I wrote an article some months ago about timing the market. In a real estate sense that often means buying at the right time, selling at the right time and sometimes often both. When it comes to the selling part of this equation, what will affect your end result more than correctly timing the market is actually the time you spend on the market once it becomes available sale. Days on market can vary between different areas, however the principal of minimising your days on market remain the same.
Over the past 10 years the real estate websites have become popularity barometers that track the interest in any particular property. The level of how popular, or how much interest is or was in a property, is tracked two measurements, the amount of viewings it receives and how long it sits on the market. Simply put, unless the property has a special feature that will only suit specific buyers, the longer it sits on the market, the less likely it is to have an optimum result. This does not mean the property will not sell, every saucepan finds its lid eventually, it just means that its probability of selling at a premium diminishes over time by visually remaining for sale and looking unpopular. Over time active buyers just think there is something wrong with the property. Generally there are only two reasons properties sit on the market (especially in our current market), it is either incorrectly priced or there is something physically wrong or unappealing about the property. Both of these can be addressed, it is the timing of when they occur that matters most.
The key to maximising your property result is relatively simple. Have a clear strategy from the outset that is specifically suited to your property. Your strategy should include your presale works and presentation, your method of sale, the call to action that your method of sale includes, your review dates, your pricing, your marketing and how this will be targeted at your probable buyer (target market), your best and worse case scenarios.
Every vendor and property has a slightly different journey once it is on the market because every property is different and the people involved are different. So designing a strategy with your agent that is best suited to your property is very important, as once it hits the market the popularity barometer is ticking.