My Recommendations for Pricing Your Property

An inflated price can be just as dangerous as an undervalued one.

Perhaps the biggest challenge in the process of selling real estate is to value it correctly. This is one of many situations where the help of your broker could save you quite a bit of money.

If the price of your property is too high, you will miss out on a certain percentage of buyers looking to purchase a property within the price range that yours should have been in.

Overpricing is usually done so that sellers leave room for negotiation regarding the price. The chances are almost minimal because the buyers who were most interested in your property were scared off by the listed price and didn't even look at the offer in detail. By the time you decide to adjust the price, you have already lost a certain percentage of potential buyers.

Correctly pricing a property is even more difficult in a market where prices change constantly. It is extremely important to be aware of how and within what timeframes prices are changing. Your broker, who monitors the development of the market daily, can assist you. Determining the correct market price for your property will lead to a faster realization of a deal at the maximum price.

Professionalism and Skills of Your Broker

When working with a broker, you must be maximally convinced of their professionalism and skills. Such a professional in the field of real estate should explain to you why the property needs to be valued at these specific levels and present similar offers to yours that have been sold or are currently on the market.

Small changes can contribute to a better selling price

Some of these changes can be cosmetic and cost you nothing. It can be as simple as moving some furniture or emphasizing the light in your home. Other changes may require a small investment from your side, but this investment will pay off several times over in terms of the final market price or the time it takes to sell the property.

Keep all these tips in mind when choosing the broker who will represent you in the sale of your property, as well as if you decide to sell your property yourself. In this regard, I am providing you with a gift from me - an "interview for a broker" for owners. When you have an appointment with a broker, you will now lead the meeting and have the information you need to choose the right broker to work with.

The Right Price

Inflating the price of your property would not only cause you to miss potential buyers but also affect the time it takes to sell the property and the final selling price.

Price-Time Ratio

Time is an extremely important component of the real estate market. Every property attracts the maximum number of interested clients and buyers at the moment it appears on the market. This suggests that the chances of a sale are greater while the property is still new on the market. Setting a realistic price will help you take advantage of this initial interest and increase the chance of a quick sale.

Comparative Market Analysis (CMA)

Using Comparative Market Analysis is essential in determining the market value of a residential property. Key elements are the location and characteristics of the property, which means examining similar properties in your region. The goal of CMA is to present similar properties that have been sold and are currently on the market in terms of their price and characteristics.

Once the market value of your property has been determined, you decide on the final price to list on the market that achieves your goals. Generally, the asking price on the market should not be inflated by more than 5% above the market value, as this could deter potential buyers from making an offer.

If you wonder why all this information reaches you for free and ready-made, the answer is simple. What I want from you is to share with your close ones and friends the way I work. Thus, they will receive quality service that they deserve...and thanks to YOU! My recommendation is instead of working with multiple brokers and real estate agencies, find one that saves you time and money. Also, if you are a seller, the broker should provide you with additional added value by ensuring transparency and awareness about the activities they perform:

• Determining the best selling price for your property;
• Recommendations on how to give the property a good commercial appearance;
• Developing a marketing plan with all the activities that will be undertaken to advertise your property;
• Feedback on the activities and results related to the sale of your property;
• Keeping you informed about daily market changes;
• Informing you about every offer received from a potential buyer and helping you evaluate them;
• Assisting you throughout the entire process from listing the property through signing a preliminary contract with the buyer to notarizing the deal;
• Monitoring any situations that might hinder successful notarization;
• Tracking the process of applying for and approving mortgage loans for the buyers of your property;
• Maintaining constant contact with the broker representing the buyers;
• Being personally present with you at the notary closing to successfully finalize the deal.

Thank you for your time! See you soon!

With respect and gratitude: Ivan Ivanov