How to sell a property for the most money, when thu is falling?

In recent months, the property market has seen a turnaround, with prices starting to fall after many years of continuous growth. If you are planning to successfully sell a property in this new situation, you need to approach the price realistically and adapt to the market.

What are the developments in the real estate market?

The property market, which for many years boasted a steady rise in prices, has turned around in recent months and started to decline. This development is due to rising mortgage rates and general uncertainty about future economic developments and the rising cost of living.

How will this affect the sale of your property? The media is full of reports of buyers demanding discounts and sales times increasing from weeks to months. However, there is still a chance for a successful sale of your property if you adapt to the change in the market and choose an appropriate strategy.

How was it until the spring of 2022?

Last year, it was common to sell properties at above market value as the market continued to rise and prices increased. Either we had an agreed strategy of gradually reducing the price with the sellers and we knew we would find a buyer within six months, or we sold the properties immediately at high prices. As long as the sellers were willing to wait for the ideal offer, we found a buyer reliably and both parties were delighted with the price achieved.

To hesitate to sell means to currently sell later for less

The situation on the real estate market has completely changed. Due to various factors, the demand for real estate is falling and prices are slowly decreasing. This change in the situation requires a new sales strategy. A strategy of gradual price reduction can be dangerous because the market can continue to fall faster than the seller reduces the price. This means that the selling price still remains higher than the market price and a buyer cannot be found. If a buyer does emerge, it may not be until several months later when the market price is even lower and the seller will therefore lose money. So that is strategy number one.

Starting with the right market price is essential

When selling in a declining real estate market, it's crucial to choose the right strategy to get the highest selling price. We recommend following the #2 strategy, which will allow you to get the highest possible sale price. It is important that the property valuation is carefully prepared and that the price is set in line with the current market situation. Every month that the market price drops and you sell later is likely to mean a lower sale price and an unnecessary loss for you as the seller.

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Will prices return to previous levels and when?

If you are thinking of selling a property, another option is to wait to sell until prices start to rise again to maximise the sale price. However, this approach requires patience as it is likely to take years, not months. In the past, it took up to 7 years for property prices to return to their original level after the last market crisis. Of course, it may not be the same this time, but learning from the past is the best we can do today. If you don't need to sell the property, waiting for a better time may be to your advantage.

How to sell a property for the most money when the market is down?