NIK BROWN REAL ESTATE

  Fine-tune Pricing In a free market, market determines the price of any product. We may want to feel that we are in control and capable to determine the pricing of our product as a feel good factor, but in reality, it is always the market that shapes this sentiment. Market feedback is the key to achieving realistic pricing for your home. The progress for the marketing campaign provides key metrics to determine when pricing adjustment may be required.  For example, the weekly outcome of the marketing campaign should provide enough data to evaluate the strategy and pricing for the sale of the house. Incase no offers have been received towards halfway mark of the marketing campaign, the fine-tuning of the pricing should be considered. It is of high importance that assumptions be avoided at all costs, therefore, it is the professional responsibility of the real estate agent to exercise this option with due diligence and support the change in pricing with evidence. Assuming t...

  Curtail Expectations Any home owner would despise the idea of discounting when selling their home Expectations are the bane of any relationship and in this instance, it is the relationship between the home owner and the house. It is very important that once the owner makes the decision to market their home for a sale that they start treating their home as a house , a product rather than their adobe. Once the expectation is set, the owner will be able to maximum on their product by building and revisiting different strategies to sell. Selling a product when there are many out there can be challenging and time consuming. Depending upon the goal of the current transaction and if it is very important to sell in the current window of opportunity, discounting can be a very effective strategy. Now, a few key things to remember if discounting is applicable to your situation: Renovated and high quality homes without imperfections may not need to adopt this strategy to discounting as their...

  Know your local market Cooling of the property market shifts the scales in favour of the buyer.  The difference in demographics is the driver towards impact trajectory of the cooling market across different locations, e.g., Tree and sea changers, during the time of COVID-19, flocking back to the high rises will negatively impact outer suburbs prices as the trend will create a positive impact on the inner city unit prices. As a home owner, if you are interested in selling your property, it will pay dividends by keeping informed at all times. Some of the ways to keep at the crest of the wave are as follows: Subscribe to reputed financial journals and papers. The quality of information from these sources will certainly keep you informed about the market trends and insights. Engage with local real estate agents over casual conversations in order to validate your own understanding and also validate the knowledge of the agents itself. This will help you choose the right agent with...