Why pricing your home correctly is critical in 2022!

Hello everyone,?another year is with us and it is going to be a very interesting one for the property market.

The early signs from late 2021 and early 2022 show a slowing of Wellington price rises for the first time since 2015.

Whether this will continue for the entire year remains to be seen, but getting the pricing of your home right from the start is the very best way to ensure you attract as many buyers as possible at your price point.

Buyers are becoming better educated all the time. Online value estimates and all manner of market statistics are now just a few clicks away. Experienced purchasers can spot an under-priced home from a mile away.

Conversely, when a home is priced 10% too high, buyers notice immediately. As a result, viewings can be surprisingly quiet, even in a hot market!?

The dangers of pricing too low.

1. You only get to sell your home once. This is your once-a-decade chance to maximise your net worth.

2. A premium sale price is likely a big gain if you get it right. If you are selling your family home, every extra dollar you get is equivalent to earning it in your normal day job, which could take years.

3. Selling your home below market value leaves a bad taste in your mouth for years.

The dangers of pricing too high.

1. You miss the boat. Your property will be busiest in its first two weeks on the market, while it's new and fresh. If you don't attract a buyer in that initial window, you might end up selling for less at a later point.

2. You could end up staying on the market longer than you need to. No one likes keeping their home spotlessly clean for weeks on end. Especially when it ends up costing you money in the form of a lower sale price.

3. You only get one shot at it. You can't just change the price to market value after a month on the market and suddenly achieve a sale. By that stage, buyers get suspicious. They decide there must be something wrong or your home would have sold already.

What's the solution?

Expert advice. If you want to avoid making a costly pricing mistake, it pays to work with a professional who knows your market inside out.?

Use these tips to get the price you deserve...

1. Invest in the very best photography. Give your home every chance to attract multiple offers if at all possible. Remember the first thing people see of your home is the photos.

2. Don't be in too much of a rush. You don't want to sit on the market forever, but you want to ensure every hot buyer in the market knows your home is for sale when you accept an offer.

3. Avoid the temptation to 'test' the market with a high asking price. If you hear yourself thinking "we can always lower the price later on," that's a red flag. Over-priced houses stay on the market for longer than average. And when they do sell, it's often for less than market value, as buyers think there must be a problem with the property.?

Above all...

Hire the right person to represent you!

A good agent can often add 5-10% to the value of any property by co-ordinating competition, advising on presentation and pitching your home correctly to attract the right buyers.