While properties can sell within a day to a week in a seller’s market, it takes up to three months and sometimes more in a buyer’s market as we are currently seeing in many areas.
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The challenge then arises when you need to sell your property as quickly as possible. While this might be difficult, it can be done, according to the Seeff Property Group.
Here is how:
It cannot be overstated that the asking price must be attractive enough to immediately attract buyers. There is no time to waste on testing the market. Listen to the agent and follow their advice.
Get the property into an immediately sellable condition. It must be clean and well maintained. If there are areas which are for example unfinished or in a broken state, then it will likely diminish the chances of a quick sale.
READ: Boosting your home's value: 10 tips and tricks before selling
Even at a lower price, many buyers are simply not interested in home repairs or renovations, and they will rather pay a little more for a home which needs no work, says Seeff.
Make sure you choose a top agent in your area. Area specialists usually have good insight into the types of buyers attracted to the area, and can give you the right advice in terms of how to prepare the property, and at what price to list.
In some cases, you can sweeten the deal by leaving certain items behind. Window coverings might be one area, especially if they are customised, or in neutral colours. That will save the buyer from having to get new curtains or blinds.
READ: Pre-purchase checklist: Steps to take before purchasing a property
Ensure that your house plans and all documentation needed for the sale and transfer are in order and ready to go as soon as an offer is accepted. If you are appointing your own conveyancer, then be sure to have all of those details ready as well.
Ensure all utilities and other costs, as well as your taxes, are up to date as these could cause delays in the transfer of the property. You should also get all the clearance certificates done quite quickly as this will provide peace of mind to the buyer and facilitate a smooth transfer process.
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Be flexible with viewings so that any potential buyer can be easily accommodated with a viewing before their attention is distracted to another property. Ensure the property is tidy and attractive so that the buyer can find no reason to look for price discounts.
You should also be open to all reasonable offers. Cash is always king, even in the event that the offer might be lower than another offer which comes with suspensive conditions such as finance required, or if the buyer is still selling a property first.
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Extra tips:
David Jacobs, Regional Sales Manager for the Rawson Property Group, previously shared in an article published 30 June 2023 (read full article here), that to improve your odds, he suggests doing the following prep work, alongside any specific recommendations from your real estate agent:
Deep clean – there’s nothing quite like a layer of grime to put a buyer off. Put some elbow grease into getting your property squeaky clean and shining, including windows, carpets and curtains.
Declutter – make your home feel more spacious by clearing out as much clutter as possible. Pop those doodads and knickknacks in storage, clear your counters and garage corners, and unstuff any closets that appear overly full. (Storage space is a big selling point, so make yours look as large as possible.)
Depersonalise – our homes are normally safe spaces to express our personalities and our views on religion, family, politics and more. When showing your home, however, it’s best present as neutral a picture as possible, removing items of a personal or controversial nature to make it easier for buyers to imagine their own lives in your space.
Leave it to the pros – most buyers feel awkward exploring a space and asking difficult (but necessary) questions about a property under the watchful eyes of its owners. It’s far better to take the family – including any furry kids – out for the day, and let your agent do their best work with complete focus.
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