How do you get the most Value out of your Property?
Pricing Your Property for Sale
Pricing your property for sale is both an art and a science. You want to achieve the ideal price that will attract buyers, enable you to make the most money from the sale possible and help sell your home in the agreed timeframe.
List price is the number one factor that most property buyers consider when looking for a property. Ultimately, it is left up to buyers to determine value. Properly pricing your property from outset has several benefits including: more exposure to buyers, increased response from estate agents, selling faster - which means less inconvenience for you, generally higher offers and usually more money for you as a seller.
The Role of Real Estate Agents in Pricing
A real estate agent should provide you with a comparative market analysis of similar properties in terms of location, style, size and facilities. They shouldn’t just tell you what they think your home is worth; instead they should help you determine the best price marketing based on factors such as, the time frame you want to sell, the condition and the competition.
Avoid Valuation Issues
When setting the marketing price for your property it's important to remember that valuation issues can arise from overpricing it, which can lead to mortgage loan rejections. This means you have wasted time with your property off the market and could have missed out on other buyers. Researching current market conditions and understanding the comparable properties on the market is key before deciding a list price for your home. Pricing Your Property is something your agent will guide you through. Lion Trust Spain always aims to make our clients aware of market pricing in their area before setting a marketing price and indeed accepting or declining an offer.
Selecting the right Estate Agent to market your property
When selecting an agent, always remember that the marketing price they suggest shouldn't be the decisive factor. Some agents will use the tactic of high balling the suggested marketing price to excite your aspirations, solely for their benefit to secure the listing, knowing full well that the price will never be achieved. Then with time when the property has not sold they suggest reducing the price to generate more interest. More often than not, this leads to a lower final sales price and a long drawn out sale process.
Choosing who you trust to market your property is a personal matter and often you go with your intuition. Sometimes the person you bought the property through might not be the right person to sell it for you. You need to consider their real experience and credentials when it comes to marketing your property and getting the exposure it needs to sell. Anyone can list your property, but having a company market your property to sell it is a very different matter. Further a good agent will be able to advise you on how to present your property in the best possible way to help you secure the best price possible.
Finally, when it comes to setting the marketing price, keep in mind that negotiation is inevitable in any real estate transaction. So having accurate pricing information before you market your property gives you an advantage going into negotiations with potential buyers. Always take the time to make an educated decision before setting the list price.
Are you thinking about selling and wondering is now the right time? Ready our 2023 Market forecast to find out how the market is on Costa del Sol! CLICK HERE
If you want to better understand the market, check out or article: Sellers or Buyers Market: where is the power of balance? Click HERE
