When you are looking to sell or rent your property, many smart property owners take the time to do their homework and research the market. They may research prices in the local newspaper, visit national property websites or invite several salespeople or property managers to the property to submit an appraisal.
These activities are all very beneficial to determine the price for a property… BUT “Don’t be fooled by price $$$”. Often the advertised price may not be a true indication of the property’s value.
The property owners may be asking $699,000 or $600 per week rent, but is this a realistic price for the property and a reflection of the current market supply and demand?
The most important information that you need to gather and questions to ask are:
· How long has the property been marketed and advertised for?
· What have been the recent prices for ‘sales’ and ‘properties let’?
A property that is not priced in accordance with the market can often cost you money.
If you are selling and need a quick sale an unrealistically priced property can cost you additional interest and lose potential buyers.
If you are renting your property, an unrealistic rent can lead to long- term vacancy periods that can have a greater financial loss to you than the extra $40 per week in rent.
You also need to BEWARE of agents who are prepared to tell you want you want to hear… just to get the listing.
When considering selling or renting your property we strongly recommend that you do your homework, research the market and ask relevant questions in regards to the price.
Look for our regular weekly installment Contact us +6 17 3817 6666 | www.daviddeane.com.au
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