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One of the most difficult decisions sellers face when taking their property to the market is what price they should put on their home. The decision is difficult because the seller, naturally, wants to get as much as they can for their property. The last thing they want to do is undersell what is likely to be their most valuable asset. However, the desire to “not leave any change on the table” can lead to the seller to making the all too common mistake of asking too much for the property. If a seller puts an unrealistic price on their property it is likely that there will be very few inspections, and even fewer buyers willing to make an offer. This generally leads to the seller’s real estate agent recommending a series of price reductions to re-ignite buyer interest in the stagnating property. Sadly, this usually causes the property to be sold for less than it would have if it had been priced correctly in the first instance. On the other hand, the situation can occur where the seller suspects that the initial price was set too low if the property sells quickly when placed on the market. Most likely, this will be a result of jaded buyers finding a well-priced property and moving quickly to secure it. However, how can the seller be sure that the buyer would not have paid more? In short, they can’t. This dilemma, asking too much or asking too little, is the reason that many real estate agents recommend selling property by public auction. The auction process is designed to ‘bid up’ the price of the property and in the right circumstances is quite effective in doing this. Many agents report successful results using public auctions to sell property. However, auctions have several significant pitfalls. They are very stressful on the seller as there is little real indication as to whether their property will sell on the day of the auction. Moreover, the cash unconditional nature of the auction contract limits the number of suitable buyers to a small percentage of the total buyer pool in most price ranges. Also, a public auction is just that; public. Your neighbours, friends and the neighbourhood sticky-beak will know whether your property sold or was passed in. This often leads to embarrassment for the seller. Thankfully, there are ways to achieve a superior selling price for your property without having to risk getting the fixed asking price wrong or having to undergo the considerable stress of a public auction. Raine & Horne Caloundra is proud to have been awarded the exclusive licence to operate Australia’s most advanced marketing techniques, including perhaps the world’s most robust and seller friendly property pricing strategies. If you would like to know more about getting a low-stress sale while achieving the best possible price for your property, contact me today. Simply enter your details below, and I will contact you shortly. 
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