7 Most common mistakes when pricing a property
The process of a real estate property sale is not always an easy one and one of the main reasons why is the wrong pricing of the property, which can lead to loss of time & money.

It is reasonable that the property owners, if they are not in the business of real estate themselves, will not be aware of the actual market prices or the necessary property evaluation methods, resulting to the following actions during the pricing of their property for sale.
1.    I bought my property at a high price
First of all, at the time you acquired your property, the market was different. In addition, the condition of your property was probably a lot better and if that is not the case, it was definitely newer. Therefore, you must evaluate the condition of the current market as well as the devaluation of your property.

2.    I have invested a lot on my property
It is true that a property can benefit from upgrading certain things; however, this does not mean that the cost of these upgrades will always be reflected on the asking price. The effect of these actions will most probably be a quicker sale of your property.

3.    The neighbor sold his house at a high price
Initially, keep in mind that the actual amount of money that your neighbor eventually received, can only be known by him. Apart from that, even if it did happen, it might have just been circumstantial. Secondly, it is possible that your neighbor sold his property during a different time or on different payment terms. Third, the quality characteristics of his property may differ from yours. Fourth, for an estimate to be sufficient, we need at least three comparative data.

4.    I need a specific amount of money
The amount of money that a property can be sold at never involves the seller's needs. The real price of a property is only one and that is the one defined by the market.

5.    Another agent told me he can sell it for more
Unfortunately, there are real estate agents who, in order to make you assign your property exclusively to them, may deceive you by saying that your property can be sold for a higher price or that they represent buyers who are willing to pay a lot more.

6.    I can wait until I get the price I want
Even if you are willing to wait for a long time, even years, it doesn't necessarily mean that the value of your property will increase.
This may happen, but during very specific periods and for very specific properties. Unfortunately, for the majority of real estate properties this is not the case. In fact, you have to remember that each year that passes the house loses value.

7.    This is my home
It is the delicate and often unpleasant time, when one realizes for the first time the objective truth about the selling price of their property, and it takes some time to adjust. Your first reaction may start with: "My house…" but it should continue with logic and not emotion.

We, as certified real estate brokers and consultants are here to help you understand the real value of your property.
We use cookies and other tracking technologies to improve your browsing experience on our website, to show you personalized content and targeted ads, to analyze our website traffic, and to understand where our visitors are coming from. You have the possibility to choose which cookies we are allowed to use, as well as to change these settings at any time you wish.
These cookies are used to provide you with a more personalized experience on our website and to remember choices you make when you use our website. For example, we may use functionality cookies to remember your language preferences or remember your login details.
These cookies are used to collect information to analyze the traffic to our website and how visitors are using our website. For example, these cookies may track things such as how long you spend on the website or the pages you visit which helps us to understand how we can improve our website for you.
These cookies are used to show advertising that is likely to be of interest to you based on your browsing habits. These cookies, as served by advertising providers. If you choose to remove or disable these targeting or advertising cookies, you will still see adverts but they may not be relevant to you.