Pricing Your Home for Sale

Pricing Homes for Sale

The smartest way to price your home is to be very competitive in the beginning.  (refer to previous blogs).  Sometimes you’ll get so much interest in that first wave of buyers, you’ll end up with two or more offers at the same time.  If several buyers are interested in your property, it can drive the price higher.

Keep in mind that real estate agents should always advise you to price your home at fair market value.  You should hire an agent based on their qualifications and not on how high they are willing to list your house.  Remember that in the end it comes down to what the buyer is willing to pay and not what the agent is willing to list it for.

Best of Luck selling …ask Madeleine by commenting on this blog for more information.  Cheers.

Pricing Your Home for Sale

Pricing Your Home for Sale (cont.)

If you price your home over what the buyers have recently been willing to pay, then your home will not sell.  One of the biggest mistakes homeowners can make is thinking that they will start with a high price and then come down on the price later.

The reason this is a mistake, is that the first two weeks that a home is listed is the hottest time on the market.  Buyers who have been looking for a home for a while are always excited to see a new home listed for sale.  However, most buyers are smart enough to have shopped around and know what houses are selling for in your area.  If your house enters the market priced higher than all the rest the buyers won’t even bother looking at it.

Later, when you decide to lower your price to what other homes are selling for in your area, it will be too late.  You will have missed the initial wave of buyers that a new listing creates. If buyers do look at your home later, they may wonder if the lowered the price because something is wrong with the house.  They may be more careful when inspecting the house, which may bring up more problems to fix.

Time on the market always works against you.  When all is said and done, you may end up having to come down on the price even farther than your neighbours, just to get it sold.

…ask Madeleine for more information by making comment on this blog. I will get back to you asap.  Cheers

Who Determines the Price of my Home

Who Determines the Price of my Home?

Many home owners do not have a full understanding of how the asking price of a homes should be established.  They either base their decision on what the need to get out of the sale in order to buy another home, or they base it on what they paid and adjust for inflation.  Another mistake is that the real estate agent sets the asking price.  The truth is that the buyers are the ones who establish what your home is worth in today’s market.

Who Determines the Price of my Home

When an agent comes to your home and shows you a competitive market analysis, it is made up of homes that have recently sold, homes currently listed and homes that were listed but did not sell.  What these numbers represent are what the buyers were willing to pay for a home similar to yours (the solds), and what the buyers were not willing to pay (the expired listings).  I also gives you a gauge as to what your competition is (the current listings).

It is important to take these numbers into account when establishing the price of your homes.

…ask Madeleine for more information on pricing your home by commenting on this blog.

Shopping for a Real Estate Agent

Shopping for a Real Estate Agent

When you are shopping for a real estate agent it gets very confusing. Below is a list of questions to have ready for your next interview?

1.    Do you personally answer phone calls?  (Phone them at 6pm and see if they are still working?)

2.   Can we cancel the listing if we are not happy?

3.   Do you have a Personal Assistant?

4.   If you don’t call back within 24 hours will you take $50 off your fee?

5.   Do you list my property on the Internet? Which sites?

6.  Are you fully automated with your own personal computer, fax machine, sms, voice mail etc.

7.  What qualifications do you have?

Shopping for a Real Estate Agent

8.  I want to give my home the advantage of the latest marketing Strategies.

9.   How much time and money do you invest in professional training?

10.  Why are you personally motivated to sell my house?

11.  Why should I list with you rather than any other agent who is calling?

…ask Madeleine for more insights into interview an agent by making a comment.  Happy interviewing

Building and Pest Inspections

Building and Pest Inspections

Part of any normal contract of sale, in Queensland, is the Building and Pest Inspection.  This often is a time of great stress for many home buyers and sellers, in particular the first home buyers who are new to the market place.  These buyers  are purchasing homes in the McDowall, Everton Park areas that are usually 30 plus years old,  these homes often have maintenance issues, yes no homes is ever perfect. Not even a new home, with established homes if there are major structural issues these would already be evident where with a new home they are still to surface.

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Buyers when reading these report panic, quiet often missing out on good quality homes that only need to be well maintained.  The job of the inspectors is to draw your attention to all the little jobs that require attention if he does not do this they are not doing there job.  These are then backed up by huge disclaimers which the building inspector’s insurance insists they put into the reports.  The inexperienced buyer is completely baffled and confused. Quite often they crash the contract over minor issues. The seller is left frustrated and annoyed that they lost the contract.

Sellers can minimize this stressful time, prior to going to the market place having a pre-sale building & pest inspection and attending to any issues that maybe of concern.  Thus being for warned.

Buyers need to understand that every home has some issue.

…ask Madeleine by commenting on this and I will help you through your next building and pest report.