How to sell your property for the right price

  • 12 years ago
  • Uncategorized

One of the most important decisions you can make when trying to sell property is the price. If the price isn’t right or the tag is too high, buyers  will skip your property listing and move on to the next one – it’s no  coincidence that one of the main search filters on all property portals  is the price.So how can you make sure your price is fair?

How can you avoid losing out on what your home is worth? Here are Sell My Property‘s five steps to getting your house price right:

Distance yourself

You  may have lived in your home for several years – perhaps even your whole  life – but your buyer has likely never set foot in it before. All those  memories? The price your originally paid? They don’t care about that.  The concern for them is how much they can afford, not how much you need  to raise for your next deposit. Before you even start to think about  your price tag, take a step back and distance yourself. You’re selling a  property – not a home.

Check the competition

Before  you can price your property competitively, you need to know how much  the going rate on the market is. A Comparative Market Analysis is the  traditional practice, which involves hiring real estate agents to  evaluate the value of your home, but with selling property online, the game has changed: the competition is listed right next to you.

Check the portals you will be listed on with Sell My Property, particularly, and see what  sellers of other properties of the same type are asking.

Look at your location

After  the type of property, location is the most important factor in the  value of your home. Is it near a beach? Is it in a holiday home hotspot,  such as Murcia? A buy-to-let market for young professionals or  students? Perhaps a luxury home in a major city, such as Paris? Again,  check the competition on property portals to see how many properties are  in your area and what their asking prices are.

Consider the market

Wider  market trends are also important to consider. Is the property in a  recession-hit country where prices are low? If so, it may not be the  best time to sell. Is it in an economic safe haven, such as London,  where buyer interest is high, regardless of value? Is it located near a  university or an area where tourist numbers are high?

If your property  can be sold as a buy-to-let, make sure you mention it: the option of  additional rental income can make the difference between an expensive  lifestyle purchase and a long-term profitable investment.

Add an incentive

Sometimes  buyers need an additional enticement to commit to a purchase. If your  property has been on the market for several months with no enquiries,  try lowering the price for a limited period – and explicitly mentioning  it in the listing as a discount. Other incentives, such as including  furniture, may help attract first time buyers, while you should also  draw attention to other financial benefits, such as an ongoing stamp  duty holiday.

For more on selling your home online through Sell My Property, read about our available packages.

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