If you’ve been searching up online terms like ‘how to sell a house fast’, the answer depends on the market environment of your suburb.
If your area is currently experiencing a seller’s market, you’re in luck. A seller’s market can typically be identified by consistent demand for properties, high auction clearance rates, short marketing campaigns and selling periods, and prices that demonstrate inflation and rapid increase over the past six months.
Opting to sell during a seller’s market is one of the best ways on how to sell a house fast. A seller’s market means the demand for properties is so high that you can essentially list your property when you’re ready to – no need to wait till spring when the garden is in bloom. It also means you ought to be able to negotiate a competitive agency commission fee due to the influx of properties available and competition between agencies.
If your suburb is in a buyer’s market, you may need to be more discerning in your approach. Buyer's markets reflect favourable conditions for anyone looking to purchase a home. Among the causes of a buyer’s market are decreasing property prices, small numbers of listings, low auction clearance rates (60%) and a longer-than-average time to sell a house where homes remain unsold for several weeks.
Learning how to sell in a buyer’s market may mean you may have to accept a lower figure than you’d hoped when selling property, and that agency commission fees may be higher due to the lack of properties available. You may also need to invest more in marketing your property and staging it in order to set it apart from other similar listings.
Your selling agent will consult with you about the current market and strategically time your marketing campaign to best reflect your property’s street appeal and engage your target demographic.