Houses set at the right price will always sell
If we are to be honest, home owners have little or no knowledge about the real monetary value their houses should fetch.
It does not help that the Kenyan culture teaches us to bid the highest price and milk as much as possible from the sale. There’s nothing wrong with that until your house has been on the market 359 days and you are less than a week away from your one-year anniversary.
Any real estate Guru will tell you that at some point, you have to price down in order to sell that house. There is no miracle coming to save an overpriced house.
Choosing when to reduce the price of your house is not easy, but if you have to do it, you have to do it.
Is your realtor overpricing your house?
Pricing a house for sale is a critical equation in any real estate transaction.
Real Estate overpricing is very common with an agent who is worried about where their next transaction will come from. This is however a very big blunder because there is no way an overpriced house will sell.
You can bank on that.
If you have been getting very few showings, have not received an offer and constantly are being told that your house is overpriced you really need to figure out if you want to sell or not.
If you can’t sell the home for what the market tells you it is worth, then you shouldn’t have it for sale.
Trust Kenya Homes to give you the factual figures and watch people scramble to buy that house.
Perhaps its not the realtor, its just bad lighting.
Would you buy your home if you saw it on sale? Detach your emotions and let’s reason here for a minute.
Are your pictures attractive? What about the video, do you even have one? Is your “For Sale” sign in a good position where it is highly visible? Does it list several different contact numbers and the website address?
The biggest mistake home owners in Kenya make is assuming that the buyer will see through the poor branding and notice the amazing features the house has but have not been highlighted.
Do you catch the drift?
If your checklist ticks on all those questions, then the problem goes back to your home being overpriced.
You can only reduce it once
Ideally, you should price the house at a competitive rate and never have to reduce it further.
Realistically, the house might not sell and you may be forced to reduce the price. Sometimes, the problem is not the agent but you. You may have been so attached to the house that you over inflated its real market value.
If you have arrived to a point of reducing the price, note that multiple price reductions will start to make your home undesirable.
Don’t sit pretty
You need to have done your homework thoroughly.
Better yet, get a genuine realtor who will help you tone down the price but remain competitive. There’s really no point of selling If you are not getting value for money, is there?
Hopefully you find a reason to celebrate once you price your house correctly.
Use these additional resources to make sounds decisions when pricing a home for sale.https://kenyahomes.co.ke/blog/worst-home-selling-advice/
