Many people don’t really understand the concept of value when it comes to real estate. When we value properties, we are always asked how much a property is worth. But, at the end of the day, the true value of a property is what it sells for and nobody knows that until it’s done. Thus, leading us to the discussion between the price you want as a seller versus your agent getting you the best price.
The best price is a price that is derived after exhausting a market place against each other and arriving to a figure that is greater than all competitors. It is rare that the price you receive is exactly how much you want. The best price for a property can fall short or extend over a vendor’s asking price.
The most important fact to remember when selling, is to have a figure in mind, but open to hearing and executing on the feedback of buyers. This will help you prepare for receiving the best offer available. That number may be below, at or above your perfect selling price. As long as your agent has communicated all buyer feedback and you have made an informed decision on whether the offer is the best price, then you will take the right course of action.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.