When it comes to selling your property, asking the right price is important. Ask too high a price, and you might not find a buyer. Place the price too low, and you will end up losing money. Fixing the right price is a key strategy that can make all the difference in attracting potential buyers and maximising your returns. Here, we will talk about a few key strategies that will help you figure out exactly what your ideal property price should be.
Look At Similar Properties
Look at properties that are similar to you that are listed or have been recently sold. Research properties that are similar in size, location, amenities and condition. Doing this will allow you to gauge the market’s pricing trends and will help you fix a competitive price for your property.
Keep the Market Conditions in Mind
Market conditions play a significant role in determining your property's price. When there is high demand and low supply (seller’s market), you can feel free to set a higher price. But if there are more properties available and not many buyers, you will need to price the property a little lower than your competition to attract buyers.
Consider the Property’s Condition
If your property is not in great condition and needs a lot of repairs or updates, you will need to factor that in when you price the property. If your property is in excellent condition, the buyer may be willing to pay a premium price. If your property needs work done, it is a good idea to make the improvements before listing it. This will let you fix a higher price for your property.
Account the Commission
Remember that selling a property involves costs beyond the sale price. At Estate Agent Power, you agree to a percentage of the commission you are willing to pay for our services when you list your property. This will be paid to us by the buyer as a reservation fee and you will be paid the remaining amount. So, you may want to add the commission amount to your property price when fixing the property price.
Use Our Online Tools
Tools like yield calculator and evaluate property can help you fix a good price for your property. Yield is often a key decision point when someone is buying a property for investment purposes. If you do not know your yield amount, you can use our yield calculator. You can also choose to get your property evaluated by Estate Agent Power for free to help you decide an ideal property price. Our experts consider all the important factors and will give you an educated opinion about your property price.
Be Prepared to Make Adjustments
Once you set your property price, know that you may need to adjust your price later. If your property isn't generating interest or offers, it may be an indication that your initial price was too high. Price reductions can breathe new life into your listing and attract potential buyers who were previously deterred by the price.
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