But I'm in no rush to sell!

But I'm in no rush to sell!

According to analysis by our company, 4 weeks is the optimum time for a house to achieve it’s maximum selling price. Agents with an average selling time of 30 days achieved 96.5% of their stated price.
So, what does that tell you? Whether you’re in a rush or not, the longer you leave your house sitting on the market, the less chance you have of getting optimum price.
You may think “I’ll just wait for the right buyer to come along”… and that may well be a good strategy, but in reality, once that buyer comes along (it may be 2,3,6,8 months later), you’ve been for sale for such a long time, they will almost certainly use it against you. They will use it as leverage when making an offer. These days with the internet, people will Google your property and be able to see an entire marketing history!
The better strategy would be to work back the dates you would like to be where you want to be. So let’s say you want to move to a bigger house and you want to be in that new house by September. We know the legal process can take 3 months and you need 4 weeks to secure a buyer, that means you need to be live on the market by April, beginning of May the latest (and that isn’t allowing for things that could go wrong like banks down-valuing, COVID and so on).
So rather than going on the market in January at an inflated price because that point you’re in ‘no rush’, hold off, price competitively and launch with the view of having THE BEST buyer secured at THE BEST PRICE POSSIBLE within 4 weeks.
Follow this advice and I assure you, you will have a smoother, less-stressful sale and house move!

If you have any property related questions or comments, I'd love to hear from you - feel free to email me anytime :)
Christos Nikolaou

Author: Christos Nikolaou

BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.

Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “But I'm in no rush to sell!” and is a certified advance negotiator.


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