The Australia Real Estate Market Downturn & Selling Privately.
It’s no secret that the Australian real estate market is already experiencing a downturn with many Australians eager to sell their properties, through desire or need, asking themselves the all-important questions. Where do I start and is now a good time to sell?
Well, what many home sellers don’t know is that moving into the autumn months and with “property prices expected to fall this year fall by about 5 per cent in Sydney and 6 per cent in Melbourne”*, now is in fact the perfect time to sell and for sellers to review their approach by selling their own property themselves.
So Why Autumn Is The Best Time To Sell Your House?
With the changing of colours and crisp, romantic mornings, but it can also be a great time to sell your house as it’s quality over quantity.
The Christmas frenzy is well and truly over.
Fewer properties to compete with.
Stable weather, stunning scenery.
Selling Privately Provides You With An Edge In A Buyer’s Market.
Despite the downturn in the local real estate market many Australians are still achieving their desired sale price and increasing their margins by to selling their homes privately and achieving significant cost savings, as opposed to going through a realtor. And here’s why:
Less Commissions = More Money For You.
Commissions for real estate agents are typically around 2.5%.
So if you were selling your house for $500K for example, the
commission is around $12,500. When using a seller agent, this commission comes off the top of the property sale price and is typically shared between your seller agent and the buyer’s agent.
Direct Access Provides Prospective Buyers With Vital Information, Gives You More Control And Can Speed Up The Process.
By providing buyers with direct access to the seller (you), it allows the seller to build a 1-on-1 connection with prospective buyers, creates a swift, easily managed Q&A dialogue around the property and enables you to share all of the key facts about the local area, history of your home and vital information that real estate agents may not
have access to or forget.
Selling your home privately also enables you to control the listing, advertising, pricing and showing of your home in the way that you see fit and pivot swiftly as needed. Plus if you decide to sell your property for a little less than the market average, you can still get more than what you would without real estate agent commission and prospective buyers also benefit from the cost savings, creating a win-win scenario all around.
Assuming that you have the time and inclination, there are bountiful resources available online (including our own PropertyNow Step-By-Step Guides and Tutorial Videos) to upskill, educate and empower you to use all of the key tips & tricks for selling your home private privately. One of many ways that the digital age has revolutionized the property market.
And yes, we’re happy to help out too. If you’d like to know more then contact us below and we can empower you with the initial advice to get you started.
Your journey to selling privately starts now.
Want to know more?
‘3 reasons why autumn is the best time to sell a house how to sell your house in a buyers market’
‘How to sell your house in a buyers market’
*Reference material: Australian Financial Review – Irresponsible agents blamed as top-end property plunges by 40pc. Author: Duncan Hughes. 22nd February 2019.