A seller whose home is taking longer to sell than others within their market may need to reconsider their listing price, says Adrian Goslett, chief executive of Re/Max of Southern Africa.
Knowing the competition is “crucial” in this regard.
“As a rule of thumb, for those who hope to secure a timeous sale, a property should be priced at an average of the top 10 cheapest listing prices of similar properties for sale in the area.”
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While there are plenty of willing buyers these days, he says buyers tend to understand the market well and will simply ignore the listings that fail to offer good value.
“Sellers need to remember that, within the current economic situation, buyers are in need of a good deal just as much as the seller is in need of a good price. While it is okay to leave some space for negotiation when setting the listing price, I would advise sellers to list close to the low-end of their price point if they want to sell more quickly.”