8 Steps to Selling Property
2. Decide on a Listing Price
Comparative market analysis (CMA):
Ask your agent to provide you with a CMA. This report contains information on (at least) three properties of a similar nature and style to yours, that have sold recently in your area (within around 5km). It’s helpful in understanding your property’s price potential. If there are no recent comparable sales, your agent must provide a written explanation outlining how they arrived at a suggested market price for your property.
Beware of overpricing:
Setting a realistic price will generate greater buyer interest and achieve a faster sale than if the property is overpriced. The risk of setting an unrealistic price is a longer time on the market which can be off-putting to buyers. An agent has to market your property at a price you’ve agreed to, e.g. if your property is listed at $509,000, the agent cannot market it as “$460K-plus”.
Adjusting your price:
The seller can choose to change the listed price at any stage when marketing a property, but be sure to give this instruction to your agent in writing. An agent is unable to change any marketing without your written instructions.
Now that you have decided on a listing price and are investing your
efforts into gaining exposure through marketing and advertising, it is
time to Prepare the Property