An inflated purchase price is like a rotten apple and deters serious buyers. A fair purchase price provides the best basis for a successful sale.

The strategy behind the offer price
The asking price is not the same as the market value or the selling price. As the name suggests, it is the price at which you offer your property for sale. The price at which the property is ultimately sold is another matter entirely.
The sale price may be higher or lower than the asking price. To avoid mistakes and financial losses, it is advisable to seek advice from a reputable local real estate agent.
Analyze the market
In order to set a promising asking price, it is essential to analyze the real estate market carefully. What is the situation regarding supply, demand, and sales prices? Many owners believe that the supply can be estimated by looking at all online real estate portals.
However, not all properties that are for sale are advertised online. Without expert knowledge, it is also difficult to determine how many people will enquire about a property and what price it will ultimately be sold for. It should also be borne in mind that the real estate market is constantly changing.
Property valuation
The basis for a suitable asking price can only be a professional valuation. This takes into account aspects such as location, condition, fixtures and fittings, and individual features of the property, taking into account the current situation on the real estate market.
Pricing strategy
Once you have had your property valued, you will know how much it is worth. However, you should not offer your property at this price. This is because you may not receive any offers or buyers may try to negotiate the price down.
That is why it is often a better strategy to offer your property at a lower price in order to increase demand. In the subsequent price negotiations, you can use the high demand for your property as a bargaining chip and the highest bidder will get the property.
Or you can go to market with a higher asking price to give yourself room to negotiate. However, this approach often has the disadvantage of reducing demand for your property. If no interested parties come forward at first and you gradually lower the price, this gives observers the impression that there is something wrong with the property. In the end, you may even have to sell below market value in order to find a buyer at all.
Conclusion
Figuring out how high the asking price should be when selling real estate is a challenge that most owners find difficult. That's why it makes sense to seek advice from a local, reputable real estate agent. They will determine the value of your property free of charge and help you find a suitable asking price and the right pricing strategy.
Would you like to sell your property at a fair market price? Contact us! We will be happy to advise you.
Note
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please have the facts of your specific case clarified by a lawyer and/or tax advisor.
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