WHAT TO CONSIDER WHEN PRICING YOUR LUXURY HOME OR CONDO TO SELL
A correctly priced listing is of paramount importance to achieve proper market exposure. Almost every serious buyer will work with a price ‘range’ in mind. They will be very knowledgeable in their range, almost certainly well aware of what is obtainable, and will be sure to purchase by comparison.
Keeping your property in the price band it belongs to, for one will equal less competition, eliminating the probability that you will be competing with properties of an inevitable higher spec, whether it be size, area, finish or location.
Most sellers make the common simple pre-conception that pricing a property high, will mean a higher selling price. If anything however, it is quite the opposite. It will not be included in the ‘range searches’ performed by real estate professionals, thus fewer buyers will be able to consider it, and the ‘right’ buyers will be missed. It also runs the risk of becoming ‘shop worn’ as we say in the industry, simply due to the length of time. It remains available, and tired listings always invite unrealistic offers on the basis of potential seller desperation.
Another issue that could compound the difficulty of attaining a reasonable offer is simple ‘sentiment’. A potential buyer is far more likely to be unreasonable with their offer if the list price was perceived to be unrealistic to begin with. Even the act of ‘inviting’ a buyer to make an offer in the first place could indicate fair price has not been established. It is much easier to obtain a reasonable offer on sensibly priced property. You are free to pick and choose as you feel comfortable, and remember, with no obligations whatsoever.
We have an excellent understanding of current market conditions, and if required, can provide you with a free Comparative Market Analysis (CMA) to help determine the current value of your home.
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