real estate agent with family

Why should you not overvalue the price of your real estate?

Everyone will agree: posting many real estate websites for sale on your storefront is a good thing, which offers choice to your potential customers. But these properties must be displayed at market price.

Not only do you reassure clients about your accurate understanding of the local real estate context, setting the price of real estate according to the market has many advantages. We've selected 3 for you.

1. Accelerating property sales

Let's not kid ourselves: in 2019, the buyer has in his/her possession a multitude of tools that can freely be used to know the price per m2 of each district in the villages and cities of France and other countries. Of course, this price per m2 is an average and may fluctuate according to the condition and amenities offered by the property for sale.

Nevertheless, this average price is a reference in the eyes of the buyer who will be able to quickly, and at a glance, analyze if the property you are offering deserves to be visited or not.

If the amount of your property for sale is overvalued, there is a good chance that no one will make an offer for it. And a property that stays in an agency for many weeks can be quickly identified. So be pragmatic, and post your property at the most accurate price!

2. Attracting buyers

It's real estate agency sales 101: a property is attractive when it's at the right price!

It is human to want a future home that not only meets all the criteria we have set for ourselves, but that is also at the lowest possible price. Although mortgage rates may be historically low, this observation will not change.

The idea is not to undervalue the price of the property, which would be counterproductive in the end. But a property displayed at the right price will be a good way to bring potential buyers into your agency.

3. Reducing the cost of negotiation

As mentioned above: a property at an overvalued price will not sell and will remain in your agency for many weeks or even months.

Automatically, the price of this property will decline in value over time, putting buyers in a strong position. Sellers probably have other projects, and most of them want to sell as quickly as possible to make those projects a reality. They will then tend to lower their selling price to make these projects happen if their home is struggling to find buyers.

By putting the property at the fairest price, you necessarily reduce the negotiation margin, and therefore the time of sale.
And most importantly, you maximize customer satisfaction for all of your buying clients, who will then be your best advertisement. Think about it, your customers and former customers are your best ambassadors!

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