22nd June 2022 / Sarah Lowry: 7 Hot Selling Tips for a Cooler Market

Successful sellers will be measuring their expectations this Winter as we begin to experience a cooler real estate market, after a 12-month period of record-breaking prices.

Higher inflation and interest rates may start to temper buyers' exuberance, but it doesn't mean selling your property is a bad idea!

In fact, it's probably quite the opposite...especially if you're looking to purchase your next home once (or even before) your sale has gone through.

You could benefit from a more measured market. You've got little to lose if you've already locked in your mortgage rate to bolster yourself against future rate rises.

As a real estate agency with over 100 years of experience, we believe the first goal is to be a smart seller, so you maximise the value of your property.

It's a fine line between achieving this goal and holding out for an unrealistic offer that results in your home languishing on the market for weeks or even months. That is the worst of all outcomes.

Below, we've listed some key traits of a successful seller when buyers are more cautious and need a little more persuasion.

Be Realistic

This doesn't mean "be pessimistic". Smart sellers understand market values fluctuate. Maintain a perspective across the entire transaction of selling your current property and buying your next. What you might lose on the swings, you can gain on the roundabouts.

Enjoy the Gains

The past 12 months have seen record levels of growth in property values. They increased an average 21% across the country last year, according to industry research CoreLogic. So, even though interest rates are trending up, it's highly likely you're way ahead.

Research Your Market

Watch the price trends of properties that are similar in style and size to yours. Restrict your research to comparable houses or apartments. A benchmark price set by a contemporary home isn't relevant if you have a Federation home. Make sure you're comparing apples with apples when considering the value of your home in the current market.

Forge a Partnership

Choosing the right agent is important. You want a mix of experience and enthusiasm plus a strong record of negotiated outcomes is critical. We'd love to talk to you specifically about our approach and local successes.

Smart Marketing

Your agent will help identify your target buyer. Who will buy your home – is it a young family or a downsizer? Be clear on your prospective buyer or your home could remain on the market for weeks, even months. Including a targeted digital marketing campaign in your advertising schedule is a must, and your agent can give you a range of options that suit your home.

Dress Circle

You're competing against properties similar to yours, so you need to spend money on presentation. We'll discuss how to get the best return on your investment. Staging your property – using a stylist to select and install rented furniture for your marketing campaign – can be well worth the investment.

Hammer Time

You may be reluctant to go to auction if the market is subdued, but an auction can be an excellent way to understand exactly what the market will pay for a home like yours. If you're anxious, let's discuss those concerns. Some properties are ideal for an auction sale even in a cooling market, and an auction usually ensures you have a limited time on market so you can move on with your life.

Please don't hesitate to reach out to your local Fletchers area expert to discuss a sales and marketing strategy that works for you.