Find out why HUM & FEA are Hope Island's leading real estate agency.
What is the Right Price?
Whatever your reason for selling, the key to selling your property within a reasonable amount of time could very well be the agent you choose, and the price tag you put on it whether you're in a buyers’ market or a sellers’ market. Your Real Estate Agent is responsible for one of the largest financial transactions you will ever make. Ask them about their selling experience – after all, you will be employing them to sell your property and negotiate the highest possible price, in the shortest possible time, with the least amount of hassles.
Real value based on facts
The real value of your property should be based on facts. Don’t select your agent based on the price they say your property will sell for. Remember the agent you choose isn’t planning to buy your property – your agent is responsible for managing the sa of your property.
Your agent should show you the facts regarding the price your property should sell for. The most revealing fact is the price buyers have been willing to pay for properties similar to yours. These “comparable sales” are available to every agent in your area. Ask for them, and believe them. However, please remember that some unscrupulous agents will try to buy your listing. If two agents give you a similar appraisal figure based on facts, and then another agent gives you a figure that makes you smile, and you want to believe that their enthusiasm will get you a better price, be wary. Employ the honest agent – remember, you need to trust them. If you can’t trust them to give you an honest appraisal, how can you trust them to be honest come sale time?
The truth behind pricing
An agent who purposely takes on an overpriced listing usually realizes it, and starts “working on you” immediately to get a series of deep price cuts. The problem, besides your frustration and feelings of betrayal, is that the current buyers watching the market quickly decide your home is overpriced and won’t even consider looking at it. You have to cut your price well below fair market value just to get these current buyers interested and into your home. The result is it takes longer to sell and you get less money!
The secret to getting the most money and the quickest sale with the fewest problems is to price your property right from day one. The facts are available and they are clear and indisputable. The best agent is the one with the best qualifications and strategies for marketing your property who proves with facts the correct pricing for your property. Your home is the single most valuable asset you have, why entrust it to anyone other than an experienced professional? You must work with your agent towards a common goal – highest possible price, in the shortest possible time, with the least amount of hassles.
Properties that are overpriced don't sell, and they scare away potential buyers. Buyers are immersed in a particular price range, they have seen many properties and know what a reasonable price range for your property will be. So if your strategy is to set an unrealistically high price in the hope that someone might just come along, or in ordere to leave some room for negotiation, rethink your strategy. Properties that are on the market for too long become "stale”, resulting in agents and buyers believing that something must be wrong with the property. Set your price too low, can also result in buyers being wary, and leaving you short changed. Price it correctly and it should sell quickly regardless of market conditions.
Obtaining a Comparative Market Analysis for your property is very easy. All you have to do is call HUM & FEA. We will happily generate a Comparative Market Analysis and suggested listing price for you.