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To price or not to price?

Pricing Your Property to Sell


Without a price?

The key to attracting as many potential buyers as possible is to avoid putting any barriers in the way of their appreciation of your property. Putting an advertised price on your property is often a major reason why potential buyers will not enquire further. Falling in love with a  home is a very natural and emotional thing to do and is normal buyer behaviour... a reaction which, initially, has very little to do with cost. In reality, price can often be surprisingly low on the list of priorities because there are so many other important attributes which go towards creating the desire for ownership.

Consider this:
A property marketed without a price will:

  • Attract between 3-4 times the number of potential buyers
  • Attract premium price opportunities
  • Have a higher rate of success within a shorter time period

A property-based decision is infinitely preferable to a price-based one.

It’s important to sell the dream before the reality.

With a Price?

The pricing of your house must be right. Too low and you lose money, too high and you lose buyers.
Pricing is a complex exercise, with emotional attachments’ to a home filled with memories making it even more difficult.
It is important to remember potential buyers determine a property’s value based on what the market is doing, other property they have viewed in their price range, and how closely it meets their own needs and wants.
Occasionally there is a buyer who is prepared to pay a premium to get the property they want, these really are few and far between.
The closer your initial asking price is to market value, the more chance you have of achieving a favourable price for your home.