Don’t reduce the price of your home!

The latest reiwa.com data shows that 52 % of sellers are having to discount their property in order to sell and the average amount they’re discounting by is almost 7%.

 

So potentially, the $900,000 that your agent “felt” really “positive” about turns out out to be $837,000 after two and half months of frantic Friday night cleaning sessions for what seem to be endless Home Opens.

If you’re selling or considering selling, you need to adapt to the current market conditions. Otherwise, like so many others, you’ll need to discount to get a sale.

Discounting your property can often mean it takes longer to sell. With it currently taking an average of 70 days to sell a property in WA, you want to do everything in your power to encourage buyer competition that results in a great sale price, quickly.

Get the price right from the start

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 over-priced. If you want to sell, you need to be realistic about price.

A suitable price will attract more buyers and, subsequently, more offers and competition.

If you follow my listings you’ll have noticed that every one of them is offered to my VIP buyers ‘off-market’ before they’re advertised to the public.  In around 30% of cases, they sell off-market.  For the remainder, the home owner gets a fantastic overview of what qualified buyers, looking for homes like theirs, think about the price and the presentation. At the end of a short off-market campaign they have all the information they need to price and present their home correctly.  An education which might otherwise have taken months on the public market and thousands of dollars spent on advertising.

Over the past 12 months my clients have enjoyed a market leading average of just 14 days on market coupled with an average sale price within just 1.6% of asking price!  To discuss a strategy for your home, feel free to get in touch, 7 days.

Wayne Heldt.

Leave a Reply

Your email address will not be published. Required fields are marked *