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How to sell your home in a buyers’ market?

Published on June 15th, 2020
  Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
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Selling your house on the property market when it is a buyers’ market does not have to be a daunting process. However, there is more to it than just tidying up and listing your house. These are a few handy tips that you can use to prepare your property for sale.

What does it mean to be in a buyers' market?

Understanding what it means to be in a buyers' market is essential. This basically means that there are more properties that are on sale in the market than there are buyers to buy them. What this means for you as a seller is that you will have to compete with other sellers to attract buyers. Knowing what can make you stand out can let you avoid having your property sit on the property market for too long.

How to stand out?

Preparing your house for sale means researching and marketing your property the right way. Looking at the current sales and data of the property market in which you find yourself in can be useful in pricing your property correctly. Knowing how to market your house can also be useful along with having pictures of your house to make your property stand out. Remember to view your house the way a buyer would to market it correctly.

Give buyers less work to do

Buyers want to know what your property is all about off the bat instead of having to hunt for information. This means listing all the possible pull factors about your property to get buyers interested. List interest points of your property such as:

  • Being water and energy efficient
  • Land size
  • If it's close to important public amenities

Try to avoid long-winded descriptions of your house, but include keywords that can be picked on by buyers when scanning through your property features.

Know how to spot a serious buyer

No one wants to entertain time wasters as this could mean you are missing out on serious buyers. Knowing how to spot time wasters can help you quickly move the process along. A serious buyer will already have a pre-approved home loan in place and the necessary documents to proceed with the sale process. You will also be able to know in terms of:

  • How long they have been looking which will also highlight where they are in the home buying process.
  • The type of questions they ask can reveal the level of interest in your property.
  • The amount of time they spend observing your house is a clear sign. Someone who rushes through the checking process will most likely not put an offer down.

Get an agent on board

Who better to position your property in a good way than an estate agent? It is possible to do this on your own, but you will really need to know your numbers and the market well. However, it is also important to side with an estate agent that has a proven track record and also the data to back what they claim. The same goes with choosing a broker or a financier that offers you a home loan. Therefore, it pays to compare your options.

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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.

The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.

Approval for home loans is always subject to our lender’s terms, conditions and qualification criteria. Lenders will undertake a credit check in line with responsible lending obligations to help determine whether you’re in a position to take on the loan you’re applying for.

The interest rate, comparison rate, fees and monthly repayments will depend on factors specific to your profile, such as your financial situation, as well as others, such as the loan’s size and your chosen repayment term. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, aren’t included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate.

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