You can have the best house in the development and ruin its sale with a single wrong number.. These are the mistakes when pricing a home that we see repeated every week — and why going expensive doesn't make you earn more: makes you sell cheaper.
Error 1: the sentimental price
“It cost me, I gave it a Y renovation, so it's worth X+Y+something”. The market does not pay for your memories or all your renovations (a good kitchen; marble to your liking, not necessarily). The only real price is what buyers pay today for homes comparable to yours, in your area and in your state.
Error 2: copy neighbors' ads
Portals show what people ask, and many of these ads have not been sold for months — precisely because they ask for too much. Anchoring your price to your neighbor's ad is inheriting their mistake. What it reports are the closed sales: How much and how long did it actually sell for?.
Error 3: “I come out high, I'll go down”
The most expensive of all. Your ad receives the most attention in the first two or three weeks; If the price scares away buyers at that moment, they don't come back. Then come the gradual descents, that the market reads as weakness (“something will have”, “Let's wait for another discount”), and the house burns. Statistically, Houses that are well priced sell sooner and masks than those that come out high and go down.
Error 4: leave “trading margin” gigante
A reasonable mattress is healthy; and 15% “to haggle” it takes you out of your real buyer's search filters (that searches up 200.000 € and you appear in 230.000 €) and attracts the professional bargain hunter instead. The margin is negotiated in the offer, It is not hidden in the advertisement.
Error 5: ignore your likely buyer
In Torrevieja and the Costa Blanca, your buyer is very often international: Compare your home with all the offer in the area in your budget, decides in a few visits and punishes out-of-market prices without even negotiating — he simply doesn't ask. The correct price is also a tool for attracting visits.
How to set a good price
With method: Comparable real sales of your development, adjustment by state, orientation, plant and extras (los factors that raise and lower the price), active demand for your typology and an exit strategy designed for the first three weeks. This is exactly what we do at Mayrasa with our free valuation —and then, if you like, we execute the sale so that the well-placed price becomes offers. The best deal on your sale is made the day you set the price.
