If I was a seller, in Bowral, Moss Vale, or Mittagong what would I do?
We all understand the market has changed in the Southern Highlands. Prices have moved and buyers are harder to come by. Even still, prices are historically high compared to 3-5 years ago, meaning there is still an opportunity for most owners to sell their property and achieve a significant capital gain.
Sell now? Or hold?
The decision of whether to sell now, in this market, comes down to this question: What else do you plan to do with the money?
Selling makes sense if freeing up capital will increase your freedom, reduce risk or liability, or allow you to invest in another asset like a bigger house, or a new business venture.
In short, selling is worthwhile if it allows you to do what you want to do.
Some owners with a mind to selling may choose to delay going on the market and wait for buyer demand to improve, but it's important to note that predicting market movements is extremely difficult. No one knows what is going to happen in future. Prices may fall or increase, or plateau for an extended period.
That's why we suggest working out what is right for you, right now. Rather than trying to predict the unpredictable.
Maximise your chances of success
Once you decide to sell, there are steps you can take to maximise your chances of securing a buyer in a reasonable period of time.
Step 1. Start preparing well before you go on the market.
● Rectify any outstanding issues with your local Council
● Take care of small repairs that would show up in a building inspection report
● Have a working bee in your garden
● Freshen up paintwork in well-worn areas
● Take a look at what else is on the market in your area
● Review recent sales
Understanding the current market in your specific area will help you make informed decisions regarding your property. Don't skimp on research!
Step 2. Look for an optimistic real estate salesperson with a plan.
Hire a real estate professional who understands the current market and can approach it with positivity. Avoid agents who come with a doom-and-gloom approach.
Step 3. Marketing strategy.
Decide on a marketing plan that will bring in customers, but one that ideally doesn't put a cap on your potential sale price (at least at the beginning).
We can work together to create a bespoke plan for your property that maximises your chances of creating a competitive situation and a great sale price.
Step 4. Invest in marketing.
In this market, it's all about standing out from the crowd. Use every promotional tool you can to attract buyers and keep them interested in your property until a sale is achieved.
Step 5. Be flexible.
Selling in this market can be a bit of a journey. Remember why you are selling in the first place. Trust the process and stay patient.
When it comes to reviewing offers, keep the big picture in mind and try not to let negotiating pride get in the way of progress.
Ready to chat about your property?
Mulholland Property specialise in helping sellers adapt to this new market. With our large database of local buyers, we can put you in a position to succeed. Get in touch today and let's talk about your real estate goals.