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Pricing your home to sell

Pricing your home to sell

Author: Pranil Maharaj
Date: 2019-04-19

At Prime Property we understand the importance of a smart marketing strategy to reach your audience.

Regardless of market conditions, it is crucial that your home is offered at an accurate, market-related price in order to compete with other comparable properties in your area.

In order to gain insight into the market, buyers start by comparing your property to other, comparable ones in the area, therefore realistic pricing is crucial.

With the extensive information available on the internet, today's buyers are knowledgeable, are watching market trends and research the market thoroughly before committing to an informed purchase offer.

Over valuating your property initially doesn't only waste precious marketing time but also attributes a negative stigma to the home. If the price isn't right, it is unlikely to sell.

An accurately priced property creates prompt demand. The first few weeks are crucial in marketing terms.

It's a misconception among some that a property should be pegged at a considerably higher price than its market value, to allow for any downward negotiation.

An inflated price might result in multiple price reductions, which ultimately could see the home sitting on the market for much longer.

Durban still has a buoyant market with well-priced homes and apartments selling in the early weeks of marketing, with price being the key determining factor.