In this ever-changing market as Agent’s we are asked “how long will it take to sell my home?” Unfortunately, I do not have a crystal ball and what I generally respond is that it comes down to these three factors: price, presentation and numbers.
Anyone that has been in real estate know this is a numbers game. What does that mean? Well statistically the more people that come through your property the more likely there will be a serious buyer. In this market in Bunbury it is very common to see properties sitting on the market for a lot longer than the owners would like. When I present a prospective client with a Market Analysis I always ensure I include the listed days on market. This shows comparables with the days it has been listed on the market, the original listing price and the sold listing price (if available) or the now advertised price.
There is an undeniable supply versus demand. Because properties are sitting on the market longer buyers sit, watch and wait. They know that there is no rush at the moment. Times are tough so why rush. Unless you build an Auction campaign you really are a sitting duck. There is no end point to the game whilst with an auction they buyer knows they need to act now!
The median sale price for Bunbury is the lowest in 5 years. I always ensure that I am honest with the owners that they are aware of the type of market they are selling in. There is no point beating around the bush, if they can respect this then they will also respect the price point you suggest.
Presentation is key. In a market where there is so much competition presentation is key. I always suggest (especially in winter) the heater on, fireplace if possible, candles and even music. People will walk in and relax straight away and picture the property as home. Will this sell your home, well no but, it sure helps when they feel comfortable enough to stay and talk about it.
Do not be disheartened about your property being on the market, make sure you agent sends you market reports to make sure people are still interested. Ensure you are getting the numbers through because at the end of the day it takes one buyer.