Posted on 06/06/2016 by Todd Pearce
A lot of individuals think that there's a correlation between placing a high original asking price tag on an advertised house and attaining a substantial final offering price tag. "There's undoubtedly a hyperlink," says Todd Pearce, of Web page & Pearce Real Estate. "But it doesn't work the way a lot of individuals feel. In fact, the opposite is often the case. If a home is really overpriced, purchasers just sit back and wait to see what happens. If they've been looking around long enough to be ready to commit themselves, they've also made themselves very familiar with what they can get for their money."
Selling your property can be a difficult task if you don't know what you are doing. The alternative option is to get an estate agent to sell your property. If you are adamant that you want to sell your home yourself, this is a financially beneficial decision; as long as you are willing to put in the work. There are a number of different techniques that you need to consider when selling your own property. The main objective is to get the best price possible for your property.
It is very important to have some knowledge about the area that you will be selling your property in. Understanding the area you are selling in will allow you to set a reasonable price for your home. It is up to you to research property prices for homes that are similar to yours. You need to go to your local estate agent, to find the average price for a house like yours. Other features, such as a big garden or driveway can also help increase the price of your home.
According to Todd, it is common for inexperienced vendors to overprice their properties in the belief that the "right" buyer will eventually come along - someone who will fall in love with their home and pay the earth for it. "But individuals buy with their pockets as well as their hearts. No one goes into a real estate purchase without making comparisons and weighing up all the factors." Many inexperienced vendors make the mistake of thinking that no matter what cost a property is marketed at, purchasers will always make offers.
"Put yourself in the purchaser's shoes. Buying a property is really stressful. Most people won't let themselves get emotionally committed to something they feel is never going to come down to a realistic level. It's easier psychologically to move on and make an offer on something that is more realistically priced. It is wise to leave a negotiating factor when setting your inquiring cost," states Todd. "But price your house to create a sense of competition so that purchasers will want to snap it up before someone else does. The best value is nearly always achieved in the early stages of marketing."
There are times when you can sell your property, for a high price or a low price. The property market often works in cycles, this means that sometimes prices are high and other times they are low. It is up to you to try to sell your home when you can get the most money for it. As mentioned above having extra features can increase the price of your home, if you are in a hurry to sell, extra features will enable you to get more for your home. Selling your home can be a tedious process, especially if you are doing it yourself, but when you eventually sell it can be very rewarding as you will reap the benefits.