APRICE WHICH IS TOO HIGH CAN MAKE BUYERS IGNORE YOUR HOME. A home will quickly become ‘stale’ if it is not sold in a few weeks. And stale homes get lower prices because buyers wonder why others rejected it. Your home must never be seen as a reject. But if you price your home too low, you might sell it too low.
YOU SHOULD SET A STARTING PRICE high enough to protect you from selling too low and appealing enough toattract the best buyers. The buyers are told that the price you ask is the price you will accept if that price is the best price you are offered. Be careful. Some agents say that when you put a price on a home the price can only go down. This shows that these agents are poor negotiators. The starting price for your home can go up or down. It depends how many buyers are interested and the skill of your agent at negotiating. Many homes sell for more than their starting price. If two or more buyers are interested, the agent will ask each buyer to offer their best price in confidence. You take the best offer. It’s fair and it’s simple. Unlike bait pricing or auctions, buyers are told the truth from the start. This attracts buyers. There is no gazumping, no deception and you get the best market price. An honest agent should be able to advise you about the price of your home. But, if you have any doubt, you should engage an independent valuer.
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Go To Mistake 14 – Open Inspections