Benefits of accurate pricing The important objective of selling your home is to obtain the highest price possible in the shortest possible
time. But the primary objective is to have your home SOLD! If by attempting to price to high – your home doesn’t sell, then your objectives aren’t met. Benefits of correct pricing: Faster sale Less inconvenience More prospects Agent enthusiasm Higher offers (price is like a magnet attracting buyers – the closer it gets the more it attracts) Higher nett equity Should you select an Agent based on the price they suggest ?
Benefits of accurate pricing The important objective of selling your home is to obtain the highest price possible in the shortest possible time. But the primary objective is to have your home SOLD! If by attempting to price to high – your home doesn’t sell, then your objectives aren’t met. Benefits of correct pricing: Faster sale Less inconvenience More prospects Agent enthusiasm Higher offers (price is like a magnet attracting buyers – the closer it gets the more it attracts) Higher nett equity Should you select an Agent based on the price they suggest ? You have two important decisions: Selecting an Agent on service and Marketing Plan Together establishing a Marketing Price Real Estate Agents don’t establish price – the market place does ! So under no circumstances should you select an Agent based on price. Professional Agents have the confidence to tell you the truth about the market and their role is to sell your home. All the exposure in the world won’t sell an overpriced home and an Agents enthusiasm about your home will not increase its value. Ideally you should select your Agent first, then, together you should determine the price. Setting your asking price. Think back to when you purchased your home, how did you determine what to pay for it at the time? You probably compared this home to all the other homes on the market and arrived at a value based on that comparison. With technology, the internet is a useful source for buyers to compare areas, entry level pricing, average to top end pricing as well as features. However, remember that SOLD properties determine the reality of the market. A current market analysis is like an x-ray of the market. A professional Real Estate Agent can provide you with a detailed look at the reality of the market – so that you can make an informed decision! “Our home is better that the others!” For a home to seem better than the other it must surpass the following criteria: FEATURES, SIZE m² and LOCATION (Permanent and Unchangeable) The first thing people think of when buying is: WHERE IT IS LOCATED! We all think that our home is the best – but remember to be objective when determining its value… buyers will be. Remember – Market trends will definitely influence your pricing strategy. “We have had a previous valuation from an Agent which was higher!” You need to assess – When was that valuation done and what was the purpose of that valuation? The more recent the appraisal the more accurate the figures. Changes that affect it are: Interest rates – affects the affordability of the market Additional homes for sale – it’s simple economics, the more houses in supply, the less the demand “Buyers can always make an offer” Your asking price is like an exclusive invitation to buyers only in that price range – the right price attracts the right buyers! If you overprice, you attract buyers in a higher price range with higher expectations. Wrong price attracts the wrong buyers. Don’t allow your home to become invisible to the right buyers, and stale in the marketplace. “We need the money” Your need for money has no effect on the value of the home! Would you pay more if you knew the owners needed the money? Educated buyers recognize a fair price and will be far more likely to pay it. Overpriced homes stand out in comparison to market related homes. Buyers use it to compare and to justify the purchase of another property. You’d be better off turning down a few low offers than not getting an offer at all. Your destination property doesn’t affect the value of your current home. Would you lower the price of your home knowing that the person purchasing your home comes from a lower priced area? Statistics indicate that buyers move up in price by up to 50% more than the selling price of their home. Getting the pricing right In short, regardless of how well you renovate, present or stage your home, it is still important to price the home appropriately. It’s not always imperative to be the lowest priced home on the block or in the complex, particularly when aesthetic and other significant improvements have been made. However, it is important that the listing price is not out of line with other comparable homes in the market. Try to put yourself in the buyer’s shoes and then taking your agents advice into account, determine what a fair price might be. For more information or assistance in accurately pricing your home to sell…. contact your Kevin Real Estate Agent on 0766439972 or
