Market Matters

10 Ways We Help Sellers Set Realistic Price Expectations

The Australian real estate market is changing and it's more important than ever for real estate professionals to help sellers set realistic price expectations. In this article, we look at 10 ways our agents at Century 21 help you do just that.

It's no secret that the market has shifted from a bull seller's market to more of a normal real estate market and we're seeing more listings available for buyers to choose from. Adjusting your expectations as a seller can be key to achieving a successful sale in today's market.

Here are 10 ways Century 21 agents help sellers set realistic price expectations:

1. USE DATA TO SHOW YOU HOW THE MARKET HAS CHANGED

Century 21 agents have access to real-time data that shows where the market is right now. Relying on sales price data from 6 months ago, or hearsay is not a solution – there is an abundance of data to back up realistic price setting.

2. COMPARE YOUR PROPERTY TO SIMILAR PROPERTIES THAT HAVE SOLD RECENTLY

We will compare apples with apples, or rather your home to others with the most similar attributes that have been sold recently in the local area. This helps sellers understand what the current market is like and how their home stacks up.

3. EXPLAIN HOW PRICING AFFECTS BUYERS' PERCEPTIONS OF VALUE

When you set the price of your home, it can have a big effect on how people see it. If you price it too high, some people might think that it's not worth as much as other homes in the area. But if you price it too low, people might think that there must be something wrong with it because no one would sell for so cheap unless there was a problem. Finding the right price for the market is important so that people see your home in the best possible light.

4. SHARE WHAT BUYERS ARE SAYING ABOUT OVERPRICED PROPERTIES

News articles, feedback in local community discussion threads, recent home inspection comments from buyers on other sales, all help tell a story about what is happening in your local market right now. This commentary backed up by data is a great way to start the process of price setting.

5. HELP YOU UNDERSTAND WHY YOUR HOME MIGHT NOT BE WORTH AS MUCH AS YOU THINK IT IS

It can be a hard pill to swallow but sometimes we have inflated ideas of the value of our own home. Honest advice is very important and Century 21 have been recognised as Australia's #1 real estate company when it comes to quality, trusted service. Our agents start with a realistic, real-time market assessment of your property’s value as part of pricing conversations.

6. ENCOURAGE A PRACTICAL APPROACH TO YOUR TIMEFRAME FOR SELLING

Century 21 agents help sellers be realistic about their timeframe for selling. We help them understand that they might not sell as quickly as they want to, and that's okay. We will work hard to get their home in front of as many people as possible so they can find the right buyer and get the best possible price.

7. OFFER ADVICE ON MAKING YOUR PROPERTY MORE APPEALING TO BUYERS

Century 21 agents will offer recommendations on how a homeowner can make their property more appealing. We help sellers understand what buyers are looking for and what you need to do to make your home stand out from the competition.

This includes making simple changes like decluttering or painting the walls a new colour. We also advise when bigger changes might be necessary, like renovating the kitchen or bathroom. Making changes can help sell your home more quickly and for a higher price than if you did nothing at all.

8. SUGGEST STRATEGIES FOR MARKETING YOUR PROPERTY EFFECTIVELY

Century 21 agents can help you market and style your house in a way that will make people want to buy it. With local, national and global reach via our websites, along with a local marketing campaign across print, portals, email and social media we will maximise your property’s exposure. Opting to spend less than advised on marketing can often have a detrimental effect on your sale result.

9. BE HONEST ABOUT THE CHALLENGES OF SELLING IN TODAY'S MARKET

Century 21 agents tell homeowners the truth about the challenges of selling in today's market. We will be upfront and honest if we think that it might be harder to find a buyer and work with you on adjusting expectations as part of the journey of selling your home.

10. HELP YOU UNDERSTAND THAT A LOWER PRICE DOESN'T MEAN THEY'RE GIVING UP

Century 21 agents tell sellers that if they lower their price, it doesn't mean that they are giving up. Working with you to adjust a pricing issue and find a solution is our job as property experts.

Century 21 understands that the Australian real estate market is shifting to more of a normal real estate market and we want to help sellers set realistic price expectations.

Our team of experts are here to offer advice on how you can make your property more appealing to buyers, what strategies you can use to market it effectively, and have honest conversations about the challenges of selling in today's market.

Contact us today to learn more about how we can help you sell your home.