Ways to sell your property in a thriving market
When it comes to selling a property, there is more than one method available and in a strong market like the present, some sales strategies have clear advantages over others.
Ultimately, however, selecting the method of sale comes down to individual preference and the type of property in question.
So let’s delve a little deeper…
The current market
Right about now the market is running pretty hot. All data indicates property is in demand from multiple buyer segments, with first home buyers particularly keen, upsizers also active, downsizers seeking to make a move and investors now re-entering the market.
In many areas that’s leading to a shortage of supply, so in lots of cases properties are spending fewer days on the market and are attracting a lot of interest.
So what’s the best sale method?
In a market like the current one, auctions are proving particularly popular, and this sale method comes with a series of benefits.
An auction means your property’s sales campaign has a definite start and finish date. How? Well chances are your property will be sold by auction date. We say that with confidence because at present around eight out of 10 homes in Australia are selling prior to or at auction.
That said, some homes suit auctions better than others.
An auction is about competition, so the property needs to be in a desired location where there’s plenty of interest across multiple buyer segments.
Private treaty remains a hugely popular way to sell any property, and for some vendors it’s simply the method they are most comfortable with.
The art of a private treaty sale lies in pricing your property correctly to ensure there is interest and that converts to a sale fairly quickly.
An off-market sale means the property is not widely advertised, but instead goes out to the sales agent’s database of buyers.
With demand for properties high at the present, off-market is proving an effective sales strategy, allowing vendors to quietly sell their home with minimum fuss.
The thing to remember about an off-market sale is that there is less competition, because fewer people know the property is on the market.
For the right type of home, however, it can be ideal.
For sale by EOI or tender
When a property is for sale via expression of interest or tender, it is basically allowing the current market to set the property price.
At a time when we know demand is outstripping supply, that can potentially work to your advantage as a vendor.
However, sometimes this method for sale might deter prospective buyers who wish to have clarity around what price point a property is likely to fetch.
So what’s the takeaway?
Basically, now is a great time to sell a property at many locations in Australia. Determining the right method of sale involves understanding the options available and having a frank discussion with your sales agent about which method is likely to suit your home and circumstances best.
How we can help
To speak with a sales agent to understand the current value of your property and the best sales methods available, you can contact our expert Eview Group team here.