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There’s a lot more to consider when selling property than simply naming a price and placing a listing on a real estate website.  

In this blog, we outline five elements to note that can dramatically affect the sale of a property.

Local market

Research the history of neighbouring properties to understand local demand. Look at what has sold and when it was sold, attend open houses and auctions, and compare the state of play to establish the actual market value of your property.

Sale type

Sale type is one of the most important aspects of a successful property transfer. Options vary from tender to auctions to private sales, but the goal remains the same: to get the right price at the right time. Today, more and more buyers and sellers favour off-market sales, which are beneficial to buyers and sellers alike, saving both parties time and money.

Pricing

It might be a seller’s market, but it’s important not to overprice. Buyers who view an overpriced property will often disregard it even if you drop the price later. Properties will generate offers if priced at actual market value. And once the offers roll in, so does buyer emotion, which could end up driving the price up.

Timing

A high supply of similar properties in your area will make it more difficult for you to sell at the right price. If your circumstances allow for it, it might be in your best interests to stay put until the market improves. The timing of your sale will also affect the type of sale – i.e., auction, private listing or off-market – which will, in turn, have an impact on the offers you will receive.

Agent support

In today’s market, the best strategy you can put in place is a seasoned real estate professional who can walk you through the process and handle each step for you.

Focused on building relationships, a good agent will be privy to several off-market opportunities a week, have an array of marketing tools in their belt, have an up-to-date understanding of current market conditions, and get as many eyes on your property as possible. What’s more, they will keep a level head throughout the negotiation process. 

Secure the right price at the right time by speaking to a Hockingstuart agent near you. Our agents are skilled negotiators with thorough knowledge of the local markets where they work and live. We are wholeheartedly committed to achieving the best outcome for you at every step of the journey.