Establishing the “right” price when selling your home is a balancing act that needs to take into consideration a number of factors. Your price point should be as high as possible….but also appealing to potential buyers. However, you don’t want to cheat yourself with a price that’s lower than your home’s worth.
Emotions really do get in the way of a strategic price for listing your home. Most home owners overvalue their home because they are attached to it and because they are more than aware of the money they have spent / invested into it. Unfortunately buyers don't have the same feelings and ultimately the art of pricing houses for sale is a balancing act between setting a price as close to the price that the home owner wants and one that attracts the largest pool of potential buyers.
Statistics show that the best price to market your home to potential buyers is the one that is most in tune with what similar homes in your local area are selling for.
Think back to the last house you purchased. When you were browsing the internet for potential properties to look at did you often make sure you noted down properties that appeared to be under priced (bargains) even if it was ever so slightly? What about the properties that you felt were way over priced. Did you rule out those properties or did they become less desirable to you?
Our experience is that properties priced at true market value get far more home inspections and ultimately achieve higher prices. Why? Simply put buyers see value and when inspecting the home they are often met with other buyers when inspecting the house. This creates competition whether real or perceived and as a result drives prices up.
“Order a no free no obligation comprehensive market analysis now to establish how much your house is worth today in your local market. Call Marc on 0455 150 990.”
It is important to price your house to be found in the dominant real estate search engines. Buyers often use and give agents working on their behalf price ranges that they are prepared to buy in. In Newtown for example the vast majority of buyers serachig in the 300k to 400k price band. It is imporant to make sure you are priced to attract the most potential buyers.
A price point above 451k would exclude all the buyers in that price point. Here that would be a terrible mistake, even if you wanted a price point above 450 you would need to price the property at or below 449K. If you would like to know more in relation to specific price points to maximise search results feel free to email your question to email@example.com or alternatively give me a call on 045 150 990
A seasoned agent understands that the market dictates the price point. Any serious buyer needs to understand that the market is constantly changing. It really isn't a set and forget procedure. Feedback and constant market analysis ultimately determine the price that a house should be marketed at.
Premium prices are achieved when agents create competing interests in a property. That ultimately should be the goal for any agent when listing a house for sale.