The price is number one in the top three most important things when taking a property to market.
Price it too low and you risk underselling your property.
Overprice it and you risk not selling it at all.
Property pricing comes down to the current market conditions and how the property itself will do in those market conditions with what it has to offer.
The performance of the market is something that you can’t control, but the way you prepare and offer your property to the market is something that you can control.
This is important because your property isn’t the only one being offered for sale.
When your property goes live to market, it will be competing with many and multiple other properties.
This is why it needs to be priced correctly.
Having an incorrectly priced property will just help to sell the neighbouring properties.
The agent should give you an understanding, or at least an idea, for how the market is currently performing, how your property should be priced and what should be done with the property to help achieve top dollar in the quickest time possible.
Tip – Depending on the current market, the sweet spot for achieving optimal results in capital cities is usually within the first 28 – 42 days of being on the market.
You ideally want to have the property sold within those first 28 – 42 days, otherwise the property starts to lose its ‘shine’ and buyer interest, potentially leading to a lower price and with less interested buyers.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
