3 Tips to Selling in Sydney’s Cooling Market

You’ve probably seen properties down your street which sold last year for a strong price and figured your own home is on par, if not better, right? It’s a common and reasonable assumption given the growth of real estate over the recent couple of years.

However, no one can deny that the last few months have seen this pace change.

There has been a lot of talk around every suburb in Sydney about the cooling state of the property market lately, and it has been far more difficult across the board to always get those high prices that were achieved pre-2018.

However, it doesn’t mean that you can’t get a great result!

In fact, as a person looking to sell, there are 3 things that you can do to help you get your home sold for the price it deserves.

What can you as a seller do?

In times like these where market conditions have been slipping, the three most important things to consider are as follows:

1. Choose the right agent

In a difficult market, you need the strongest, most experienced agent who you can depend upon. Speak to trusted agents in your area who have a list of proven results and solid testimonials, and discuss what they can do for you.

The right agent will provide the best advice and fight for the best result for you, so you can feel comfortable during the process knowing that you’re in the right hands.

2. Don’t cut your marketing budget

It can be very tempting to skim on promotional efforts when the market has been a little cool, but this is all the more reason to increase them! Buyers are being a little selective and are spoiled for choice, so you need your home to stand out and make it one for their “must see” lists.

Get professional photography, videos and drone shots done, advertise in the local papers and online, use social media, and perhaps consider some of the other more advanced packages that the premium agents offer, as they can really cut through the noise and put your property on the map.

For the slightly higher initial investment, the results will be definitely worth the spend.

3. Most importantly, don’t overprice your home

The biggest trap for sellers is making your initial price too high, without researching the local trends and taking into account recent changes in prices and buyer attitudes.

This can be a very costly mistake as it deters the smaller pool of buyers almost immediately. You’ll notice lower numbers at your Open Homes and eventually prolong the days on market.

Even if you reduce the price later, your home will become what the industry calls ‘stale’. This is where buyers have seen the property, noticed how long it has been listed, and avoid it because they assume something is wrong.

Your agent can provide guidance on this, but just remember, overpricing can price you out of the market and leave you disappointed.

How can Devine help you?

As experienced local agents, we’re all passionate about buying, selling, renting and investing in Sydney’s Inner West. But we’re even more passionate about helping our clients fulfil their real estate goals.

We can provide you with the right advice through our years of experience so you can rest assured that you’ve got the best by your side.

We’d love to be a part of your journey and help you get the best outcome, so if you have any questions, please give us a call on 8080 SELL (7355) or click here to contact us.

We look forward to working with you soon.

Steven Devine and the Devine Team.

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