Four Common Real Estate Pricing Mistakes

Selling a property can be exciting, especially if the property sells quickly. At the same time, it becomes distressing if the property is put on the market for some time and nobody inquires about buying it. Showing genuine concern as a seller at this point is legitimate.

Wondering why nobody is calling to inquire about your listed property? Jumia House has compiled a number of pricing errors that many sellers make, that could be driving away potential customers, and gives guidelines to help you price your property right:

Pricing the property higher to allow for negotiations

A lot of agents and property owners price their homes high to give potential buyers room to negotiate. However, the truth is that if the price of the property is too high, no home buyer will come near the property. Make sure when you are deciding on a price that you take into consideration the size of the property, as well as its location. All sellers should take note that pricing the property too high makes it more difficult to get it off the market.

Pricing the property higher because you have not done your research

A number of sellers price their properties without performing any market analysis. Scrutinize the market before you price the property too high or too low. If you are not certain about the price, you can also test the market. If you do not receive any leads for the property, it is possible the price is too high. To avoid any guess work, contract a professional who will aid in determining the actual price of the property. You can also visit online real estate portals like Jumia House and compare your property to others on the market.

Selecting a broker who offers to sell the property at the highest price

When selecting a broker, do not be swayed by those who will offer to sell the property at the highest price. Selection should be based on skills, track record and recommendations made by other people. House-hunters can easily figure out if the price of your property is too high; they can easily compare prices of other properties online.

Not willing to negotiate

Some sellers price the property higher because they have the notion that the property will sell no matter how long it stays on the market. Even with the high price of the property, such sellers refuse to reduce the price even when clients negotiate with them. They refuse to bring the price down, believing that another buyer will offer them a better price for the same property. In certain circumstances, this works for the sellers, but mostly if the price has been inflated, it will not even attract any interest.

Share with a friend

Related posts

anewyear

Seven Bold Home Décor Ideas 2020!

anewyear

It’s the new year already and time for some bold home decor ideas….

Share with a friend
Read More

How to Get Rid of Flies

Flies are a menace! Especially the lazy ones that just won’t move no matter how many times you wave your hands to…

Share with a friend
Read More

5 Alternate Uses for Lemon

This is not a when life gives you lemons make lemonade post. Ghana’s only dedicated property portal presents five alternate…

Share with a friend
Read More

Search

October 2020

  • M
  • T
  • W
  • T
  • F
  • S
  • S
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31

November 2020

  • M
  • T
  • W
  • T
  • F
  • S
  • S
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
0 Adults
0 Children
Pets
Size
Price

Compare listings

Compare