The Price is Right

October 22nd, 2020

Just like the old game show of the same name, a big part of buying or selling a home is making sure that the price is right. Both buyers and sellers should seek advice from agents on what is the right price. Comparable Market Analysis Reports should be obtained to help one make the right decision on price.

Sometimes the initial listing price of property is not quite right. We find this out from buyer feedback. The true market value of a home is the price that buyers are willing to pay for a home. From this feedback sellers can make the appropriate price adjustment. A prime example of this just happened last week. One of our properties had been on the market for more than 40 days and had become a touch stale with very little buyer enquiry for a number of weeks. The seller was motivated, took our advice and made a significant price change. Some astute buyers saw this adjustment on price and secured it with a good offer straight away. The property was under contract for close to the list price in less than a week with both parties happy.

So, follow the lead of those successful buyers and sellers before you and make sure that you know when the price is right. We look forward to helping you achieve your property goals this quarter.