THE DIFFERENCE BETWEEN BEING FOR SALE AND BEING SOLD

Dated: June 22 2022

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 THE DIFFERENCE BETWEEN BEING FOR SALE AND BEING SOLD

The difference between “being for sale” and “getting to sell” lies mainly in the sale price.

 Therefore, it is paramount that the correct price is determined before the property is put on the market. The market and that the competition is constantly analyzed to be able to adjust the price when necessary.

ERRORS WHEN DETERMINING THE SALE PRICE?

● Rely on the properties of neighbors who have NOT managed to sell

● Try to recover the money invested in renovations

● Be based on personal financial need

● Attempt to sell without motivation or need, which makes it difficult to compete with owners who have a real need to sell.

● Start high to “test” the market and lower the price in the future

 

7 STRATEGIES TO DETERMINE THE RIGHT PRICE

● Use the properties that were sold in the last 3 months (up to 6 months if necessary) to determine the average sales price within your building or community.

● Analyze the available properties in your building or community to position your property as the #1 option in the market.

● Remodeling is considered an added value if you do not try to recover the cost

● Be aggressive on the price, start with a very attractive price to create competition among buyers and have several offers to negotiate.

● The market never allows you to “give away” your unit. If you're way below the actual price, buyers will bid above the list price. Remember that you are not obligated to accept any offer.

● Take into an account the days that these units were on the market before being sold (DOM-days on market).

● When in doubt, hire the services of a professional appraiser.

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Alvaro García P.A.

I grew up in South America, after graduating with a degree in Architecture, I found my first job in Miami with RVL Architects in 2000. During my 4 years working for this well know and established arch....

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