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Using Market Intelligence To Price Your Home
Do Your Research
Before choosing an agent, do some research and familiarise yourself with the local market. Look at recent sale prices for properties like yours and start to monitor properties that are on the market to see what happens with them. They may sell fast, or linger for months, followed by a price change and then a change of real estate agent.
This information is useful when setting your price as, in the end, it’s the buyer who decides the price. What agent’s do best is make the most of negotiations so you get the best price out there.
Every 3 months First National Palm Beach | The Pines | Burleigh produces a report for recent sales on the Southern Gold Coast.
To download or view the latest property Market Reports, click here. You'll find links to each suburb, where you can access the latest reports, and all of our archived reports. While there is no substitute for an appraisal by a real estate sales professional, these reports are useful as market indicators for what your property may achieve in current market conditions in your suburb.
Assemble Your Team
The successful sale of your house comes down to a number of factors but having a good team to navigate through it with you can make or break the sale. The key members of your team of course are you and your agent. A friend or relative who has sold a number of properties before and whose wisdom and opinions you respect can also help, even if they just reinforce what your agent is telling you! If you feel uncertain or start to lose confidence in your agent, talk to them, and if that fails, find a new one. It’s your home and your money so you need to be satisfied you’re getting the best out of your investment and that things are proceeding, as you would like.
Need to find agent? Meet our First National Palm Beach | The Pines | Burleigh team - right here!
Set Realistic Expectations & Make Timely Decisions
An agent will give you information about your property’s value based on its location, size, age, special features and the current market. Don’t dispute their appraisal figure because you want more money, or because you can’t believe it could be true. Get second opinions, if you have doubts, until you can settle on a figure that seems realistic and aligned with current market activity.
Once the price is set, you need to pay careful attention to what happens next. If the price is not right, buyers will let you know pretty quickly. An overpriced property could sit on the market for months without selling. Being decisive as well as strategic about your pricing before you list is crucial. Once it’s out there, if you’ve started too high, it can be hard to make up for the negative impressions created in buyers’ minds.
Using Market Intelligence To Price Your Home palmbeachfn.com.au September 2018 First National Palm Beach
by Celine Battendier
Cnr of 6th Ave & Cypress Terrace, Palm Beach, QLD 4221 Ph: 07 5559 9600