THE No. 1 Selling Mistake - showing a high/dream price in the advertising

Jhai Mitchell

This is by far, the worst property selling mistake any seller can make. If it's priced low, sellers worry that they'll give away profits or devaluating the property. At the end of the day buyers are very educated after going to open home after open home and know value when they see it and they will climb over their own grandmother to buy it, trust me I’ve seen it.

Now I’m not saying you should put no price tag on it, in some cases that can be worse because people start to think they want too much for it and done bother looking at the property.

Let be break it down for you what happen in this case study;

Offers Over $700,000

Location: Kings Langley NSW

Would you look at for that price?

Was listed at $430,000

Sold for $470,000

When the initial price is too high, potential buyers will simply walk away. If you put a reasonable price on it that is roughly $10,000 less than what its worth, you will have a much better chance at getting what you want.

This is called an “offers over” strategy and not all agents can pull it off. Now get me wrong this will not always get you the best price sometimes Auctions works well in particular circumstances (check out our YouTube video 34 Carinya Road, Girraween with over 200 buyer inspections in which we got over a $100,000 over the owners expectations) .

Pricing a home to sell is an art all real estate agents work to master. Most but not all of market value is based on comparable sales, but other such factors Agents look at include market movement, demand in the area (schools can drive this), the Properties location and its and how well its been motioned or if it’s been renovated.