Give Your Asking Price a Reality Check

Many of the ways people go about putting value into their homes in Ingleburn results in unrealistic expectations of the final selling price. For example, some sellers decide to set a price for their home based on what they need to purchase the home they want. This is not the best way to price a home and can in fact deter potential buyers.

Achieving a Sale Price

The best way vendors can determine their likely selling price is to do their homework on local sales of similar properties – with emphasis on the word ‘similar’ because some vendors just can’t help over – valuing their properties in Ingleburn by looking at their own asset with rose-coloured spectacles (is the fourth bedroom really a bedroom or would it be better classed as an office?).
Agents often hear purchasers on inspections joke about the ‘harbour glimpses’ or the ‘double garage’ or the ‘level block’ or ‘walking distance to the shops’. If a property’s features are over-stated in the advertising materials, disappointed purchasers often point the finger at the ad writers or real estate agents when in fact the ‘puff’ is vendor-driven as unrealistic vendors push for prices that only someone with the bias of ownership could come up with. Conversely, purchasers visiting their umpteenth open for inspection rarely come equipped with rose-coloured spectacles!
Bridging the expectation gap can be a confronting experience for vendors and many only realise too late that timing is one of the most crucial aspects of achieving the highest price. If they keep the rose-coloured spectacles on for too long and turn down offers they later realise were reasonable, it is likely that the property will become stale and purchasers will lose interest.
This is the scenario that vendors should avoid at all costs by taking a reality check early in the piece rather than waiting months until it becomes so obvious that the price is wrong that only the bargain hunters are still interested.
The good news is that many vendors ultimately finish by achieving a sale price they are ultimately happy with – which is not the same necessarily as getting what they originally wanted. Take the advice of your Real Estate agent, they have likely discussed your home with colleagues and a price recommendation is often very well-thought out and planned.