When a person is born, he can embark on only one of three roads of life: if you go right, the wolves will eat you; if you go left, you’ll eat the wolves; if you go straight, you’ll eat yourself. - Anton Pavlovich Chekhov
Whatever said and done perhaps but one of the most important step in getting your property sold is entering the market with an offer that's priced right. Because over-priced property gets all the attention but for all the wrong reasons and loses out on the reasonable offers.
Invariably every seller looks for the highest price for his/her proposition. Usually a typical unreasonable seller starts at the highest price point possible, more than his own belief or reason. But the continued renegotiation of price can be a humbling experience.
But when numerous sellers are competing for fewer buyers -- adjusting price down may come bit too late and cost the seller less in gain. This can be avoided if the home is priced correctly from the start. Looking at properties that have sold in the last two months or so provide you a picture of what price range. And active properties in the market also give you an indication on where the market is headed. It may be a good idea to package the product accordingly. Read Sell It Fast! Sell it Right!
Even though home prices may have corrected a bit, real estate continues to be immensely expensive for most buyers, especially first-timers who lack cash flow. So it’s better that the property gets exposed to right and more number of qualified clients. And that happens with the right Value Proposition.
Arbitrary demands only result in arbitrary offers, which are least likely to materialize. And no one else would want to spend time promoting the whimsical offers, unless of course he is a big gambler himself. The key is to generate maximum response, the quicker you get those queries the better. More the queries, better are the odds of getting the best price at better terms. But then nothing is worth doing unless the consequences may be serious.
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