Getting a better price

What many people think is that a better price is achieved by asking for it. In other words, if I ask for higher then that's what I'll get. Sadly this is the exact reverse of what actually happens. Therefore it is critical that you seek to identify amongst the appraisals you obtain that the person providing the appraisal has worked at identifying a well thought out and thoroughly researched appraisal. 

The assessment method may be based on some or all of the following criteria:

•      Detailed analysis of previously sold properties and competing properties for sale
•      Consideration for improvements on the land
•      Development potential
•      Street-scape comparison
•      Facilities comparison
•      Prevailing market conditions

The process explained below demonstrates clearly that an accurate assessment of value in this stage using best practise methods will usually help us arrive at a price point that could be reasonably relied upon in making plans around the sale of this property, development planning or for the acquisition of other properties. 

Market research has identified buyer patterns of behaviour that makes the accuracy of this report a crucial element in the successful sale of a property. The process we use when engaging the market place will be far more successful if we understand current buyer patterns as below:

• Buyers conduct almost all of their research online
• They will only physically look at between 3- 4% of properties available before making their decision and will rule out the rest from their screen of preference .
• The asking price or pricing strategy has a direct relationship with the amount of demand for your home. If we are outside of true value range we will be excluded out of the 3-4% of properties that will be considered by the buyer.
• The selling price you receive has a direct relationship with the level of demand created. If demand is maximised then provided the right mechanisms have been put in place a price higher than market value may be achieved.

The significance of this research supports an intelligent research based pricing strategy that positions your property for maximum demand with a mechanism in place to allow the weight of demand to drive the price upwards. In the event you have any questions around this process or would like to discuss the next step for you, give us a call on (08) 9207 2088 or email us and we'll be happy to help.