The Importance of Pricing Your Home Correctly
Category Property Advice
To achieve the right price for your home, and to avoid your property sitting, property owners need to ensure they have all the knowledge available. Getting the price right must also consider the costs of selling as well.
A well-priced house, of course, will sell quicker and if you don't sell within the first two weeks of going to market, the chances are higher that you have already lost out on prospective buyers.
"Pricing your property correctly is an important decision to make because this will determine how It is received by the market," says The Agency's Managing Director, Kyle Leigh.
"If you don't, it could sit on the market, which may lead to it getting stale and being overexposed."
Buyers have also become far more savvy, with a wealth of information to help them in their search for the perfect home. Pricing your home correctly has never been more important, while considering when to sell is just as crucial, with the property market cyclical, reacting to the balance between supply and demand.
Understanding the market and the timing of your sale will go a long way in ensuring you not only go in at the right price, but at the right time.
"The launch is massively important," says Leigh.
"We do a lot of homework and have experienced estate agents working focused markets. Our agents have access to the latest technologies and systems, and utilise best-in-class data portals to perform in-depth comparative market analysis'. This critical data, coupled with our agent's experience in the area is crucial to determining the launch price and achieving a sale."
"At The Agency we have found that properties that are listed with us on an exclusive sole mandate basis, generally spend less time on the market and achieve higher selling prices."
Ensuring you are working with an experienced, credible agent, of course, will go a long way in maximizing your knowledge. It will also take away unnecessary admin and stress for the seller.
"Choosing the right agent is a crucial part of the sale. To sell your property for the best possible price, in the shortest amount of time, you need to ensure you have all the information you need, and the best source of knowledge lies with the right agent," says Leigh.
"At the Agency, we're not just estate agents, but trusted property advisors and we want to be our clients trusted advisors for life. We will never push for a quick sale, just to make the sale, but rather advise our clients of all the factors at play, even if that means holding off on selling if the climate is not right."
It is worth noting that selling your home can be an emotional transaction. It can be stressful, and it comes with some admin, but it's important to know everything that lies ahead before you embark on the journey.
This is why it's so important to have the right agent working with you. To ensure you have all the details on hand, but also to understand the hidden costs that come with selling your home.
Many homeowners have gone into a sale not anticipating the costs involved - and we're not just referring to the commission structure agreed to with your agent of choice (make sure to have this ironed out before venturing any further) - with compliance certificates, bond cancellation fees, unpaid rates, occupational costs and Capital Gains Tax all part of the selling costs.
For more in-depth information on the hidden costs of selling your property, read our article on the subject.
If you are looking to sell (or buy), get in touch with us and we will help guide you through the process. Our Trusted Property Advisors are credible, registered Property Practitioners, who pride themselves on delivering a thorough, curated experience from the first meeting to the end of the sale/purchase and beyond.
Get in touch with one of our Trusted Property Advisors today.
Author: The Agency Property Group
