The Truth About Selling Your Home
Don't let your home get stuck in listing limbo. Read the full truth about pricing strategy, buyer pools, and how to get your property sold fast!
When you put your home on the market, one of the most important decisions you will make is the asking price.
Every seller naturally wants to achieve the best possible price. But in a price-sensitive market, getting that initial price wrong can have serious consequences. A property can sit for months, followed by one price reduction after another, while buyers continue to look elsewhere.
I sold a house myself this week — in just one day.
It wasn’t necessarily a beautiful home. It wasn’t necessarily in a perfect area. There was nothing particularly special about the property. But it was priced correctly, and buyers saw the value immediately and jumped at the opportunity.
The buyer offered the full asking price. There was no negotiating or haggling. The offer was accepted, and the buyer’s bond has now been approved. The seller is extremely thankful and happy that he will not have to endure months of uncertainty and stress trying to sell his home.
There is another important consideration: your buyer pool. Buyers are limited by what they can afford and what they qualify for through their bond. Price your property too high and you may move it into a different buying bracket, excluding buyers who could have afforded it at the correct price.
Sellers should ask: “Why do you believe my property is worth this amount, and what evidence supports that price?”
Recent comparable sales, competing properties, location, condition, size and features should all be considered.
The right asking price isn’t simply the figure that sounds best on listing day. It is the price that gives your property the best opportunity to attract serious buyers and achieve a successful sale.
Janet Bosman
Candidate property practitioner, RE/MAX Express
Practical property advice for Springs residents – one step at a time.
RE/MAX Express
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