THE TRUTH ABOUT PRICING YOUR HOME FOR SALE
There’s a skill and art to pricing a home. Getting the price right is essential for a successful home sale, as it’s the most important consideration for your potential buyers. The housing market is constantly evolving and it can seem hard to keep up, but luckily there are some golden rules that will help you find the right price and attract the right buyers.
RESEARCH THE CURRENT HOUSING MARKET IN SOUTH AUSTRALIA
You may have a figure in mind for your house price, but you need to be sure. Pricing your house lower than you’d prefer may result in a quick sale and the afterthought of undervaluing the property. Equally, if your home is priced too high, potential buyers may avoid it and wait for the price to go down… but if your property sits on the market for too long, the buyer may think something is wrong with your home.
To get a clear idea of your property value, familiarise yourself with the market.
Research local Adelaide properties for sale to gain insight on property prices in your area, but also look at comparable houses in surrounding South Australian suburbs to gauge competition. There are also a number of websites and online tools that can give you an insight into data such as property price growth in Adelaide.
To get the right balance and maximise your property sale, creating room for negotiation on your house price is essential… but this doesn’t always equate to negotiating down. Buyers will also expect to go above the asking price in some cases.
Pricing is an ongoing discussion and needs to have a degree of flexibility to reflect the market, and a local real estate agent who has the market knowledge and confidence to negotiate can assist with this process.
THE STRATEGY BEHIND PRICING YOUR PROPERTY
Now that you’ve researched the current house market in Adelaide and looked at recent property listings with comparable homes, you should have a better idea of your property value. The economy, interest rates, location, property size, modern extensions & renovations, local schools and amenities are all factors that will determine the price of your house – and all of this needs to be conveyed in a carefully executed campaign to determine not only your home’s physical value but drive an emotional value too.
Developing a pricing strategy and a sales campaign creates the difference between a house and a home to a buyer. What makes your home unique? Can the potential buyer see themselves building a future and memories in your house?
The help of a local real estate agent will provide extensive knowledge of the property type and style, the benefits of living in the suburb, and a carefully considered intended buyer profile to tailor the pitch to. Are you ready to find out how to price your home for sale?
Get in touch with one of our local Adelaide real estate agents for an expert opinion on the housing market in Adelaide.
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