By Thanasis Stamou – Director of INVESTA Real Estate
We went through a year (2021) where residential real estate prices were on the upswing. The fact is that the market has been changing in recent years. However, this does not mean that there are no price limits for each property. If you have entered the process of selling your property and think that you may have overvalued it, see the signs that will confirm it.
Price comparison with similar properties on the market.
If your price is higher than similar properties in that market, then you've probably set it higher than you should. Many times as property owners we fall into an emotional trap and think that our property has a great value. Once the property is on the market it will be compared to similar properties for sale. Ask your Real Estate Consultant to cross-reference you with details and comparisons with recently sold properties.
At this point beware of brokers who, in their attempt to take over your property, accept any higher price. Always ask what market research has been done and what valuation methods were used.
Online real estate ad with few views.
The search for real estate on the part of buyers, today takes place more than ever, on electronic media, websites, portals, etc. When the property ad has few views, it means that the property has been put on the market at an incorrect price, higher than the commercial price. its value relative to the competition.
There is no flow of prospective buyers.
The answer here is the same. When there is no interest in the property and the listing is not responding to calls from buyers, then the property is being marketed at the wrong price, obviously higher than its true market value.
You have not received any purchase offers.
In today's market with the number of qualified prospective buyers at an all-time high, not receiving an offer on the property soon is a sign of not attracting a serious buyer. Price is the major obstacle in this process. Our company's statistics show that if a property is priced correctly on the market, it receives at least one serious offer within the first 4 weeks.
You only get low bids.
This is because today's buyers are more "educated" than ever before. They are knowledgeable and can easily compare a property always against its competitive market. They then make an offer they deem appropriate to acquire the particular property.
Similar neighboring properties for sale but not yours.
And here the answer is obvious. The price has been set incorrectly and is preventing serious buyers from going ahead with a deal on your property.
Pricing your property right on the market is very important. A property receives the most interest the first time it is put on the market. The interest is clearly greater during the first 4 weeks period if it is realistic to place its trade value. Of course, the final choice is always yours and must be evaluated.
The real estate company INVESTA Real Estate Larissa always operates with the aim of estimating the correct current commercial value of selling or renting your property.
Book a real estate appraisal appointment with one of our partners at 2411104111 and find out about its current commercial price based on the competition and its strengths!
Thanasis Stamou is the director of
INVESTA Real Estate - Larissa real estate agency. He has experience in the field of real estate since 2005. He is a real estate agent, appraiser, negotiator and investment advisor. Specializes in training Real Estate Consultants.
