Keys to Selling your Home for the Best Price

Sept. 29, 2009 - PRLog -- “How can I best sell my property?” This is a question that people thinking of selling should ask themselves. Normally, it is assumed that a real estate agent will give the best advice on this subject. But if you ask 2 or 3 different Agents this question in relation to your own home, you might be surprised at the different answers you get. The answer you will get will have a lot to do with the system of real estate that the particular agent has been indoctrinated in, or has been told to follow in his or her current job. If the agent works in the Jenman system, they will tell you to never sell by means of an Auction, while agents from the Ray White franchise, just to name a prominent brand, love to push auctions as a great way to sell real estate. What is the truth? Can both groups be right? They both claim to be “the best” in their own way. So how can a vendor know who to trust?

The truth is that “the best” way to sell your property for the highest price will vary depending on a number of factors. We have to look at the kind of market conditions, the nature of the property itself and the effectiveness of the person selling the property.

Market Conditions

In a raging sellers market, buyers are on a feeding frenzy and buyers will snap up whatever they can get. In such conditions, it is not enough for an agent to show comparable sales in the last 6 months and use that as a guide to the marketing price. Why is that? Because while it will be easy for the AGENT to get a sale at such a price, it usually won't be the best result for the vendor UNLESS they have other considerations involved besides simply the price achieved. Other considerations might include the quickness of the sale needed, or the level of privacy the vendor wants to retain in the selling process.

Some books say, “Pay a value to get a true picture of your property's worth”. This could be worthwhile in certain cases. It can pay to get good advice. But remember one thing: a value will normally be conservative. He normally needs to get 3 past sales close by to give a figure, otherwise it is a question of replacement cost and a certain
subjective feeling or belief the value has about the strength of the market. Don't believe that? Then please explain why different values can value certain properties at different prices as much as 20% apart! Furthermore, when markets are moving rapidly it is anyone's guess what a property will actually sell for. What settled 2 months ago may not be a good guide at all.

Right now in Australia some local real estate markets could be considered as “sellers markets” while others are definitely “buyers markets”. In a buyers market, its best to go with hose conservative valuations if you really intend to sell. The offer you refuse today might look very good in a month's time when you still have no buyer.

Don't consider an auction in a buyer's market. In spite of what some people say, auctions can be very good in crazy seller's markets, because sometimes even the agent can't believe he crazy prices some people will offer in the heat of the moment.

In future articles we will look at how the property itself affects the best strategy for selling, as well as the importance of choosing the right agent (if indeed an agent should be used).

In Australia I firmly believe that you do need an agent, if only to get you on realestate.com.au. How much you need to pay the agent is the subject for another article.

# # #

Happening Real Estate offers investment properties for sale, private house sales, Brisbane realestate, real estate Brisbane Australia, selling your home, real estate agents Brisbane, real estate buyers agents Brisbane, buying property. -If want more details then click here http://www.happeningrealestate.com.au