Pricing for Sale: The Biggest Challenge?

Market research is essential.

So you’ve decided to sell your home? As real agents we understand, not only that your property  is your main asset but that you will have a significant emotional connection to it – it is your home after all.  Naturally when the time comes to sell, achieving the highest price possible is typically and justifiably  a vendor’s expectation. However, actually achieving the best possible price for your home is not always the same as the price, in your heart of hearts, that you dream of. To avoid unrealistic expectations and disappointment it is valuable to have an informed knowledge of the market you are hoping to sell in.

We are real estate professionals who pride ourselves in giving our vendors an honest estimate of their property’s worth – please don’t mistake our honesty for negativity or punish us by listing with another agent who is willing to ‘buy’ your listing by acceding to an above-market price. We are as keen as you are to sell your home for the best price achievable; a great result for you is also ideal for us and assists the local property market generally. However, a property that remains on the market for a significant length of time will often become harder to sell as time passes – not ideal for a seller or an agent. In many cases the major stumbling block is the initial asking price, however if you meet the market from the outset you tend to attract buyers immediately and avoid the frustration of waiting for a sale until the market catches up or of having to continually discount the price of your home until you eventually drop far enough to meet the market.

Motivated vendors may wish to do their own online research to gauge the current market; in our agency however, we deal daily with the local property market and subscribe to genuine, up to date market information. We also have the advantage of being able to compare your property with other listings on our books that constitute your direct competition. We use all the tools at our disposal to give you the most accurate information on the genuine value of your home in today’s market – the same data accessed by the lenders. If a buyer does take your property to contract at the price you dreamed of, based on the current market data the banks may still decline to provide the buyer finance because your property fails to meet the required bank valuation. Ultimately the market will have dictated the worth of your house regardless of the higher agreed value by both the buyer and yourself.

If you are thinking of selling market research is essential; work with us to develop an effective pricing and marketing strategy to sell your home.

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Pricing for Sale: The Biggest Challenge?