Pricing your home for sale
Your #1 Concern
Your listing price should be your number one concern when selling because overpricing is usually the number one reason a house isn’t selling. Raine & Horne Bunbury's experienced agents know the market and can provide informed, realistic advice on what price your property might fetch. The best price can be determined by a well-researched marketing evaluation. As a seller, you should get a comparative market analysis comparing your home to similar properties that have recently sold. A sound and realistic strategy in setting your price can ensure you will be more likely to obtain your asking price (or close to it) and you'll get it sooner.
The Buyer/Seller Psychology
In any buyer/seller relationship it's normal for the seller to ask themselves if they should have asked for more. Similarly, the buyer might question whether they could have paid less. The art of negotiating the best price is a skill that the Raine & Horne Bunbury's team has mastered. One way of achieving a speedy, successful sale is to start with a realistic price in the first place. Remember, like you, we have a keen interest in getting the best possible price for your house.
Meeting the market is crucial when selling; however realistic pricing doesn’t mean an overnight sale either. It’s a tough market and buyers have a lot to choose from.
Overpricing Can Be Costly
If the listing price of your property is too high, chances are you will miss out on a large proportion of buyers who are looking in the price range where your home should be – and it is important to realise that you won’t always have the opportunity of accepting lower offers, as the buyers who would be the most interested in your home have been scared off by the price and aren’t even taking the time to look at your property, let alone making an offer. By the time the price is corrected, you’ve already lost exposure to a large group of potential buyers.
Real estate agents work with buyers who have seen what is currently on the market and are waiting for something new to be listed. Therefore, most activity will take place in the first 30 days of listing.
After this initial period, the only people to look at your home will be new buyers in the market place, and buyers brought through to compare other properties. If your property is overpriced it makes other properties appear as ‘bargains’.
We recommend that an experienced, well-trained real estate agent be asked to appraise your property prior to listing. Raine and Horne Bunbury are committed to providing you with advice that accurately reflects the position of the local market, together with comparative sales evidence supporting this advice.
What's Your Property Worth?
Your property’s value is determined only by what a buyer is willing to pay in today’s market, based on comparing your property to others currently on the market for sale.
The value of your property is not determined by any of the following:
- what you paid for your property
- the amount of cash you need from the sale of your property
- what you want for your property
- what another real estate agent says your property is worth
- what an appraiser says your property is worth
- your personal opinion
- what your neighbour got for their house
- what you’ve spent on improvements/renovations
Remember, buyers always determine the sale price.
Rest assured that Raine & Horne Bunbury, as a member of the Raine & Horne group with its huge network of successful agents and vast experience, will get the job done and exceed your expectations.