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Tips For Setting The Right Selling Price

13 Oct 2015

This is according to REMAX Oaktree Broker /Owner who says that possibly one of the most detrimental mistakes that so many sellers make when putting their house on the market is overpricing the property.

Sellers often think that if they set a higher price that will be providing themselves with some negotiation cushioning. However, often the inflated price pushes the informed buyers of today away and delays the selling of the property.
The asking price of a house is based on several factors;
local relevant and comparable sales, the condition of the property, its age, how neat and tidy it looks, accommodation offered and how it compares with similiar properties currently on the market.
The Comparative Market Analysis CMA provided by the Sole Mandate agent will give what price the other houses are selling in the area, what has recently sold, and average price per square metre.
If a property is priced correctly then the difference between the asking and selling price will be minimal. If the
property is over priced it takes a log time to sell and then the seller has to lower their price, which can mean finally selling their home for a lot less than what they would have received if the home was priced correctly from the beginning ........