Is the price right!
Are you meeting the market!
How does your property compare to similar recently sold properties in your area
Do your potential buyers agree with the value for money!
Industry statistics show that genuine buyers appreciate value for money:
- A property price that is 1% over perceived market value loses 10% of potential buyers
- A property price that is 5% over perceived market value loses 25% of potential buyers
- A property price that is 10% over perceived market value loses 50% of potential buyers
There is documented evidence that illustrates a relationship exists between the properties advertised price and the amount of prospective buyer enquiry, as buyers judge "value for money" which is determined by competing properties for sale in a similar price range, this subjective aspect places importance on getting the price right for a successful and expedient sale.
Within the first 4 weeks of marketing there is a sense of urgency for genuine buyers to buy when property is first listed for sale on the market, getting the price right avoids genuine buyers shopping around, becoming undecided and eventually purchasing elsewhere.
Generally speaking, selecting the correct process to sell your property is not as vital as retaining the price integrity of the property, remember as buyer interest increases, so does the chances of a contract for sale and as buyer interest decreases so does their perception of value.
