Should I Stay or Should I Go?

To sell or not to sell…

Or in the immortal words of The Clash, “should I stay, or should I go?” appears to be the words on every would-be vendor’s lips just now.

Is now the right time to sell, or would it pay to wait?

Yes, there is a degree of uncertainty in the market. Will prices hold? Will interest rates rise again? Can we afford to move? Can we afford to wait?

Talking to homeowners right now, it seems anyone thinking about selling is concerned about this uncertainty and wary of taking the plunge. The result is that people are sitting on the proverbial fence and holding off taking any action while they deliberate. People feel stuck – and unless they have a particular reason for moving that is unavoidable, they are caught in an agonising circle of decision paralysis.

The fact is, that buyers are out there – if fact, we have buyers looking for the right property, right now.

So, what to do?

If you genuinely want to sell your home, you need to do so with the least amount of risk and cost. If you find the right selling agent, you will be able to assess the market reaction to the sale of your property and proceed to settlement only if you are totally happy with the offer or offers received.

1. Find an agent who does not charge up-front fees for marketing to mitigate your financial exposure. Interview agents thoroughly – make yourself a checklist of what’s important to you, and make sure you ask the same questions of all agents to ensure you are making fair comparisons and can assess the best agent for you. Check out this article on How Agency Selection can Make or Break a Successful Sale, for some great advice on assessment criteria and the 8 Questions Smart Sellers Ask, for help on crafting your interview questions.
2. Delve into the agent’s strategy. How do they plan to market and sell your property? Will they go for an off-market sale? Will they take it to auction? Is an auction the best way of securing the best price? What about private auctions? How could this route maximise your return on investment? What kind of digital footprint will be left behind in the event your property doesn’t sell? How will your property be shown? Does your agent only offer scheduled open-for-inspection times, or do they facilitate private viewings?
3. Always check the agents’ contract terms – will you be tied into a 90-day exclusive contract? Can you negotiate a shorter period? Or look for an agent with a no sale : no fee guarantee. That way, if your home doesn’t sell, you’re not going to be left with a bill to pay.
4. How proactive is the agent’s marketing? Do they just list and wait for buyers to find the listing and attend an open home? Or do they actively seek out buyers and create sales?
5. Is your property assigned to a single agent, or do they have a whole team working on your campaign?
6. Be realistic about pricing and what your property is worth in the current market. Don’t be seduced by the agent who values your home at the highest price to get the listing. It’s likely they will then advise a lower guide price to attract the maximum number of buyers. This tactic might work in getting more people along to an open home, but potential buyers will be quickly turned off once they realise your property is actually out of their reach. Look for an honest conversation about accurate pricing to ensure the best result. Read our article on Price Bating, in Issue 28 of our Real Estate Report.
7. Finally, look for an agent, who is happy to list and prepare your property for the market, and have your campaign ready to go at the right moment. This way, you are in full control, and you can give the green light to your agent to launch the campaign when you are ready.

If you have any questions or would like to learn more about our approach to getting you the best price possible, we are here for you, 24/7.

Call us for an exploratory chat to discuss campaign options, and/or book a valuation by calling Carol on 8006 2114, or emailing info@whitehausre.com.au