2: Price

Making sure the Price is Right

Building an exceptional price usually comes about by first engaging the market place with some logical price evidence & positioning .

What I mean by this is working off recent comparable properties in the immediate area or close by will help create a firm foundation in logical price positioning, to begin with. Buyers first look for value evidence before they will inspect in most cases .

This is a rule that is handy to remember :

Buyers start logically and finish emotionally

 

What this rule generally means is your property has a mental agreement on price positioning from prospective buyers then they will move to the emotional connection with your property provided the general feel & criteria of your home suits them.

Once a buyer becomes emotionally attached then it becomes a lifestyle decision rather than an exact dollar and cents decision. It is in the highly emotional part of this equation that an opportunity for a premium result will be found .

If a buyer feels your property is overpriced then (even if they like the property ) it will stop them moving to the emotional part of this process because logically they just don't agree and quite often they will leave the property without offering .

This is why some homes sit on the market for extended periods, more often than not, there isn't anything wrong with them, it's more the fact that the market place isn't agreeing logically with it.