Setting the Price
Location, Demand, Economy
Wah.. Sometimes, its really difficult- After all, I have to give credit to estate agents for providing such a wonderful job.. But at times, you would rather do the ground work yourself.. so that you won't be ... ahem.. "tricked" into paying more.... Aahh... Its not the payment that matters but the $1 or more extra.. I guess I can put it into better use somewhere..??
The best way of knowing the true value of your house is to have an independent valuer to give you a valuation. They are skilled professionals who are legally liable for their services and have no financial interest in the sale. But of course, you would have to pay them their worth.
A good agent should be well aware of what similar houses in your area have sold for in recent months and can also access market analysis information that gives data on local properties that have sold or failed to sell, including the asking prices.
Always do a "Comparative Market Analysis" : Ask them to show how they have arrived at the price they are suggesting. The agent will need to consider market conditions in terms of buyer demand, interest rates, inflation rates and any other factors affecting the economy. If changes in the economy are influencing the way people are spending, the property market is likely to be effected in some way.
Your potential buyers too, should also have a fair knowledge of your house's worth, probably having seen every other house for sale in the area. Be aware however that it is in their interest to get it a lower price; so don't feel pressured into accepting a low offer.
Then Again, you have the sites here.. with ALL THAT LINKS.. rite?? Haha... Just click on one of those under the "Very Very Important Sites".. ALternatively.. you can Click on the "Value Addedness" Link Box On-Top...and search for a comparable property and compare the Selling Price... Both of these Links and advertisements are Provided F.O.C! BELOW !
Isn't that Great??
Word of Advice:
Always always delay selling off in the beginning of your "sales campaign". Call a few agents ..Compare a range of similar properties.. their differing prices ... Never Never agree to sign a Sales and Purchase Agreement or for that matter any "Intention to Sell" document.... unless and until you are ready to let go... THAT document once signed.. can be caveated... should there be a change of mind.. even if the price is moving upwards, to your horror! That document once signed imply an intention to SELL!
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