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If your property is underperforming, it’s not worth holding on until the traditional spring ‘selling’ season, according to some of the top real estate experts.
A survey of 25 real estate speakers for the Ideas Exchange property industry conferences has recently revealed that the idea of spring being the best season to sell in is no longer accurate.
After being given the question, ‘If a friend asked your advice on when to sell their home, what would you recommend?’, only 10 per cent of the panel recommended waiting until spring, while 90 per cent chose ‘whenever is convenient for you’.
Similar results emerged with questions about the performance of property sold in spring as well. Of those asked whether vendors would earn more if they sold in spring, 90 per cent of the panel said that the result would be 'about the same'.
In addition to this, 70 per cent believed the property would sell at around the same pace in spring, while 10 per cent thought it would sell faster in the traditional season.
Owners of Ideas Exchange, Real Estate Project’s managing director, Leanne Howard, said that spring is no longer the season to necessarily sell in.
“This survey of top agents, principals and other experts tells us that the market has evolved from the days when vendors needed to hold onto their property until the spring season.
“Life is faster today and neither buyers nor sellers want to wait months to get on with things anymore,” said Ms Howard.
The panel of 25 speakers included real estate award winners and specialists.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.
A real estate agent is a licensed professional authorised to act as a representative for buyers or sellers in a property transaction.
A vendor is a seller of a property that they own or selling on behalf of another person, receiving payment from the buyer.