For most people, your home is where your memories are made. Although these memories have immeasurable value, you cannot put a price tag on them. Taking this into account, you must be careful not to price your property subjectively. Pricing your home correctly is the first step towards a successful sale in which you don’t end up disappointed.
Letโs consider 3 Reasons why properties are often overvalued and why these reasons can lead to disappointment:
1. The seller awards the mandate to the estate agent who offers the highest valuation with the aim of securing the mandate. This is the most common reason. Sellers should be aware of this ‘trap’ and should insist on a well researched Comparative Market Analysis (CMA).
2. The sellers feels that their property boasts features of higher value when compared to properties with similar characteristics in the area. Upgrades are not the main deciding factors with buyers, but rather location and size. What might be considered value to you might not have the same value for a buyer.
3. Sellers wish to list higher than the fair market value in order to ‘test the market’. On average, you attract the serious buyers in the first 4 weeks after listing a property. If you are over-priced in the first four weeks you will likely miss the opportunity to attract serious buyers.
Pricing your property correctly is vital because buyers are astute in their research, mainly because their property purchase is of such a high value. They will be very careful to take the time to find a property that best fulfils their expectations and budget. An overpriced property will be compared to other well-priced properties and fall short every time. Furthermore, an overpriced property runs the risk of becoming overexposed which will negatively impact the marketing efforts.
A well researched CMA will ensure that your property is correctly priced from the start and in doing so, attract the right buyers. A CMA consists of information on the subject property as well as similar properties that are for sale, similar properties that have sold, and lastly similar properties that have either expired or have been withdrawn and therefore leading us to the estimate value of the subject property which is both fair and market related.
At 3%.Com Properties we can deliver in 3 key areas to ensure your price is right:
1. We are skilled Attorney Agents who will ensure a CMA is done with our top standards and your best interests in mind.
2. We will make sure to continually assess the market’s reaction to your property and ensure that your property is neither overvalued nor undervalued.
3. We charge a low commission rate (3% plus VAT) to ensure that when your property is priced right, you still get out more compared to other agents who demand higher commissions.
For more information visit www.dlcinc.co.za
๐๐ฉ๐ช๐ด ๐ข๐ณ๐ต๐ช๐ค๐ญ๐ฆ ๐ช๐ด ๐ข ๐จ๐ฆ๐ฏ๐ฆ๐ณ๐ข๐ญ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ด๐ฉ๐ฆ๐ฆ๐ต ๐ข๐ฏ๐ฅ ๐ด๐ฉ๐ฐ๐ถ๐ญ๐ฅ ๐ฏ๐ฐ๐ต ๐ฃ๐ฆ ๐ถ๐ด๐ฆ๐ฅ ๐ฐ๐ณ ๐ณ๐ฆ๐ญ๐ช๐ฆ๐ฅ ๐ฐ๐ฏ ๐ข๐ด ๐ญ๐ฆ๐จ๐ข๐ญ ๐ฐ๐ณ ๐ฐ๐ต๐ฉ๐ฆ๐ณ ๐ฑ๐ณ๐ฐ๐ง๐ฆ๐ด๐ด๐ช๐ฐ๐ฏ๐ข๐ญ ๐ข๐ฅ๐ท๐ช๐ค๐ฆ. ๐๐ฐ ๐ญ๐ช๐ข๐ฃ๐ช๐ญ๐ช๐ต๐บ ๐ค๐ข๐ฏ ๐ฃ๐ฆ ๐ข๐ค๐ค๐ฆ๐ฑ๐ต๐ฆ๐ฅ ๐ง๐ฐ๐ณ ๐ข๐ฏ๐บ ๐ฆ๐ณ๐ณ๐ฐ๐ณ๐ด ๐ฐ๐ณ ๐ฐ๐ฎ๐ช๐ด๐ด๐ช๐ฐ๐ฏ๐ด ๐ฏ๐ฐ๐ณ ๐ง๐ฐ๐ณ ๐ข๐ฏ๐บ ๐ญ๐ฐ๐ด๐ด ๐ฐ๐ณ ๐ฅ๐ข๐ฎ๐ข๐จ๐ฆ ๐ข๐ณ๐ช๐ด๐ช๐ฏ๐จ ๐ง๐ณ๐ฐ๐ฎ ๐ณ๐ฆ๐ญ๐ช๐ข๐ฏ๐ค๐ฆ ๐ถ๐ฑ๐ฐ๐ฏ ๐ข๐ฏ๐บ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฉ๐ฆ๐ณ๐ฆ๐ช๐ฏ. ๐๐ญ๐ธ๐ข๐บ๐ด ๐ค๐ฐ๐ฏ๐ต๐ข๐ค๐ต ๐บ๐ฐ๐ถ๐ณ ๐ญ๐ฆ๐จ๐ข๐ญ ๐ข๐ฅ๐ท๐ช๐ด๐ฆ๐ณ ๐ง๐ฐ๐ณ ๐ด๐ฑ๐ฆ๐ค๐ช๐ง๐ช๐ค ๐ข๐ฏ๐ฅ ๐ฅ๐ฆ๐ต๐ข๐ช๐ญ๐ฆ๐ฅ ๐ข๐ฅ๐ท๐ช๐ค๐ฆ. ๐๐ณ๐ณ๐ฐ๐ณ๐ด ๐ข๐ฏ๐ฅ ๐ฐ๐ฎ๐ช๐ด๐ด๐ช๐ฐ๐ฏ๐ด ๐ฆ๐น๐ค๐ฆ๐ฑ๐ต๐ฆ๐ฅ (๐&๐๐)
