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

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WHY NOT OVERVALUE YOUR REAL ESTATE?

Everyone will agree: displaying a large number of properties for sale in your shop window is a good thing and gives your potential customers a choice. However, these properties must be displayed at market prices.

Not content with reassuring the customer that you have an accurate view of the local real estate context, putting up properties at market price has many advantages. We have selected 3 of them for you.

1. ACCELERATE THE SALE OF THE PROPERTY

Don't be fooled: in 2019, buyers have a multitude of tools at their disposal that they can use as they wish to find out the price per square metre of each area of France's towns and cities. Of course, this price per m2 is an average and may fluctuate depending on the condition and services 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, analyse whether the property you are proposing is worth visiting or not.

If your property is overpriced, there is a good chance that no one will make an offer for it. And a property that remains in the agency for many weeks is quickly spotted. So be pragmatic and advertise your property at the right price!


2. BRINGING IN THE BUYERS

This is the ABC of estate agency sales: a property is attractive when it is at the right price!

It is human nature to want a future home that not only meets all the criteria you have set for yourself, but that is also at the lowest possible price. Even though property loan rates are historically low, this fact will not change.

The idea is not to undervalue the property, which would be counterproductive. However, a property that is fairly priced will be a good way of attracting potential buyers to your agency.


3. REDUCE THE AMOUNT OF NEGOTIATION

As mentioned above, an overpriced property will not sell, and will remain in your agency for many weeks or even months.

Automatically, the price of this property will lose value over time, which will put buyers in a strong position. Sellers probably have other plans, and most of them want to sell as soon as possible to make them happen. They will therefore tend to lower their selling price to achieve them if their property is struggling to sell.

By pricing the property as fairly as possible, you will inevitably reduce the negotiation margin, and therefore the selling time!
And above all, you maximise customer satisfaction for all your seller clients, who will then be your best advertisement. Think about it, your customers and former customers are your best ambassadors!