Home seller’s can make more money on their property by selling when the market is slow, according to renowned real estate trainer and director of Ozway Realty, Barry Liddle.
Selling your home at the right time could add tens or even hundred’s of thousands of dollars value onto your property, due to the time-proven concept of supply and demand.
“When most people are selling, that’s when you want to be buying and when there are buyers out there and no-one’s selling, you’ve got a better chance of selling at a higher price. You have to think out-side the box”, said Liddle.
Liddle says that ever since he began selling real estate, beginning in 1998, he noticed a clear trend for when more properties come on the market and when they slow down. “February to April and then again in Spring, mid September till November have the highest volume every year.”
Statistics from the Australian Property Monitors (APM) website back up Liddle’s experiences about market trends.
The statistics show that most suburbs in Sydney had significantly more sales in Spring compared to Winter and in most cases, the median prices were higher in Winter.
In Woollahra, there was almost 65% more home sales in Spring 2011 compared to Winter of the same year and houses sold in Winter went for a median price more than 10% higher. That equates to hundreds of thousands of dollars difference in average prices between houses sold in Winter and Spring.
Paddington, Moore Park, Bondi Junction, Bondi Beach, Tamarama and Maroubra all experienced between 30-42% more sales in Spring and yet prices were between 5-6% higher in Winter which equates to between $45,000 – $70,000 difference in median price.
“A property was put onto the market in Surry Hills on Thursday night and by Saturday had attracted over 76 buyer enquiries”. Several genuine buyers inspected the property on a rainy cold winters day and an offer too good for the owner to refuse was made at the first inspection” Liddle said. The main reason for this high level of enquiry Mr Liddle states was “due to there only being four other similar properties competing for buyers attention, where as in Spring there is likely to be eight to ten similar properties on the market at the same time and not 200% more buyers in the market”.
“There are always buyer’s but unfortunately there aren’t always the homes to sell them”, Liddle says. “This leaves the seller with the higher bargaining power and that’s the environment that can add extra value onto a home especially if you have the right strategies to market your property.”
When selling a house, it’s important to think about all the aspects that will help you get the most for your property and getting the right advice may help you make a decision that saves you time, money and hassle. For example, many people work hard renovating their homes through the Winter to be ready for a Spring sale but in some cases, the reward is not worth the hard work.
Sellers often renovate to maximise the value of their home but profits can be limited by supply and demand, so timing when your home goes on the market can be a more important factor to consider.
“It’s about recognising an opportunity, being smart and hopefully adding five to ten percent onto the value of your home and that can mean $50,000, or even $100,000”.
Liddle says that there are certain homes that would suit a sales campaign in the Winter months and these houses can fetch significantly more than if they were sold in Spring or Autumn. These properties all have 3 common features and fit a “Winter Success” profile”.
What do they say in the land of the blind? The one eyed man is king. The same is true in the real estate market where properties that may not have large market appeal can produce distinctive competition in the market when there’s nothing else to choose from.
To discover if your best chance of success is in Winter… and if your property fits the “Winter Success Profile” simply call the friendly team at Ozway Realty on 1300 307 239 and press “0” for reception or complete the online more information form here.
They can also show you how the Ozway approach (It’s not your typical Auction or Private Treaty method) can help you sell your property for significantly more regardless of the market.
To view client feedback on the team at Ozway Realty, click here.
If you would like to find out how Ozway Realty’s new Ozway approach can help you sell your property for more call 1300 307 239 and press “0” for reception or email firstname.lastname@example.org now or complete the online more information form here!