Wednesday, May 16, 2012

No 1 Rule of Property Pricing

We all know the property market is slow and that prices have gone down. However we don’t like accepting, that something which is so valuable to us, is worth less than we think or believe it’s worth. This causes some people stress, incredulity, heartache and a feeling of financial pressure.
It’s a common mis-conception that Estate Agents or Sellers themselves determine what price a property will sell for. They don’t. The market determines the price, and the Number One reason properties don’t sell is because they are, overpriced.
Today the internet provides a powerful and easy to use tool for buyers to compare price and condition of different properties, and if your property doesn’t appear to be value for money, they won’t come and see it.
When determining what price you home will sell for you also need to take into consideration that the Home Buyers Report legislation means that an independent opinion on the value of your property is required to be made available to people interested in your property, and in the current buyer's market prospective purchasers are unlikely to be willing to pay more than the Home Buyers Report valuation.