Pricing Your Property to Sell

Perhaps the most important question facing you right now concerns the price you should ask for your property. You certainly do not want to sell it too cheaply, nor do you want to prevent it from being sold by overpricing.

Consider the following points:

The Price Your Property Will Achieve

In simple terms, the price your property will bring is determined by what someone is prepared to pay.  This is influenced by recent sales in the area, other properties currently for sale, and the way in which your property is marketed. Details of recent sales and current competition pertaining to your property are set out on the Comparative Market Analysis we have specifically prepared for your property. Working together, we can use this information to establish a realistic sale price for your property.

Over Pricing

Overpricing is the surest way to kill a sale because most serious buyers are familiar with the market and will not visit properties they think are overpriced. Conversely buyers who do visit an overpriced property immediately compare it to properties which genuinely fit the price range and will eliminate it from their list. Properties which sell quickest are usually those listed at the market price.  Overpriced properties stay on the market for a long time, and usually only sell when there has been a substantial reduction in their price. Unfortunately the price then has to overcome the stigma of a stale property.

The Ideal Scenario

The ideal scenario for you as a vendor is to have multiple buyers wanting your property at the same time. This causes upward pressure on the price as opposed to the downward pressure which occurs when only one buyer is in play. One way to achieve this is via a public auction. However we only suggest this method of sale if we believe it suits the property.  As a result our ‘sell at auction’ percentage is currently over 90% well over the state average of 60%.

Your Agents Responsabilities

An agent is responsible for two things in the sale of your property. The first is marketing the property to attract the right buyers. The second is negotiating the highest possible offer from those buyers.

Lastly, it is important to remember that real estate agents DO NOT KNOW how much your property is worth to another person. We can provide you with evidence and our experience but beware an agent who pretends to know exactly how much a property is worth to another person.