Establishing a Value
One of the most important decisions you will make is determining the right asking price for your property. This can be a challenging decision, and while we can advise you on what your property may be worth, it is important to remember that agents do not decide property values. The market does. If you set your target too high you may miss out on many potential buyers by pricing yourself out of the market. While, setting your price too low could mean that you may end up selling your property for less than it is really worth.
The benefits of correctly pricing your property include:
- Your property will attract more qualified buyers
- Your property will sell faster
- Your property won’t go ‘stale’ on the market and you don’t have to drop your price over time
- A well-priced property can generate competing offers
When you are determining the value of your home it is useful to keep your eye on the real estate section of the local newspapers. Compare descriptions of properties in your area and monitor the maximum and minimum selling prices. If you are still unsure of how to price your home, one of our Sales Consultants will be more than happy to assist you. With over 1200 properties sold by Peter Blackshaw Real Estate each year, they have extensive knowledge and understanding of current market activity as well as access to the latest up-to-date sales information.
After you have a reasonable idea of the price your property is likely to sell for, remember to calculate the various costs of selling your property. These can include:
- Landscaping, painting, redecorating or other costs associated with preparing your property for sale
- Legal expenses, advertising costs and agent’s commission
- Repayments of any existing loans on the property.