How Long Does It Take To Sell A Property?

This is a question that is frequently asked by many Australian citizens, especially those who want to sell their houses. There is no precise duration for selling a house. It varies depending on some factors and prevailing circumstances. It is important to understand that there are a number of steps that you will be required to follow when you want to sell your house In Australia. Remember that you will need the services of a property agent.

Property agents are people with skills, knowledge, and experience in buying and selling houses. They know how and where to get clients. They will save you from the hassle of looking for buyers. They will enable you to sell your house faster than you could have done it on your own. But you will have to pay them commission for services offered. Commissions are negotiable and rates vary from one state to another. The most important thing is to ensure that you get the right property agent.

But the question still remains, how long does it take to sell a property? The average time to sell a house in Australia is 66-77 days. We are going to provide you with important information about selling property in Australia for your benefit.

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Decision Making

How long it takes to sell my house will depend on the duration it will take to make the decision. I cannot just wake up in the morning and decide that I am are going to sell my house. I need to look at a number of factors and determine if it is necessary to sell my house. If the size of my family has increased, I can sell it off and buy a bigger house. You can also decide to sell your house if have been transferred to work in a different state. It is also wise that you live in an area near your place of work for your convenience and to reduce transportation costs. The quicker you decide, the faster it will take to sell a house.

Choosing Property Agent

The duration for selling a house will also depend on how long you take to choose real estate agent. The agent will be tasked with the responsibility to advertise your property to prospective buyers. They will also help you to complete the legal requirements for selling your house. There are many property agents in Australia. You should therefore take your time and do research before making a choice. This will help you to get the best real estate agent for the best service.

Methods of Sale

How long it takes to sell a house will also depend on the method of sale. You may choose auction. This is where you and your agent agree on the price of your property. The agent will then choose a specific date to conduct auction in an attempt to sell to the highest bidder. This may take some time especially if the price set is high. Another method of selling property is fixed sale. You and your agent can assess the value of your property to help you determine the price. Once a fixed price has been set, advertisement begins and potential buyers may initiate purchase. We also have asking price method. This is where buyers have the freedom to negotiate the price of a house. If you are in agreement, you can go ahead and sell it. This method is much quicker. It can reduce the average time to sell a house.

how long to sell

Determining The Selling Price

It is important that you determine the selling price of your property. This may take time and therefore delay the selling process. You will have to consider factors such as size of your house, its location, age and any feature that adds value to the house. You need the services of an expert to help you in estimating the value of your house. An expert will help you to come up with the best selling price. The faster you arrive at the price, the less duration it will take to sell your house.

Reaching Agreement

Reaching an agreement with your real estate agent may take time. You need to agree on a number of things such as rate of commission, estimated price, cost of advertisement and more. You will then sign an agreement to bind the contract with your agent. This can be used in court of law if any dispute arises.The less time you take to reach agreement, the faster the selling process will begin.

Advertisement

Frequency of advertisement also matters. If you have enough money and you want to sell your house fast, you can pay for advertisement on TV, newspaper, radio and more. If your property is advertised frequently, you are likely to get potential buyers fast. This means that it will take a shorter period to sell your house or property.

Signing Contract

A legal contract has to be signed by lawyers from both parties; buyer and seller. Bank details will be provided and signed appropriately as a legal requirement. This may take also take time.

Parting Shot

If you have been asking yourself the question, “how long does it take to sell a property?”, you now have your answer. It varies depending on the factors discussed above. Learn to choose agents that offer the best commission rates.

Looking for a good real estate agent to sell your property?
Instantly compare all local agents, sales, avg fees & marketing costs