06 Dec 2016
Expert Tips For Selling Your Home Over The Silly Season

Expert Tips For Selling Your Home Over The Silly Season

Expert Tips For Selling Your Home Over The Silly Season
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Guid,Tips,Selling,Auction real estate agents

It’s a question that’s often met with mixed opinions– is selling your property over Christmas a wise strategy?

Selling up during Christmas time is often more challenging than if you were to put your property on the market during a traditional time of the year, say spring property season, but the reality is there are some little-known advantages to selling your property over the holiday break.

Steve Jovcevski, property expert at financial comparison site Mozo.com.au weighs in on the pros and cons of trading over the Christmas period.

The pros:

Competition among potential buyers is higher as the number of available houses for sale declines over the Christmas period. If your area sees a higher level of buyer competition during the festive season, you could be in a stronger bargaining position and may even receive offers above the original asking price.

Another major advantage is that house hunters tend to be more serious about closing a deal during the Christmas period with many likely to have already sold their home in spring property season and looking to settle in before the new year rolls around.

The cons:

The flipside of selling over the festive season is that there are also fewer buyers with many people going on holidays or too occupied spending time with their families. And it’s not just prospective buyers that go on vacation – real estate agents, solicitors and council staff are likely to be off too, so if you’re going to sell ensure all the paperwork is in place before the start of the holidays or expect a long, drawn-out settlement process.

Another drawback is that flaws in your home tend to be more apparent during the hot, sticky months. For instance, if you have a westward facing home that tends to heat up throughout the day, an inadequate cooling system or lack of shade could be deal breakers for potential buyers.

For those who have selling up as top priority on their Christmas to-do list, here are the five top tips for getting the right price for your home over the festive season:

  • Hire the right agent: Look for an agent with local knowledge about the area you’re selling in as well as how the holidays could affect your chances of securing a good sale.

  • Stick to your asking price: Be willing to say “NO” to offers that are significantly lower than your asking price. Many potential buyers during this time are aware sellers may be keen to offload their property and want to “bag a bargain before Christmas” but this shouldn’t be at your expense. If you can afford to, be patient and wait until you get the right offer.

  • Avoid auctions: Generally auctions aren’t the right selling strategy during the holiday season, because of the smaller pool of potential buyers. Instead opt to sell by private treaty where there is a greater opportunity to negotiate for a higher price.

  • Stage your home strategically: Giving your home a bit of a festive edge with a small Christmas tree and tasteful decorations could be an effective way to boost buyer appeal. However keep these to a minimum to avoid detracting potential buyers.

  • Maintain outdoor spaces: Your lawn is definitely one part of your home that requires more attention in summer, so ensure it is freshly mown and watered. You’ll also want to maintain any outdoor spaces like a pool or BBQ area, as these are big drawcards to buyers in the hotter months. 

If you would like any further advice about selling your home over the silly season, contact a Naked Agent today. 

Written by Steve Jovcevski

Expert Tips For Selling Your Home Over The Silly Season
Steve Jovcevski

Steve is Mozo’s property investment and lending expert. With an extensive knowledge of home loan products and property trends, Steve is full of practical tips to help first homebuyers, refinancers or investors build and get the most out of their property portfolio.

View all posts by : Steve Jovcevski

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