When you're thinking about putting your property on the market, one of the first things you consider is the price you’d like to achieve for it. Many things contribute towards whether you can realistically achieve your ideal sale price, such as the current market and economic outlook, your personal situation, location, local competition, size of the property and how your property is presented, but to name a few.
Below, we’ve put together five tips that we recommend you consider so that you can successfully achieve the best sale price possible for your home.
Your house will have an estimated maximum market value, and once you’re confident you know this figure, stick to your guns when receiving offers and listen to the advice of your estate agent. If your property is sought after, this puts you in a much stronger position to hold out for the best price possible. If it doesn’t prove to be as popular as you had hoped, then it’s possible you might need more time on your side so that you can wait for the right buyer to arrive.
The first offer you receive from a prospective buyer might not always be the best one, so it’s always worth asking for an increased offer if you aren’t happy with it. You are the owner of the property that these buyers want to call home, and if the buyer is in a rush or extremely keen on the property then they are likely to escalate to their best and highest offer quite quickly. This is where an experienced estate agent can step-up with advice and negotiation. However, don’t be afraid to accept the first offer if it does meet your expectations. Make your decision based on the circumstances and facts, not on preconceived opinions.
Getting personally involved with negotiations isn’t the best course of action, and we’d advise that you always leave this to the agent as they have done it thousands of times and will always have your best interests at heart - which is to achieve the best possible selling price to the best possible buyer. For this to happen, you need to choose a reputable, trustworthy estate agent from the very start. Then listen to their advice and ask any questions that you feel necessary.
All offers that the estate agent receives for your property must be passed onto you, and the potential buyer should be personally vetted so their likelihood of successfully completing a purchase can be assessed. The agent will find out all relevant information from the buyer and build up a strong rapport, all before any negotiating has taken place. You want to avoid being let down by an offer from someone that isn’t in a strong purchasing position.
As the seller, it’s important that you constantly review your expectations so that you’re not being unrealistic when the current market is considered. Sometimes a property can be on the market for a matter of days before offers flood in, and other times months can pass by without a single offer. Dropping the guide-price a little can help increase interest levels and open the property up to a new market of buyers, which can in turn put you in a stronger position to achieve the best possible price for your property.
Do you need some advice to help you sell your property? Or perhaps you’re looking to purchase your dream home? In either case, CPS Homes are proud to be Cardiff’s largest estate agent, and we have a knowledgeable team that would love to help you every step of the way. Get in touch with us today by calling 02920 668585, e-mailing email@example.com or by popping into one of our three Cardiff branches.