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.