In the final part (link to part 1) of our look at factors that affect maximizing your return on the sale of your property, we look at some more really useful nuggets of information: -
The value of an amenity is based upon what it will produce – not what it will cost.
Reasons for overpricing:
a. Over-improvement – a seller cannot select, add to their lifestyle, enjoy it and expect the buyer to pay the original cost.
b. Need – the need for money does not increase the value.
c. Buying in a higher priced area.
d. Original purchase price was high.
e. Lack of factual comps.
f. Leaving room for bargaining.
g. Seller’s move isn’t necessary.
h. Corporate buyout.
The largest impression and most impact a property makes on the market – upon buyers, and upon agents – is in the first few weeks of the listing. Therefore, it should show the best and be priced the best during those weeks.
Make sure your agent understands the philosophy of buying up in a down market.
Benefits of proper pricing:
a. Faster sale which will save carrying costs and surety has value.
b. Less inconvenience.
c. Exposure to more prospects.
d. Increased salesperson response.
e. Better response to advertising efforts.
f. Attracts higher offers.
g. Means more money to sellers.
Please don’t hesitate to contact us for more information on how we can implement a multi-faceted strategy to maximize your return from the sale of your property.