Preparing to Sell
Pricing your home to sell…
Any agent can price a home to be sold without doing a thorough market analyses, however should the price be too high and comparative houses within the immediate area are being sold at a lessor price, the house will not sell. In time to come the owner will eventually sell his house at a reduced price in line with the market related price of that particular area.
It is therefore considered to be improper to price a home without establishing its true market related price of similar homes that have been sold in your residential area. It should also be taken into account that purchasers within the market determine the market price, as only they know what price they are prepared to purchase for.
A house normally has several attributed prices
- What the Seller thinks its worth. (Pie in the sky attitude … as much as possible)
- The Comparative Market Analysis…. (A thorough assessment conducted by an agent)
- What the purchaser is prepared to pay… (What he can afford to pay)
- The final negotiated settlement price….
Please be cautious to over-price/over-value as it may jeopardize a sale…
- Prospective buyers become disinterested
- Genuine legitimate offers are eliminated
- Agents become disillusioned, and weary towards seller
- Financing becomes a problem due to high escalating acquisition costs
- A belated forced sale, would normally leads to a lower sales price
Statistics have proved the following phenomena:
- Should your house be listed within 10% of the market value it would take ± 30 days to sell.
- Should your house be listed within 20% of the market value it would take ± 60-90 days to sell.
- Should your house be listed within 40% of the market value it would take ± 100 days to sell.
The market value of your property…
The current market conditions, determines the value of your property…
