DURBAN – Whether it is a buyers or seller's market accurate valuation and pricing of your home is imperative if you aim to have a successful transaction according to Richard Gray, the Harcourts Africa chief executive.
Realistic pricing is relevant to accurate market value and often buyers will compare your home to the properties in the area so they can gauge an insight into the true market value.
Market fluctuations and economic pressures undoubtedly influence the price of property and we've seen some homeowners having to drop expected prices due to the external economic factors affecting the market from a holistic perspective.
Therefore, If your property is over-valuated it not only wastes valuable marketing time but it can very often gain a stigma that negatively affects the perception of the home going forward.
In the end, you may end up getting far less for your property than could have been initially obtained. No matter how well your property is marketed, if the price isn't right, it won't sell.