With Sydney thrown into lockdown, it is tempting to pull your home off the market but that is unlikely to be your best strategy.
Previous lockdowns almost cleared the sales board of properties as nervous owners withdrew to see what might happen next. But what we saw was a flood of buyers seeking too few properties.
This stress on supply and demand will only intensify during this current lockdown if there’s another wholesale withdrawal by sellers – and this could be great news if you stay in the game.
With even fewer properties competing for cashed-up buyers, you’ll be able to stay in control of the negotiation and your target price.
If you’ve had your property on the market for a few weeks already, then you don’t waste your sales momentum. If you do, you’ll need to invest for a second time in marketing when you re-enter the market.
Here are some key factors that will play to your strengths.
- Technology is critical – The pandemic has already proven that buyers are willing to consider properties based on videos, a virtual tour, quality floorplan and/or a 3D walk-through. In-person inspections are no longer a prerequisite. Ask us about those tours.
- Online auctions – Many clients will say this is a better, more transparent process than conventional auctions held on-site or at an auction house. Again, buyers have shown little reluctance to buying in this environment.
- Appraisals are still okay – If you’re thinking of selling, our agency can still provide that all-important appraisal service. We’ll mask up and take the necessary precautions, just as any tradesman in your home would.
- Private inspections – These can be organised for individuals only if they are required. The same Covid-related precautions would apply as when we’d do an appraisal.
- Pre-settlement inspections – Your buyer can still do this, as it is an essential step in finalising the sale.