Thinking of selling? Why this Spring could be the best time to sell ever…
Spring has always been a busy time in real estate. Houses flock the market. Buyers are on the scout for a new home. It’s an exciting time to sell a house. But this Spring is especially exciting. Covid 19 has forced us to open our minds and do things differently – especially when it comes to property.
So, what’s changed and how can you take advantage of this as a seller?
Auctions back up and running
In some parts of the country, especially Victoria, Auctions have been restricted or banned for many months. But restrictions have lifted altogether in many states and are just on the cusp of opening back up in Victoria. If this is your preferred sales strategy, limited numbers could add a positive spin, because the restrictions keep the tyre-kickers away and encourage only the ones with a genuine interest in your property to attend.
Goodbye open houses, hello virtual viewings
The virtual world has been fast-tracked overnight in real estate due to lockdowns and isolations. We all knew it was on the horizon, but suddenly ‘some day’, or ‘one day’ has become ‘today’. The result is exciting for both buyers and sellers. Virtual viewings and 3D tours have become the preferred (and in some places, only) method for inspecting properties. Gone the days when real estate agents had to physically welcome buyers into your home. Now, you can now showcase your home and connect with buyers directly online more easily and more effectively than ever before.
Banks coming on board
Whoever would have thought the banks would willingly pause mortgage repayments? Yet they have. Banks today are open towards engaging with us in different ways. And because there are so many rival lenders cutting rates to woo borrowers from the major banks right now, there are some genuinely big savings for buyers prepared to shop around. All these things create choice and flexibility, driving buyer incentive.
Add to that, more efficient approval processes and faster online applications, and it’s more unlikely today that you’ll face delays or roadblocks to the sale of your property due to processing issues for buyer finance.
People uplifting due to remote working
Remote working conditions are creating waves of movement across the country. If people are allowed to work from home, why not live where they want to live and have a better lifestyle? This movement obviously creates opportunities for you as a seller, especially if your property is in a sought-after sea or country-change location. You have a ready-made marketing tactic at your hands to connect and appeal to buyers.
Across Australia, people are reconsidering what’s important to them. Suddenly, life seems short. Family are too far away. This mental shift is leading to people uplifting their lives to be closer to the people and things important to them. Australians are buying with their hearts and not necessarily with their heads – and as we all know, emotional buyers are often willing to pay more for a property if they fall in love with it.
Spring is in the air
There’s upheaval happening across Australia, and it’s happening during a season that’s typically busy in real estate anyway. Alongside all the things mentioned above, you can capitalise on the usual benefits Spring brings - warmer weather, beautiful gardens, longer days… Those of us that have been locked up are keen to get out and about to explore and start living again! The perfect opportunity for sellers.
Before you put your property up for sale, we recommend you do your homework. Research your local housing market. Check out the competition and compare similar sales in the area. Markets vary from location to location and the factors we’ve mentioned above may relate to one location, but not necessarily to another. You need to understand the appeal of your own property and how to tap into your buyer market.