It’s a big decision
Selling any kind of property is pretty much of an intense decision. This decision can either be against you or for you in terms of profit or loss. So, doing your market research before taking an action is crucial to a successful sale.
Look at the market broad-mindedly
Sometimes you need to look in a broad way to be able to see the complete picture. Newspapers love to create unnecessary hype which can confuse you; don’t let it confuse you! Do your own market research for everything but confirm thrice before sticking to a single fact.
The good news is that, the Sydney real estate market has seen a lot of positive improvements in terms of stabilization since the year 2017. However, we always emphasize on the fact that different markets have different traits. Focus on the micro factors which are related to your property and not the whole of Sydney’s property as the Inner West is a completely distinct area in terms of real estate.
What will be your first move?
Are you going to sell first or buy first? If you are planning to sell first, are the benefits going to be more than the ones gained by buying first? In either way, which step will you be standing on the property ladder?
Try to find out the value of your existing property. If that is good enough, you should go ahead with buying another property. However, if your current property is not standing a at good valuable position, it’s risky to move ahead for another one. Also, make sure to check your current circumstances and your financial condition to ensure that whatever decision you make is only going to move you forward and not backward or sideways. So, once again, your research is going to play a big role in this.
Don’t be hasty when it comes to the local agents
Local agents are going to make a huge impact on the success of your sale. They are the people whose job is to be completely immersed in the real estate market. They know each and every inch of it so using their years of experience, negotiation skills and working strategy can help you get your desired results.
If you are unsure about which agent is the right one for you, try to interview several local ones by asking them some common questions which you may have in your mind e.g. how much does my property worth? What can I do to improve the value of my property?
Don’t forget the buyer agents
If, by any chance, you choose to sell first and then buy another property, make sure you take full advantage of the buyer agents. Get one whom you think is experienced enough as the more experienced they are, the more aware they will be aware of the off-market opportunities and you will have a better chance of getting your next desired property at the right budget.