Selling price and negotiation
Establishing a realistic selling price is very important. If the price is too high relative to the market, it will deter potential buyers and directly influence the time it takes to sell the property. Even if you are not in a hurry to sell, too high a price may keep your property on the market for too long and cause it to lose value in the eyes of potential buyers.
Consequently, your best strategy is to establish a fair price from the outset. Buyers who have done their research will be prepared to offer a price similar to your asking price.
One must be aware of the current state of the market to establish a realistic selling price, and as a broker, I am just the person to help you with this process. I can complete a CMA (Comparative Market Analysis) for you upon request. Together we can compare your property with other similar properties currently on the market or recently sold in your neighbourhood, and identify the elements that may affect the selling price such as the location, dimensions, interior finishing, etc. This information can help us decide on a fair and realistic price according to the market.
Here are some items that can impact (positively or negatively) the value of a property:
- presentation of the house ("home staging");
- year of construction and condition of the immovable;
- number of rooms and their layout;
- building materials used;
- specific characteristics of the area;
Negotiation is an unavoidable part of selling your property. As a real estate professional, I can advise and guide you in the process. Here are some points to help you prepare ahead for a successful negotiation.
I will be able to best help you in negotiating if you and I are both aware of your ideal needs and conditions. Whether it is the minimum selling price, maturity dates, or inclusions/exclusions, being as transparent as possible with me will facilitate future negotiations.
A fair price
Setting a fair price that represents the market value of the property increases your likelihood of receiving more promise to purchase agreements. You thereby increase your chances of receiving multiple offers which in turn will permit you to negotiate better terms.
Getting ready to negotiate
Negotiation is a delicate balance of give and take. I will be better equipped to help if you establish your negotiable terms from the outset. For example, what is the lowest price you are willing to accept? What conditions would you be willing to improve or change to accommodate the buyer? What is your occupancy deadline as well as inclusions and exclusions?