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Home › Property Value › How Do I Get The Best Price For My Property?
You probably have asked yourself the question – How Do I Get The Best Price for My Property?.
We can help you find the right answer. Every person wants to get the best price for his/her property. But the price should not be too high to discourage buyers. Similarly, it shouldn’t be too low. It should match the value of your house. You may not be in a position to do this on your own. It is always advisable to hire the services of real estate agent.
They know how to estimate the price of a house. They also know how to find the best buyers who will be able to pay handsomely. You will be required to pay real estate agent fees commission. The percentage of the real estate agent fees commission charged varies from one real estate agent to another.
It also varies depending on state and is negotiable. In this article, we are going to provide you with important information on how to get the best price for selling your house. These are the things that you should know.
Table of Contents
Negotiation is a process. You need to understand this and learn how to go about it. You should therefore exercise patience and understanding. You should have great negotiation skills. Remember that as much as you want to get the best price for selling your house, the buyer does not want to strain themselves financially.
They should be happy with the price. Take your time and negotiate with the buyer. Be a good listener and demonstrate that you are not just interested in price but you are selling him/her a good house. Do not be rigid. Be flexible. Just put yourself in the seller’s shoes. This will help you to arrive at a good price.
Confidence is very important when negotiating the price of your house. Put away any fears that you might be having and approach the buyer with confidence.
State your price and support it by giving good reasons as to why you think it commands the price quoted. Lack of confidence will give room for manipulation. When the seller realises that you have this weakness, you may not be able to get the best price when selling your house.
You should know the market demand because it affects property price. If the demand for property is high, you are likely to sell your house at a high price.
But if the demand is low, the price may be slightly low. When selling your house, you are advised to conduct research about selling prices of different houses in that location and compare them.
This will help you to come up with the best price. You can then auction the house to the highest bidder or sell it to any buyer willing to get it at a set price.
If you have some idea of your suburb’s property growth rate, you could calculate an estimate of your property’s worth based on what you bought the property for. Just use our property value calculator below:
Before selling your house, you need to determine your selling price limit and stick to it. This limit is arrived at after estimating the value of your house. It helps to ensure that you do not make a loss.
Do not be overwhelmed by emotions or buyer’s reactions especially during auction. Learn how to control emotions. By doing so, you will be able to sell your house at a good price.
While it is possible that you can sell your house on your own, it is advisable that you use an agent. They are good at negotiating. Real estate agents have skills, knowledge, and experience in the field of buying and selling houses.
They know how to communicate in a clear, respectful and polite manner. The deal will easily go through. They know the game and will be able to sell at the best price… If you decide to do it on your own, the deal may backfire especially if you act unprofessionally.
Whether you are selling the house on your own or using a real estate agent who will be paid real estate agent fees commission, you should learn to genuine with your offers. There is no need to offer high prices for an old house which will require the buyer to do a lot of repairs and renovations.
This will discourage buyers from showing interest in your property. But if it is new, big and well furnished, a real estate agent will help you get a buyer who will buy it at the best price.
Not every negotiation process leads to a sale. The buyer can accept the price offer, reject or counter it back to you at a price which he thinks he can afford. Regardless of the outcome, you should accept the results and see how to go about it to achieve your goal.
For instance, if the buyer insists that you slightly reduce the price, do so as long as it does not go beyond your price limit.
In summary, it’s about knowing exactly what you have on your hands, and using it to your advantage when negotiating. You need to get a good agent and trust their judgement on your next move when you get an offer. Sometimes, you have to know when to walk away from a bad deal, and you need to know what a good price and outcome is for your property.
If you need any kind of help selling, we recommend talking to a local, experienced real estate agent that has a database of competitive buyers and knowledge about the neighbourhood. Just use our agent comparison tool below to have a look at the top performers.
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