1. Deciding on the asking price
We are all hopeful sellers when it comes to deciding on an asking price for our homes. It might even be human nature to think our home may be worth more than someone else does.
Deciding on an asking price for the sale of your home should take careful consideration. I will provide you with the current property market research that you’ll need to make a well-informed decision about your price. Selecting an asking price close to where buyers see value in your property from the beginning, will greatly increase your chances of getting the best result. It’s important to get it right from the start.
If I think your initial price expectation is too high (or too low), I’ll tell you. It’s my promise under the Real Estate Agents Act (2008) not to mislead you in any aspect of the sale process. If your price is too high, it’s better to identify this early on, rather than risking disappointment when your property fails to sell at a level that the market was never prepared to meet.
2. Another agent contacts you to say they have buyers for your property
This is a commonly used tactic by less experienced or less skilled sales consultants, designed to create doubt in your mind as to whether I have located all the buyers who might be interested in your property. However, the real estate industry’s generally held advice in these instances is to refer any interested buyers to your nominated agent. I’ll be happy to introduce the buyer to your property at a time convenient for you.
3. You get an early offer that is below your asking price
It’s not uncommon to receive an early offer soon after your property goes on the market.
When buyers have been looking for some time or have been unsuccessful in purchasing another property, they are often keen to secure the next one available that suits their needs. These are prime buyers – fully aware of sale prices achieved within the competing pool of properties, and often in a strong position to act quickly.
Other potential buyers may want to ‘test’ you by putting in a low offer to see if you will countersign.
If either of these situations arise, I will be able to discuss your options for achieving the best price the market has to offer. A little knowledge can go a long way, and understanding something about a purchaser’s own circumstances and motivations will help you to make an informed decision on how best to proceed with their offer. It’s my job to obtain the best offer possible from every genuine buyer.
Once this offer is in hand, it will be up to you to decide whether it’s acceptable, or not. Whatever you decide I’ll respect your decision. It’s part of the ‘Bayleys Way’.
4. Your neighbour or friend says you’re selling your house too cheaply
Residential real estate is one of the most widely discussed topics in New Zealand media today, hitting the front pages of the news on a regular basis.
As a result, there are thousands of self-appointed ‘experts’ ready to share their opinions. Without well informed market research, most of these views are simply just that – opinion.
Of course your friends want you to sell well. With the best of intentions, they want to be encouraging and supportive of your sale process – ultimately hoping to see you achieve a ‘dream scenario’ which in reality may not be achievable. The same goes for well intended neighbours, since seeing your property achieve a high sale price may be in their best interests as well.
Ultimately, the market will decide the current value of the property, but it will be your decision alone whether to accept that valuation.