Melton So you are wanting to put your home on the market, you go to a few different Real Estate Agents and ask them to do an Market Appraisal on your home. You have an expectation of what you would like your home to sell for but aren’t sure whether it’s realistic or not. Each agent that visits, gives you a completely different take on things. The first understands what you hope to achieve in terms of the sales price but is honest and may quote you a little under what you thought you’d might get based on the current market. One asks what you’d hope to achieve and tells you that they can get that confidently. The third tells you that they can get you more than what you expect, so list with them. Who do you believe? How do you know which Agent is honest and which is going to be the best to sell your home.
People may only sell once or twice in their lifetime, so you must be extra careful when selecting your Agent. Do you go with someone who says that they can get you more? Someone who agrees they can get what you want, even if it is priced higher than the other homes in the area, or someone who understands what you want to achieve but is honest in what they think you might get for the property? It’s all a bit much to try and get your head around but if you do a little bit of your own research before talking to an Agent, it may make it a lot easier to make your decision!
Why is pricing your home right so important?
– Overpriced homes tend to sit on market for a lot longer than a realistically priced property, this causes potential buyers to think there is something wrong with the property. They compare other properties and know that they can get better value for their money.
– Too low can leave you less money than your property is worth although it could potentially work in your favour. Causing a lot of interest amongst many buyers who put in multiple offers and you may potentially get it above the listed price.
– Check out similar properties that have sold in the area and compare them to yours, also have a look at what is on the market in your area, pricing and how long they have been on the market for. It is important to do your research and know what’s going on in your area.
– Ask your local Agent if they have a report of properties that have recently sold in your area if you haven’t already done so yourself prior to them coming. If an Agent is telling you they can get you more, get them to prove it by showing you comparable properties that they have sold.
– Compare original house prices with the sold price of them and the time they have spent on the market
– Having property overpriced and then the price being dropped several times will probably get you less than what you would have if your Agent put an appropriate price tag on it from the start.
The Realtor who is able to provide you with a comparative market analysis and is able to justify the price tag they put on, should be the one you definitely consider. Yes we all love to think our home is better than our neighbours, but when it comes to the crunch, potential buyers are looking for the best value for their money. If your 3 bedroom 2 bathroom home is listed $20,000 higher than the 3 bedroom 2 bathroom property a street away then the buyer will definitely be looking at that home first. The best valued home on the market is the one that gets the offer.
Before you even think about placing your property on the market, do a bit of research yourself and choose an Agent who you believe has your absolute best interest at heart.
Call Professionals Ryder Real Estate Melton today to see what your home could be worth! – 9743 6400
