The cardinal rule of pricing is that the selling price of your home is determined by the buyers.
One of the greatest mistakes vendors can make is putting an inflated price – a hopeful price – on their property in the hope that someone might pay it.
If you put your home on the market for more than buyers perceive it’s worth, it can languish without offers, even in a booming market.
After four weeks, buyer interest tends to tail off quite dramatically so it’s crucial to get the pricing right during the first four weeks of the marketing campaign. If the sale is by auction or tender, it’s even more critical, because you have a limited period in which to establish qualified buyer interest.
What does not determine the price of your home
- How much you hope you can get
- How much your neighbors, friends or family think you’ll get
- How much you need to get to pay off your mortgage, divorce settlement, new home, etc.
- How much you love your home
It is important for us (the Agent) to be as analytical in these prices as possible so when valuing your property we take into account comparable properties that have recently sold as this is direct evidence as to what buyers have been prepared to pay.
We also use comparable properties that are currently for sale as these properties will be your direct competition.
We need to ensure that your property has a fair chance of attracting buyer interest.
If you would like an appraisal of your home, give us a call on 07 3355 6845 or Click Here
All appraisals are free and absolutely no obligation to sell.