Guidance for Correct Pricing of property selling
The residential, commercial and industrial landscape of the city has been transformed forever. A city, which once lacked any significant standing on the national realty scene, now stands out like a polished emerald that is the cynosure of every investor’s eye. Demand fluctuates, supply fluctuates, what remains sacrosanct is buyer understanding. Today’s buyers are more educated and aware of the realty developments, prices, localities etc. They know what they want and strongly adhere to and believe in “Value for money. Guidance for Correct Pricing of property selling.
It is imperative for homeowners to arrive at the right price to sell. The change in real estate conditions has resulted in more home sellers competing for fewer home buyers. The traditionally held homeowners’ belief that initial listing price isn’t really important for there is always room for negotiation, does not hold too much of weightage. An overpriced home gets passed over. Buyers of today don’t want to fritter time by getting into the bargaining rigmarole. For they are constantly comparing the asking price of one home to other asking prices and overpriced homes stay off their selected list.
Agents pay most attention to homes newly on the market. There are fewer new listings than current listings. It is easier to keep an eye out for what is new, compared to the vast number of current listings. New listings are on the “hot” sheet circulated in real estate offices. A lot of attention is focused on what is new. With agents looking at newly listed homes so aggressively, a properly priced home gets attention. Also when the house is new, the seller might not want to negotiate much making the asking price all that more important.
Once the house is listed and price reduced subsequently, it is often overlooked. It is then tagged as one of many listings, not one of a few new listings as time passes. As a homeowner, you might be really in need to desperately sell the house, but alas, you refused the first offer, which was more than the present listed price. It might even make sense to see houses by the agents of that locality and then settle on an asking price for the house you are about to sell. Agents of a particular locality are well versed with the house pricing of that particular locale and it makes immense sense to interact with them before quoting for your house.
The myth that a house “can be priced high”, and then lowered later no longer works as an effective sales strategy.
Remember generally the first offer is the best offer. So if you want the BEST Offer, price it realistically.
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