If you are looking into either buying or selling real estate, you may be trying to figure out which advice to listen to. Consider checking out property listing sites like PropertyGuru Malaysia whether you are buying or selling property and read these top ten real estate tips for buyers and sellers.
Buyers Should Not Overreach on Price
A bidding war can cause you to overspend, but spending too much can make your house difficult to resell once the prices stabilize or sink. If you’re planning to live in your house long term, paying a premium on the house is not necessarily a bad idea. However, you should set a bid ceiling and look at similar homes in the neighborhood to determine how high to go. Don’t place all of your eggs in one basket. It’s important to have other options, so that you are less inclined to overbid on one house.
Sellers Should Not Set The Price Too High
Sellers often make the mistake of setting the price too high from the start, according to Realtor Mag. Unfortunately, this often causes potential buyers to overlook your listing and your house remains on the market for a long time and ends up underselling. You are actually much more likely to receive an offer close to your home’s real value if you set the price at about five to ten percent above the market. However, you should consider whether your home has better qualities than the other homes in your area. If so, it might be worth it to go much higher than the average market value. Also, do not feel like you need to offer to pay closing costs or offer additional incentives to the buyer.