Entries (RSS)Getting the property sale price right.
The previous posting gave the advice to ensure you price your property realistically to get potential vendors into the property. Your property may be absolutely perfect for a number of people on the agents books but if you cannot get them through the front door they will never get to see that..
But against that advice of not pricing too high you must also ensure you do not price too low either. We all love a bargain but often if the price is lower than we would have anticipated instead of viewing it as a bargain we are more likely to be concerned that the property has some defect or flaw which hasn’t been highlighted. Again, this may reduce the number of potential buyers you have through the door.
People love to bargain on property. We all know that the price the property is on the market for is not the price the vendor is likely to accept. So if you price your property at the absolutely lowest price you would find acceptable, you may well be deemed to be acting unreasonably if you do not accept an offer.
It’s therefore a difficult balancing act between not too high to deter vendors and not too low to not give you the room to negotiate. This is of course more difficult at the minute because there are often too few properties on the market to get reasonable comparables. It’s in this environment that a good estate agent will really earn their fee. Speak to a number of different estate agents and get their opinions. And do bear in mind that if you’ve already found your dream property yourself, it will be a greater priority to have a quick sale rather than hold out to get a slightly higher offer.
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