There are a number of things to know before you delve into the real estate market in Brisbane, as it is quite a peculiar market. Some of these important factors are:
- Deciding on how you want to sell
- Finding a reliable real estate agent
- Understanding the local market dynamics; especially in terms of pricing and when best to sell.
So what should you know about the above factors?
1. Deciding on How You Want to Sell
Deciding on the structure of the sale you want helps give you clarity about selling your property in Brisbane. It is a well known fact that property sales, especially home sales can be especially tough on the seller emotionally.
Think of it as removing a band-aid; some people want it removed as quickly as possible, so as to suffer the pain once and get it over with. Some other people want to remove it slowly, deciding the prolonged but lesser degree of pain is better than the quick yank.
In real estate terms, the people who want to yank off the band-aid quickly are the sellers who would preferably use real estate agents and auctions, while the people who prefer the slow band-aid removal are the sellers who use private sales, where they aren’t under any pressure to sell quickly.
Whichever category you fall into, it is best to decide that early, so you know what path you’re taking and know exactly what it entails.
2. Finding a Reliable Real Estate Agent
The usefulness of selling your property by using a real estate agent is well documented. Even for sellers who want to do a private sale, a real estate agent can also be very useful. Mediation will be smoother, and you can secure the normally busy real estate agent’s full attention with an exclusive right to sell agreement.
There is an abundance of real estate agents in Brisbane, so you can find the top real estate agents in Brisbane here.
3. Understanding the Local Market Dynamics
Understanding the workings of a particular local market is crucial to the success of your sale in that market.
Each local market has its particular nuances that determines what works there. For instance, each local market has its network of agents, who already control particular areas of the market. Trying to buy or sell in that local market without prior consideration for this would be difficult.
There are two areas in which understanding the market dynamics comes in handy, and they are;
Carrying out a market analysis will help you understand what prices are charged typically in the market, and for what type of properties.
It is common practice to start with an online search, as it is much simpler and easy to do. But it doesn’t always give you accurate results.
A better way to go is to use a Comparative Market Analysis. A CMA would give you much more accurate results and help you set realistic list prices for your property.
Knowing When to Sell
Knowing when to sell is also crucial to making a successful sale, and you can’t know the right time to sell if you don’t understand the local market. For Brisbane, an overview viewpoint is that all seasons are suitable to sell properties, but just before Christmas is when buyers can get the most money for their properties.
This is because a lot of people would be rushing to settle down before the holidays, and the number of properties on the whole would not be so abundant.
The Brisbane real estate market is a special one. You can sell property all year round, even during winter.
Understanding how the market works would help you make better informed choices on how to sell your property in Brisbane.