As professional Realtors, we know the importance of pricing and we encourage our sellers to rely on our advice. That said, pricing can be an inexact science. Some properties are just more difficult than others to evaluate. They can be located in an area of slower real estate activity where there is insufficient data. Or there can be unique features that make comparisons unworkable. There is a way forward, though. We recommend beginning marketing with an asking price we suspect may be high. We then carefully monitor the reaction of the market. If we get enquiries and especially some showings, we’re comfortable staying with the initial price, at least for a time. However, if we don’t get any activity, we ask for incremental price reductions until such time as enquiries and showings develop. This is a reasoned and responsible approach and usually leads to a sale.
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SALES THIS WEEK: 26 [SUNSHINE COAST, ALL OFFICES]
NEW LISTINGS THIS WEEK: 53 PRICE REDUCTIONS
CURRENT LISTINGS: 1318
DET’D SALES to LIST RATIO: 11%
11% 15% 22%+
*The Sales/Listings Ratio is a guide to market conditions. A value below 15 favours buyers.
15 – 22 reflects a balanced market and over 22 gives the advantage to sellers.