Pricing Your Property Right

This is one of the most important factors that will determine if a property gets sold or not.

My job as a real estate professional is to help you predict what most buyers will be willing to pay at the particular point of the market if the property goes on sale.

This is known as the fair market value. The old adage says that there is a buyer for every home – at the buyer’s price.

Three major factors determine how your property should be priced.

• The property’s condition.

• The current real estate market and economy.

• Recent transactions in the area and current units available for sale.

Should you price above fair market value and hope for an offer?
Do not get your head turned by the agent who promises sky high prices for your property if you engage him. It could turn out to be a very costly mistake. If you are serious about selling your property, it should never be priced above the fair market value.

• You will lose the golden period during the first 30 days.

• You will help to convince buyers that other fairly priced properties are a better buy.

• You will end up showing the property to the wrong group of buyers. If your property is worth $1.5m but you decide to put it up at $1.8m, you are now trying to compete against fairly priced properties that are worth close to $1.9m. How can a $1.5m property pit itself against a $1.9m property? This is an unfair comparison and naturally your unit will be dropped because it has been shown to the wrong group of buyers – buyers expecting to buy a $1.9m property.

If you are serious about selling and you price your property wrongly, you will very likely end up selling at an even lower price further down the road. As a seller, is this good for you?

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Feel free to get in touch with me if you would like to clarify any of the points above. When you choose to work with me, I bring to the table: detailed market analysis, integrity and your best interests at heart. Experience what many others already have. See their testimonials here.