The Importance of Pricing Your Home Correctly
Category News
One of the most important factors in determining how quickly your house will sell is making sure that you set the correct price from the moment you list the property.
Sellers overpricing their properties to allow for some "breathing room" during negotiations risk waiting months, or even years, for their property to sell before inevitably dropping the price in order to make the sale.
The particular danger here is that the longer a property, an incorrectly priced property, remains on the market, the more potential buyers will be put off from the aging listing, with the perception that the property is overpriced or flawed in some other aspect.
In the current buyer's market, sellers want to achieve the best possible price for their hard-earned assets, while buyers, perhaps now more than ever, are in search of good value for money.
Bearing this in mind, how is it possible for the two goals to meet and achieve a successful sale?
This is where the importance of market-relevant pricing comes into play.
In the modern digital age, buyers are able to easily view the specific property in question, and through online property portals compare against other homes in the area.
To achieve a fair and accurate valuation, one should start by considering the prices achieved by similar property sales in the area, as well as numerous other factors such as the condition and exact location of the property and any nearby schools, public transport, rates and levies and general market sentiment to name a few.
Another consideration should be the mandate of the sale. Typically, properties on an exclusive or sole mandate achieve a better selling price and also generally sell more quickly. This is largely attributed to the ability of the agent to work closely with the seller in devising an optimal pricing strategy, compared to properties sold on an open mandate where multiple agents are involved and nobody is effectively able to manage the pricing.
With so many variable factors to take into account, the best way to successfully price your property for a swift and profitable sale is to work with a trusted Property Specialist who has an extensive understanding and knowledge of your area.
Contact us today on 084 515 4067 or email info@homeandhectare.com to get in touch with one of our Area Specialists and let our expertise guide you in the sale of your property.
Author: Home & Hectare
