What is the right price for your home?

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You have made the decision to sell your property. Now what?

Essentially, you want to sell your home as quickly as possible and for the best financial return on your investment.

So you have to make sure that the price is right.

Sounds simple enough but how exactly do you ensure that you are setting the correct price-tag?

Here are some tips you can use to ensure that your property's asking price is correct.

Knowledge is power

Do your research. Buyers will not just make an impulse decision on an investment this large. They would have looked at similar properties and will make comparisons. So check what homes with similar specifications in your area are asking. This will help you make informed decisions

What is the market doing?

You really need to take the market trends into account. If it is a buyers' market, you do not have the power, they do. You need to be willing to negotiate, as in this market, the supply outweighs the demand.

However, in a sellers' market, you are able to add a bit more onto your listing price, as in this environment there are less properties on the market, but an abundance of buyers looking to purchase.

Call in the experts

Once you have an idea of what price your listing price, it is time to call in the professionals. Reach out to the agent that you would like to work with and get their expert opinion.

They will be able to guide you, tell you if your proposed asking price is suitable based on their experience and relationships they have built with buyers and investors as well as a comparative market analysis.

At the end of the day, getting the price right is vital. It is the difference between having a house sitting on the market for months on end or and, as a result, having it sold for considerably less than it was worth.

So use these tips to help you make an informed decision. You will be glad you did.

Author: Xoliswa Tini Properties

Submitted 13 Feb 19 / Views 1007