Why Setting the Asking Price Right is so Important in Vancouver Real Estate

The BC housing market has been cooling off. Real estate sales of detached homes, condos ad townhouses have been dropping month-over-month and the supply of homes exceeds the demand from the buyers. The Vancouver real estate market is not much different from the rest of the city and prices of homes here are lying flat after increasing for a long time.

Vancouver realtors are of the view that it has become a buyer’s market in most respects. If you are planning to sell your house in Vancouver this winter or spring next year, a lot depends on the right selection of the realtor and the asking price set for your home.

Real Estate Asking price

Asking price is important in all housing markets. But it assumes crucial importance when there are very few buyers in a housing market. If you are selling your home, you obviously want to fetch the highest possible price. You have a sentimental attachments to your home and beautiful memories of moments spent with your loved ones over the years. However, homes do not sell on sentiments. They sell based on the features buyers are looking for.

Real estate agent

You need to set the asking price in consultation with your real estate agent. He is a professional who knows the area like the back of his hand. More importantly, he has access to the Vancouver real estate data for prices of comparable properties sold recently in your area.

Best realtors

The best Vancouver realtors know how to catch the attention of maximum numbers of buyers looking for homes in the area. Of course, you may not like their strategy of home improvements to make your home desirable for buyers. Or you may not agree with the price tag they want to set when listing your house on the market. However, it is better to toe the line of your realtor if you want to sell your home quickly in the current market.

Fair market value in Vancouver

By setting the price higher than the fair market value of your home, you can easily scare away large number of budget conscious buyers. On the other hand, a price tag that is slightly lower than the fair market value can catch the attention of not just serious buyers, but also those sitting on the fences in search of a bargain deal.

Real Estate Tip - The best way to arrive at the right figure is by talking to not one, but several Vancouver real estate agents before you make a decision on setting the right asking price for your home.

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For more vancouver real estate tips, contact Paul Eviston (604-737-8865) or his team of Vancouver real estate agents at Remax Select Properties. Our office is located in Kerrisdale, Vancouver and we specialize in Downtown Vancouver, East Vancouver and Westside Vancouver real estate.  

Learn more at www.pauleviston.com