Professionals Stirling Clark
Shop 31M, Hawaiian's Forrestfield, 20 Strelitzia Ave Forrestfield
08 9453 1888
08 9453 6020Contact us
If you’re on the market or considering selling, you need to adapt to the current property conditions. Otherwise, you may need to discount to achieve a sale, which can lead to significantly longer selling times.
The latest September quarter 2017 data shows it takes on average 70 days to sell a property in WA, so if you want to beat the average you need a strategy to encourage a quicker sale.
Pricing your property appropriately as soon as it goes on the market is key. The number one reason why a home stays on the market for an extended period is because it’s considered over-priced by the market. If you want an expeditious sale, you need to be realistic about price.
A suitable price will attract more buyers and, subsequently, more offers and competition. If you’ve not had an offer to buy within the first four weeks’ of coming to market then you need to consider either the asking price or marketing/selling methods being adopted.
Consider expressing the price differently such as a price range or shifting to an auction campaign.
Auctions are gaining in popularity in WA and are a considerably faster way to sell, taking an average of 27 days for a seller to secure a buyer. While listing numbers are relatively stable across the Perth market, stock levels remain higher than the long term average.
Selling via auction can help your property stand out from the competition and separate the genuine buyers from those just browsing.
With good choice for buyers (particularly in select markets), you’ll need to take extra care and effort when it comes to presenting your property. While you don’t need to do a full blown renovation, making mild cosmetic improvements to the property, including the garden and any fencing, can go a long way in attracting more buyers.
If you are buying and selling simultaneously under similar market conditions, the state of the market is almost irrelevant. While you might not sell for a price you want, you’ll also be buying in a market that offers adequate choice and competitive prices.
When you’ve made the decision to sell, do your research and find out how the market is performing in your local area. Speak to local REIWA agents in the areas you’re interested in buying in. They’ll be best placed to give you an idea of what’s going on in and around your area.
You can also do you own research by accessing the latest unbiased market data and suburb profiles on reiwa.com.
There are buyers out there and we know that if your property is priced correctly from the start, it will be snapped up by those eager to buy their first home, trade up or downsize.
To learn more about your local market, visit the WA market section.
Author: REIWA President Hayden Groves