes in economic conditions, there can be fluctuations in how fast a property may sell. There are additional factors that can also limit the length of time that it takes to sell a property and important factors to note if you are considering selling.

Price

If a property is priced well, irrespective of the market conditions, it will sell in a shorter period,

potentially in line with the time frame that you may be wanting it to be sold. If a property is overpriced, it may sit on the market for a much longer period or may not sell at all. As time goes on, you may find that offers received will become lower as potential purchasers try to negotiate given the length of time that it has been listed.

Presentation

If a property is presented well, it will likely achieve a higher sale price and sell faster in a quieter market. Prospective purchasers will look at the property with an emotional view, especially if they are looking to live in the property rather than invest. As such they will look at the presentation from the view of seeing themselves living in the property. Presentation is key to achieving more prospective purchasers especially if the property is well priced and marketed well.

Personality and Home Inspections

Personality can be questioned as a potential turn off to buyers as it is a style throughout the property that may suit you not them. The people that want to buy your home will visualise themselves or their families living in it and of course tenants if they are looking to rent it out. The knicks knacks on the shelves and the portrayal of family photos could be working against you. A home stylist can stage your home for sale and decorate your house when you're looking to sell to best suit the largest percentage of buyers. 

You’re trying to sell your home so give every potential buyer the reason they can visualise themselves in the house and be comfortable making the sale. Hanging around at home during inspections could leave buyers on the edge, as they may want to just have conversations about the home with themselves and the agent without you around. Try to let your buyer move around your home freely to give every chance of you selling your home.

Renovations don’t suit

Some renovations are great to suit your lifestyle, but have a think to whether it may suit the necessity of potential buyers. If you have turned a garage into a bedroom or games room, consider turning it back to its original space as most people may view it as a place for parking cars. Bedrooms that have been made into home theatres and office spaces might be best bringing them back to their original purposes to allow a view from the buyer’s perspective. You may think why? Or this is too simple, but your home could be one of many that potential buyers are looking at and they may look elsewhere if they can’t picture themselves suiting your home. 

Marketing

A good agent will be aware of market conditions, have a good track record, and communicate with you on all possible scenarios of the sale. They will work with you on a marketing strategy that presents your home in a positive light to prospective buyers. They will also have a good database of key contacts to market the property to and a social media or print strategy for success depending on the property and the type of buyer that they are trying to attract to your home. The team at Raine & Horne Bathurst can guide you through these processes.

If your property is well presented and priced right, and still not moving in the market, it is wise to sit down with your agent and talk about what may have gone wrong or areas that could be improved. Is it the marketing? Is it the presentation or price? Are they reaching enough prospective buyers? Are there other strategies that the agent could or should be using? When you have the magic mix of price, presentation, and marketing just right, offers will come through, however, it is also up to the agent and you as the vendor to respond to the offers effectively and don't let the opportunity pass you by.

Selling your property gives you the opportunity to take the next step. Try to give every reason why someone would want to buy your home. The team at Raine & Horne Bathurst can help you every step of the way when it comes to selling your property.