If you’re planning to sell your home or investment property this year, I bet you’re keen to get the maximum price.
Well I’ve got a couple of good ideas to help you achieve this in our current challenging market.
Have you ever watched “The Price is Right”?
If so you know that the only way to win is to be the one to correctly guess the price of the item you want without going over!
That means your guess must be just slightly under the retail price.
In today’s shifting property market, where in many locations there are more properties for sale than there are active buyers, homeowners won’t be able to price their homes as aggressively as they were able to a few years ago.
They will have to employ the same strategy as the TV show: be the closest without going over!
Homeowners who make the mistake of overpricing their homes will eventually have to drop the price.
This means it will take longer to sell your property and it may sometimes leave potential buyers wondering if the price drop was caused by something wrong with the home when in reality nothing was wrong, the price was just too high!
So how do you ensure that you receive the maximum value for your house?
Here are three keys to ensure that you get the highest price possible for your property.
This may seem counterintuitive, but let’s look at this concept for a moment.
Many homeowners think that pricing their homes a little over market value will leave them with room for negotiation.
Actually, this just dramatically lessens the demand for your house (see the chart below.)
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their property so that demand for the home is maximized.
By doing this, the seller will not be negotiating with one buyer over the price but will instead have multiple buyers fighting with each other over the property.
Studies have shown that the first two weeks on the market are the most crucial to your success.
During these initial days, your home will be exposed to all active buyers.
- Also read:Here’s how to avoid these 12 common reasons property investors fail to build a Multi Million Dollar Property Portfolio
- Also read:Heat comes out of the housing market as values across Melbourne dip and Sydney slows | Corelogic Home Value Index
- Also read:Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Sydney property market forecast for 2024
- Also read:Home Price Growth Still Strong Over November | Latest Housing Market Stats
If your price is perceived as too high, you will quickly lose this initial audience and find yourself relying only on the trickle of new buyers entering the market each day.
Markets are dynamic, and your price has an expiration date.
You have one chance to grab attention.
Make sure your pricing helps you stand out on the shelf — in a positive way.
During the booming property markets of a few years ago, houses almost sold themselves, but today it’s really important to have a great agent on your side — one who is a good negotiator.
Our experience as Australia's leading property buyers agency shows many vendors don't achieve an optimum sale price due to poor advice or pressure from their selling agent.
Bu the good news is that now you can have an independent agent from Metropole on your side when you sell your property and use our no extra cost Vendors' Advocacy Service
To achieve the highest selling price for your property, you need help finding the right agent to sell your property, as well impartial and strategic advice on the correct timing, the most appropriate method of sale, the most cost effective advertising campaign and the negotiation process.
When you engage us to help you sell your property we will:
- Sit down with you and determine your needs.
- Recommend the best agent (not agency) for you. We know the best agents and the worst agents as we have been buying from them on behalf of our clients for many years.
- Check the agent's fees and advertising recommendations to save you unnecessary expenses. Should you sell by auction or private sale? How much should you spend on advertising without wasting your money? We'll tell you!
- Monitor the selling agent's performance.
- Consider any offers made and give our recommendations to you. Then we'll help negotiate on your behalf, giving you our input all the way.
- Follow the sale through until settlement.
We charge the Selling Agent a percentage fee based on the sale price of your property which comes out of their commission when the sale is made.
This means that you get our service at no extra charge, but that it is in all our interests that you get the best possible price.
If you want someone you can trust to relieve you of the process of dealing with the Selling Agents give Metropole a call now on1300 20 30 30 or leave your details here now and we’ll be in contact.
We are independent and work for you — we tell you the truth.
Isn’t that what you want?
It’s the most stress-free way for you to appoint a real estate agent!
If you are thinking about listing your home for sale this year, make sure you have a real estate professional on your side to help you properly price your home from the start!