Yes, spring is commonly noted as the best season to sell a residential property, but with that belief comes more competition. Summer offers good weather and allows families to move during school holidays and be in place by the time school begins.
“Although summer is a busy time of the year with businesses closing, people going on vacation, and the holidays in full swing, it can also be a great time to sell. Any season can work in the seller’s favour and summer is no exception, you just need to know how to best utilise your property to fit the season,” said Matt McCann, CEO of LocalAgentFinder.
Here are Mr McCann’s five tips to selling your home during the summer months.
1. The price is right
As the owner of the property it can be easy to let your emotions (and bank statement) to get in the way of setting the right price.
Overpricing your property will not only result in a slower sale, it will also put off potential buyers who may not be easily won back over. If your property is sitting on the market for too long buyers will also begin to believe there’s something wrong with it.
Mr McCann says pricing within 5 per cent of market expectations is the best strategy for a quick sale.
2. It’s all in the agent
Seasoned investors will have heard this before but selecting your agent based purely on their commission is the wrong strategy. A bad agent on your sale can completely derail the process and cost you a lot more in the long run.
“A good, dependable agent will give vendors a realistic, achievable price within market expectations, provide sales history from properties in the neighbourhood, and give a property valuation based on numbers, not on sentiment or a showy sales pitch,” said Mr McCann.
3. Marketing is king
“A general rule shared by most real estate agents is that vendors should spend approximately 1 per cent of the total anticipated sale price of their property on marketing, however this will vary depending on the type of property as well as the local market,” said Mr McCann.
Work with your agent to ensure the marketing plan lines up with your expectations, but this is another place you shouldn’t be hunting bargains. A decent marketing campaign might be pricier than you were expecting, but you should get the money back in a quick sale and achieving your asking price.
4. The importance of a good first impression
Never underestimate a good first impression, your agent should be able to guide you in this area, but giving the property a good clean to make it look it’s best is a good place to start.
Don’t forget the exterior, buyers can make their minds up before they’ve even entered the front door. Mr McCann said investors should make the most of summer when selling properties in these months by encouraging sunlight into the home and making sure all shiny surfaces are cleaned so they reflect the light.
If you’re completely unsure of how to stage your property for selling, you can invest in a property stager who will handle the process for you.
5. Stay cool
A property located in an ideal summer location, such as near a beach, should make this most of this and have windows and doors open to display how the property benefits from cool breezes.
If your property has a tendency to overheat during the summer months it might be better to avoid selling during peak heat, but properties which tend to get very cold in winter will definitely benefit from a summer sale.