Price Counseling by Michelle Holdsworth.
The Key to Selling!
The key to selling property in today’s uncertain economic climate is to price it right. It really is as simple as that.
Statistics show that properties that are priced right will sell within 30 days. If your listing price matches the market value of your home, you are in business. The market value is defined as the price that current buyers will be prepared to pay.
To arrive at this correct value it is vital to work with a professional estate agency that has the knowledge and expertise to guide you in deciding on your listing price. Here is how Harcourts Dolphin Coast can help you:
5 Tips to pricing right:
1. Don’t choose the agent who gives you the highest evaluation. Choose your agent based on their service and marketing plan and on their competence and reputation. The best agents have the confidence to tell you what your property will sell for and they will have a service record. However, 60% of agents choose the first agent that sees them.
2. Compare your home with other properties that are on the market. Buyers always comparison shop. They know the competition and the price these properties are selling for.
3. Don’t rely on appraisals from the banks or the municipality when deciding on your price. If you had an appraisal done for insurance, it will generally be higher. If it was for tax purposes or for a mortgage bond it will be lower. The most important factor is what will the banks finance it for?
4. Don’t add the cost of renovations onto what you paid for property. Value is a function of not what’s in a home, but what you get out of it. Most improvements are done for enjoyment and not for resale purposes. Would you have done all the improvements if you knew you were going to sell? Most people would say no.
5. Don’t price high and then tell agents that prospective buyers can make offers. The right price attracts the right buyers. If you attract buyers looking in a higher price range, they will expect more. Telling a purchaser that they can come down in price will give them the impression that there is something wrong with your property.
5 Benefits of pricing right:
1. Educated buyers recognize fair prices. If you price properly you can hold firm when you get bargain buyers with cheeky offers. If your property is overpriced, buyers will use it to justify buying another property.
2. The best marketing period is in the first few weeks of your property being listed. This is when there is lots of activity and responses that will never happen again. Remember that many buyers get websites to notify them of new properties. If your price is right, buyers who would be interested in your home and who can afford your home will get notified. The opposite of this is also true, if your home is priced too high, the right buyers will not get notified and people will lose interest in your listing.
3. Your property will sell faster and with less inconvenience.
4. Agents working on marketing your property will work with more enthusiasm as they know it is a sell able, well-priced home.
5. The bottom line is that the higher you price your property above the market value, the lower the offers will be and the longer your property will be on the market. If you want to be the next property that sells, you must price your home right.
At Harcourts Dolphin Coast we pride ourselves on assisting sellers with a thorough marketing plan and price counselling advice that will change FOR SALE into SOLD in the shortest time for the best price. Call us on 032 946 2331 and check us out at www.harcourtsdolphincoast.co.za or www.ballitoproperties.co.za.Please add your content here.