Deciding on a Selling Price for your Property

deciding-on-a-selling-price-for-your-propertyOnce you’ve found a suitable estate agent you’re ready for the next important stage. At this point you will have to decide on a selling price for your home which will have to be negotiated with your agent. Then, you, the estate agent and buyer will have further negotiations in terms of a realistic sale price for both parties. Your estate agent should be able to help you with a strategy for a successful outcome, by weighing up your own circumstances with that of the buyer.

Price and Preperation – Understanding how your own circumstances could affect the sale

The price you finally agree on could be affected by a number of factors:

•    Time pressure to sell in order to secure a new property
•    Market conditions
•    Demand for your property

If you’re anxious to sell quickly you may be more inclined to settle for a lower asking price than someone who is not in a hurry. If time is not an issue you may be happy to hold out for a better offer. But remember, the longer your home remains on the market the less people may be inclined to view your property, and the greater the chance for house prices to fall. Try to research local market conditions before settling on an offer, as well as talking to your agent to develop a strong sales strategy.

Price and Preperation – Understanding how your own circumstances could affect the sale

The price you finally agree on could be affected by a number of factors:

•    Time pressure to sell in order to secure a new property
•    Market conditions
•    Demand for your property

If you’re anxious to sell quickly you may be more inclined to settle for a lower asking price than someone who is not in a hurry. If time is not an issue you may be happy to hold out for a better offer. But remember, the longer your home remains on the market the less people may be inclined to view your property, and the greater the chance for house prices to fall. Try to research local market conditions before settling on an offer, as well as talking to your agent to develop a strong sales strategy.

Understanding Your Buyer

By understanding your buyer’s position you will be better placed to negotiate with them. Is your buyer looking for a quick move? Are they under a pressing time constraint or are they chain-free? If the buyer does want to buy quickly you could negotiate a higher price for your property if they feel that time is running out.

Help! My Property won’t Sell – Additional Property Selling Advice

The first thing you should do as the property vendor is to discover why your property isn’t selling. The estate agent should be able to give you some helpful property advice to pinpoint why your home has been overlooked. In addition, we’ve summarised some helpful tips to consider.

  • Lower your home’s price. By doing so you could attract more potential buyers who may bid towards your initial price bracket.
  • Advertise your property more widely via online portals or with another estate agency. It may cost a little more money but it could provide the exposure your property needs.
  • Remove your property until the market improves.
  • Keep on waiting patiently. You may find a buyer is just around the corner, but equally the longer your property remains on the market, the less attractive it could appear to potential buyers.

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