Remember that a house is worth what a willing buyer with knowledge of all relevant facts is willing to pay for. To determine the right list price for your home, Apil Properties agents will help customize a structured estimate of your property to give you the best value. We will walk you through the nuances of the market and help you understand the many factors involved in pricing decisions. It is not just about crunching numbers, but creating a desirable offer that enables buyers to visualize themselves living in your property.
A Good Real Estate Agent Is Key
Make sure you hire someone registered with Real Estate Regulatory Agency (RERA) in Dubai. To identify if the agent is telling the truth. Ask for their RERA card.
A good agent is someone who would be honest with you. They will not shy away from explaining what parts of your property would be deemed undesirable by buyers. Just as importantly, you must feel comfortable relaying your concerns and not feel hesitant to ask for advice from them.
How Can Apil Real Estate Help?
Apil Real Estate has the means to sell your property faster at a competitive market rate. We will delegate an agent that specializes in your area in Dubai. Keep in mind that dealing with multiple agents will be a headache for you and your tenant(s) should you have one. Our agents are trained in maximizing profit with minimal concern for the seller. Our agents are also trained in checking documents to validate legitimate buyers versus time wasters. We offer our expertise in enhancing your investment.
Why choose Apil Properties? Because we simplify the key factors in deciding how much you can sell your home for you.
Here Are Our Tips for Competitive List Prices in Dubai
• Always rely on market data.
• Apil real estate agents will provide personalized approaches better than online estimates
• Emotional pricing is not encouraged. Over-pricing and under-pricing can make selling your
property take longer, cutting into your scheduled projections.
• Old listings oftentimes get ignored. The key strategy is to sell fast to get the best price.
• Try to encourage a bidding war. This is best started by allowing Apil real estate agents to do strategic under-pricing.
Why Is It Important to Price Your Home Correctly
While there is no “correct” price and you decide what you’re willing to pay and offer to the seller, determining fair price is the best way to gauge how much you can realistically sell your property. Properly priced homes affect buyer interest and selling time. The right price will always attract a large number of serious buyers. The higher the number of potential buyers, the bigger the chance for someone to make an offer. And with multiple buyers making offers, your potential to start a bidding war is assured, increasing your selling price.
Review Up to Date Market Data Around Your Property
Check which comparable properties in your area have been sold recently. Your real estate agent will be very helpful with this aspect of property selling. Market data is one of the primary factors in how realtors determine how to price a home. Your agent can assist you with how much you can ask a competitive price. They’ll also have access to brokerage-specific tools to help sift through what is available in the market to find the most relevant comparable properties.
Make your agent do a comparative market analysis with relevant comps. Do side-by-side price adjustments with the value of features and amenities added and subtracted comparing the subject property to the relevant comparable. Make sure to pay attention to square footage, how many bedrooms and bathrooms your property has versus what else is on the market. Compare the condition of your property against others so you can properly determine pricing. Regularly browse available listings to see what features are being highlighted in their houses. Once all these data are available to you, evaluate what features of your property to best highlight and how they can affect adjustment in pricing in comparison to others.
Why Tailored Strategies Are Important for Home Sale
Dubai real estate market has been changing very quickly. Determining fair price within your neighborhood will take time and various cross-checking of data to find what sold for the current month and compare properly. Your realtor should be able to help you figure out a reasonable offer. That’s a huge part of the value of a buyer’s agent. Apil Properties has a lot of current customers that they can refer to your home listing as well as assist in getting you professional photos and video for the property so that you have something to show potential buyers.
lower-priced
Over-pricing and Under-Pricing Can Hinder Sales
Imagine you are the buyer and there are two similar properties being sold in the area you are interested in. Would you be more interested in touring the higher-priced one or the lower priced one? With over-pricing, you run the risk of deterring your potential buyers. The market will speak and their motivation will generate action of price reductions. This is not ideal for the seller nor the agent helping you, because you won’t be able to capture that initial momentum of a hot-priced listing.
Refusing to yield and insist on holding firm on over-priced houses may result in never selling the property due to the competitive market. Something else to keep in mind is that when someone overprices a home, and the buyers see the price drop week after week, the resulting free fall can cause many to hold off expecting more drop in prices. Homes that are too overpriced get stigmatized by the buyers as a difficult seller and do not bother seeing it versus a home that is under-priced.
On the other hand, underpricing has to be handled carefully. While bidding wars are a huge possibility with under-pricing a home and attracting multiple offers from interested buyers, missed profit opportunities are the biggest downfall of under-pricing. There is also the possibility of buyers being suspicious of your low market price, making them wonder what could be wrong with your property to make you sell so low. This can cause them to pass by your listing. Sellers can likely recover from overpricing a home by dropping the price to the actual market value when it doesn’t sell due to the high price. When underpricing a home, the dollars between the sale price and true market value are likely gone forever when sold quickly due to the low price.
Why Selling Fast Is Ideal
Listings that stay in the market too long imply issues with either the seller or the property. Buyers will think negatively and approach any possible transaction with suspicion. They will definitely be reluctant to accept your list price. Another thing to keep in mind, a home that has been listed for too long might be owned by a motivated seller. Buyers will feel encouraged to demand discounts, thinking they now have the advantage over someone desperate to sell and think that they will be likely to get the property at a price reduction just to close the transaction. This will increase selling costs.
Why a Bidding War is Best Handled by Agents
Real estate is an easy science: good price, good product. But always remember that selling is an art. Right now, listing under market value is the most common pricing strategy. The thinking is that it basically sets a reserve price for what is essentially an auction. Demand is pent up and many are looking to buy, using every dirty trick they can come up with to get the seller to drop their prices even as they try to outbid other buyers. Your agent will act as your shield against these tactics. They will also be best at checking which buyer is serious, and who has enough funds and banking credits to push through a sale. A skilled agent knows when to use their understanding of market demand and the legalities of the law to drum up competitive final sale prices for the seller.
Why You Should Be Flexible to Potential Buyers and Your Listing Agent
Buyers check multiple listings on any given day. Very few would buy a property at first sight or at the listing price. Being rigid with pricing can alienate potential buyers, whereas doing the opposite of being willing to adjust market price shows you are responsive to market demands. It gives the impression you are willing to sell. This is key in attracting more potential buyers to check your listing and secure a timely sale. If necessary, discuss with your agent where to use strategic price cuts when negotiating. Listening to your agent’s advice can lead to better adjustment when it comes to competitive market conditions.
Apil Properties Can Help You with All These
Do you know how to submit an offer to a seller’s agent? Do you know how to fill out all of the appropriate forms, or what forms you need to accept the offer? Did you know that you need to check for any liens against the property and possible existing mortgages? What about the inspection process and following up with the seller should an issue occur mid-transaction?
Paying a real estate agent to walk you through the process, handle the heavy lifting, and tell you what you need to do will be worth the money of hiring our agents to help you in the process. Documents like Form A, which is needed for submission for a Trakheesi system are important, and without a real estate agent, you will be required to do all the necessary paperwork to start your selling journey. Apil Properties offers access, experience, and connections. Our agents will be there to make sure you don’t make mistakes or get yourself into a very bad situation. They can help find you houses you might like, do comparisons to make sure the price is good, and ensure you get your money’s worth. Hiring a professional might be expensive, but hiring an amateur will be even more so. The best part is if you use us for your listing, we will offer free one-year management from Apil Properties.
