Knowing how much your property is worth and pricing it accordingly is an important step towards completing a successful sale.
Here’s a look at what you should consider
Your initial appraisal
At the beginning of your campaign your agent would have appraised your property.
To get to this figure they would have conducted a comparative market analysis and looked at similar properties that have sold within the last 90 days. They would have considered current competition, wider market trends and your properties structure and conditions to arrive at a value that they believe you could achieve if you sold your property at that point in time.
The initial appraisal is a good starting point but over the course of a 4-6 weeks sales campaign, the property market can fluctuate and it’s important to factor the following changes in when setting your price. You want to be “in the market” not “on the market”.
Understanding buyer sentiment is important when setting your price. Talk to your agent and see if there are any passionate buyers, what does the agent think they would be willing to spend, what is the general feeling at the open homes?
Advice from your agent
Your agent is at the coal face of your marketing campaign, they are hosting open homes, fielding calls, sending contracts, following up attendees after inspections. They know how much interest there is in your property plus any positive or negative feedback. They know what the market is thinking about your property and are an important resource to tap into when setting your reserve. We buy ugly houses Coconut Creek Fl.
Any offers and market feedback
It is important not to get sentimental about your property and set an unrealistic reserve. It is very important to talk to your agent, to review any offers and listen to market feedback from your agent.