The season of sold

It's probably healthy to be a little cynical whenever a real estate professional suggests you should sell. Try calling up your local agent and asking about it - miraculously, market conditions seem to be always perfect for you to list your property for sale immediately.

While 'spring selling season' might seem like more self-serving rhetoric, the difference is you'll also hear it discussed by economists and other analysts who stand to gain nothing from the trend. There's some fairly compelling evidence supporting an annual surge in property buying activity in October and November. Here's what to know, and how homeowners can take advantage.

Is spring selling season real?

Some property experts dispute whether it's anything more than a myth that there's a surge in demand in October and November. After all, buying property is normally a decision predominantly based on subjective circumstances, and spring selling season sceptics argue the typical homebuyer jumps into action as soon as their finances are in order, regardless of the season.

However, the data suggests there's more to the spring selling season than a tired stereotype. Research from PropTrack has found in most states and territories, there tends to be a slight price premium as the days start to get warmer.

Nationally, prices are 0.78% higher in November compared to the average for the rest of the year - an extra $6,600 on the national median as of August, according to Cotality. In Perth, Hobart, and the ACT, November is the best month to sell, while in Melbourne and Brisbane, it's October.

Historic November property price premiums

Source: PropTrack

Getting ready for the selling season

With stock on market low and clearance rates back above 70% in late August (per Cotality), it looks like it could be another strong spring for sellers.

On her September appearance on the Savings Tip Jar podcast, REA Group Senior Economist Eleanor Creagh said she's expecting a "pretty busy" spring selling season.

"We're already seeing a more synchronised upturn in home prices around the country," she said.

"Demand is looking [likely] to increase into the spring selling season.

"Already the pace of home growth is accelerating in markets that have been lagging, and at the same time, the supply of stock for sale is pretty constrained."

PropTrack Senior Economist Eleanor Creagh says there's set to be an uptick in property turnover in October and November.

The caveat, of course, is that the spring selling phenomenon isn't exactly a secret. Since many homeowners are also familiar with the surge in demand in spring, listings are likely to increase accordingly. If you're expecting you'll be able to pop your property up for sale on Halloween night and just sit back and wait for a premium offer to roll in, you'll probably be disappointed.

Managing Director of Turner Real Estate Lachlan Turner says it's important to be a "motivated seller".

"Great presentation, proper pricing, and professional marketing are the most critical elements for attracting buyers," he told Your Investment Property Magazine.

Here's how you can take full advantage of this selling season:

Marketing

While the odd interested party might pass your property while walking their dog and notice the 'for sale' sign, the listing is the lure that will attract the majority of potential buyers. Sales agents can help make your listing as enticing as possible, but Mr Turner suggests hiring other professionals to help your property stand out.

"Professional photos are very important," he said.

"Just like people engage a wedding photographer to capture their big day, a modest budget for a professional photographer will deliver significant results when selling an asset of such high monetary value.

"The right photos can make your home stand out in a crowded market and get more buyers through the door."

The price your property is listed at is arguably the other most important part of the listing. You obviously want to get the biggest sale price possible, but you also don't want the price to be too high for realistic buyers to come across it.

Many people sort properties using their borrowing capacity as a maximum price, so if you're realistically hoping to get, say, $800,000 for the property, listing it for $900,000 might mean a lot of potential buyers don't even see it.

"If you're using a price guide, the number needs to be spot on," Mr Turner said.

"Your agent can discuss recent sales and advise on a price that will attract maximum attention."

Presentation

Even once your spectacular listing has got a line of potential buyers 'round the street at the inspection, your job isn't done. While the "vibe" or "feel" of the property might seem arbitrary to you, many homebuyers, particularly owner-occupiers, are easily put off.

It should go without saying, but making sure the house is clean and presentable is non-negotiable.

"Give your house a deep clean," Mr Turner recommended.

"This isn't just a quick tidy up, think about cleaning carpets, windows and scrubbing down all surfaces to make the house sparkle."

Beyond the obvious, Mr Turner has several more practical tips for sellers getting their property ready for an inspection.

Lachlan Turner (image supplied)

Lachlan Turner's top tips to prepare your property for inspection

• First impressions are everything: "The exterior of your home, or its curb appeal, is the first thing your buyer sees. Make sure your garden is neat and tidy. This includes mowing the lawn, weeding garden beds, and perhaps adding a fresh layer of mulch."

• Take a minimalist approach: "Declutter ruthlessly. Go through every room and remove personal items, excessive furniture, and anything that makes the space feel cramped."

• Create a safe and inviting environment: "Go through your property to fix any safety hazards. This includes repairing uneven surfaces or tripping hazards and removing any obstacles from pathways, especially near exits."

• Brighter is better: "Brightly lit spaces feel larger, cleaner, and more welcoming. Make sure all light bulbs are working and consider using brighter bulbs when needed. Open all blinds and curtains to let in as much natural light as possible. If an inspection is scheduled for the evening, turn on every light in the house to create a warm and inviting atmosphere".

What can I do before an auction?

According to Mr Turner, if you're selling at auction, pricing is even more important.

"Listen to your agent's advice on where to set the reserve price," he said.

"They will have reviewed feedback from prospective buyers throughout the campaign.

"Setting a realistic reserve is key to a successful auction."

Once the auction begins, sellers need to be prepared to respond decisively if things go in an unexpected direction.

"If the bidding doesn't reach the reserve, you may need to adjust the price or be open to changing conditions, such as offering a longer settlement period, to secure the sale," he said.

Header image from Pexels