There are a few significant controllable variables which will have the greatest bearing on the outcome of a property sale:
Lets take a closer look at these factors to understand how to optimise them for your selling campaign and therefore maximise your opportunities within the property market.
The difference between a good result and an outstanding result can come down to timing factors that are only obvious in retrospect but there are clear indicators of the best time to sell your property before you make the decision to take your property to the market. The biggest influencer of market pricing is supply and demand so this is a great place to start the assessment of when to sell. By looking at the macro market (properties for sale within the general area- usually your suburb is broad enough) you will be able to see the current level of supply via the number of listings available on realestate.com.au or domain.com.au. Comparing that to a 5 year average will give you a bearing on relative supply of properties at a macro level. Next is to look at a micro segment - price and amenity of comparable property - to see the relative supply. With this information you will start to form a picture of how the market environment sits for your property. The third metric to look at is time on market which can be viewed through RPData to see how long properties within your market segment are taking to sell. Shorter timeframes are a clear barometer of buyer demand.