A study of 120 homes currently on the market over a 12 week period has shown that those with immaculate presentation are a selling up to three times quicker than those that are not and this has become a critical factor in both price and time on market according to RE/MAX Western Australia Managing Director, Geoff Baldwin.
“Currently there are more homes available than at any time for the past 4 years which means that buyers are spoilt for choice and prices are much more competitive”, Mr Baldwin said.
“Obviously, if a buyer has a choice of several similar sized and located homes they will usually tend to buy the one that presents best and is less likely to need work.
“On the other hand they will put a line through any home that is in need of even simple maintenance or at best they will offer a much lower price than had it been in good condition.
“In this current market sellers cannot afford to let their listing go stale as the longer a property sits on the market the less people are likely to offer and a property with poor presentation is certain to be ignored.
“Throughout our group the current average time on market is around 52 days which compares favourable to the industry average of 70 days however properties with quality presentation are selling as quickly as 15 to 20 days or even less and are often attracting multiple offers.
“In a market where listing stock is low and buyer activity is strong sellers may get away with sub standard presentation but when stock levels blow out and buyers have so much more to choose from it is critical that homes are presented at their absolute best from day one on the market”, Baldwin said.
Media Contact – Geoff Baldwin