Determining a pricing strategy is one of the most important factors in selling your home. It is vital that your home is priced correctly from the start to maximise your chances of attracting as many buyers as possible. We will help you in this regard.

Below is a list of some of the factors that may influence the price you receive for your home:

• Location of Property;
• Home Size and Land Area;
• Current Buyer Demand;
• Prices of Comparable, Recently-Sold Properties;
• Prices of Comparable Properties Currently for Sale (the competition);
• Condition of the Property; and
• The Marketing and Negotiating Skills of your Real Estate Consultant.

Why it is Vital to Price your Home Correctly?

Many people believe that if they set the price for their home high to begin with, they can always lower it later. But setting the price too high runs the risk of attracting fewer buyers and taking longer to sell. Potential buyers will be scared off by the price and won't even take the time to view your home. Those who can afford a home at your asking price will soon realise they can get better value elsewhere. Eventually the price may come down to the market value, but by that time the home has been on sale too long and has already lost exposure to a large number of buyers. On the other hand, if you set your price too low then people may wonder what's wrong with your home. It may sell quickly but not at the best price.

Pricing your home at the right market value ensures that an optimal number of buyers will consider your property. It is the competition between these buyers that produces your premium price. The right market price may also result in a quicker sale time. Therefore to achieve a maximum price for you home in the quickest possible time frame it is important that we set the right market price.

The effects of overpricing:

• Reduces advertising response;
• Loses genuinely interested and qualified buyers;
• Attracts the wrong prospects;
• Eliminates offers;
• Helps to sell competitive properties;
• Can cause valuation problems;
• Takes longer to sell;
• Reduces interest of sales consultants.