When it comes to selling your property, knowledge of the current market will certainly help you plan for the future and put you on the road to selling success!
Before you decide to sell your property, you should first do some research to find out what other comparable homes are selling for in your immediate area, and how long they are taking to sell. This will greatly aid you in many future decisions, such as finance and planning. Having this knowledge should also reduce your anxiety throughout the whole selling process.
So how to you acquire this knowledge? The easiest and most efficient way is through gaining a formal Market Appraisal Report from a reputable and local real estate agency. A Market Appraisal Report should not have any strings attached – it should be “obligation free” with the information extracted from a reputable property database company that gains the information from government records. Ask questions if you are not completely sure of any information. Be wary of taking verbal property pricing opinions and comparables as fact!
Pricing information can also be gained by keeping a close eye on the market, attending auctions, and speaking to others who have recently bought and sold in the area.
Once you are comfortable with price, it’s important that you choose an agent that will market your property in front of the highest amount of relevant buyers. Ask the agent to explain in detail what they will do for you when marketing your property – again ask questions to fully understand how these marketing activities will bring the maximum amount of ready buyers to your door.
When choosing an agent, you’ll find that the agent with the cheapest commission is probably not the best – that’s why they discount their fee! Focus on the agents’ communication skills, negotiation skills, and their track record - as it is these attributes that will determine your final sale price. Choosing a proven agent that has superior negotiation skills and effectively works with all buyers will gain you a higher final sale price that will positively impact your bottom line!