The best time to sell your home is.
Don't underestimate how long it takes to prepare a home for sale, writes VERONICA MORGAN.
Tradition has it that spring is the best time to sell, so many people think the best time to list their home is when everybody else is doing the same. But many would-be spring sellers leave their run too late, underestimating how much time it takes to get their property ready for sale.
Buyers are not as seasonal as sellers think they are. All through winter, they have become dejected as they notice a distinct lack of listings. And when the property market starts to ramp up again in the first flush of spring, eager buyers are ready and waiting to compete for new listings.
Often a very good time to sell is during September and October, as the stock levels never quite match up to buyer demand. The laggards who get their property to market in November and December may not do so well. By this time, buyers are tired, there is more property to choose from and the balance of supply versus demand levels off.
Suddenly, buyers feel as though there is no urgency and they can take their time for a change.
The best time to sell is often early in the season, yet many would-be vendors dawdle in the lead-up to the warmer months and don't have their home ready until almost Christmas. However, buyers have an appetite for spring property from the start, and it is the early bird that catches the worm.
So, here are six things you need to start doing immediately that will have you ready for your first open home faster.
1. Choose your sales agent
Go to open homes - and auctions - in your area to find out which agents are the most active and who engages well with buyers. Get the three best in for an appraisal and ask them for advice on how best to present your property.
2. Street appeal
It is amazing the difference a high- pressure hose can make. Unless you are selling a "renovator's delight", ensure the paint is fresh, the garden is tidy and green, and the lawn is trimmed.
Let's face it, we all have too much stuff, so have a good hard look at what you need to live with day to day and start packing away excess books, ornaments and even furniture. After all, when you move, you are going to have to pack it all up anyway.
Get some storage organised offsite and start moving those boxes. Don't leave them in your garage; it makes it too obvious that you do not have enough space or storage in the house.
These days, buyers are not used to using their imagination, so engage the services of a stylist to help you present all your rooms in their best light.
6. Realistic price expectations
The one thing that will undo all your hard work on auction day is an unrealistic reserve. Obviously, you do not want to give the place away, but you do need to take your agent's advice, as well as do your own research on recent sale prices.
Veronica Morgan is the founder and principal of Good Deeds Property Buyers. She is also the co-host of the Foxtel series Location Location Location Australia which returns on Tuesday.
1. There will be more property coming on the market as the market warms - so don't panic in early spring and pay too much.
2. Have all your online "buyer alerts" set up in advance so you are poised to see all new listings as they hit the web.
3. Be ready to strike - finance approved, deposit arranged and find out if you need a valuation before an auction.
4. Have your advisers at the ready - solicitor/conveyancer, building/pest inspector, etc.
5. Be prepared with your own price research - find out what other places are selling for.
6. Do not get complacent when there is more to choose from closer to summer - it will not last long, as there will be a six-week period over Christmas with little new stock.
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