When asked to price a property, a real estate agent has the opportunity to impress the owner and obtain a listing.

Listings are the lifeblood of any real estate career.

For an untrained agent who lacks high-level marketing and negotiation skills, the only way to impress and subsequently obtain the listing is to promise the highest possible believable price they can. Quite simply, they lie to get business. An improbable lie at that.

As property owners, we want to believe. That’s why the improbable lie is so powerful. It allows people to plan their future and move on with their…

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What would you do if you wanted to find out what your property is worth in today’s market? Would you ask for an appraisal or do you get a valuation?

They may sound the same but they’re not.

Do you know the difference between an appraisal and a valuation?

A valuation can only be conducted by a certified valuer, one who has completed the prescribed educational course and is qualified to perform the task of valuing property.

An appraisal, on the other hand, is simply an estimate of a property’s market value, which is what you’ll generally get when you…

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There is a danger of spending large amounts of money for very little return. Works completed on a property rarely if ever increase the value of the property in line with the amount of money spent.

Repairs and maintenance are often needed and are sometimes essential for the sale of a property. Nevertheless, some larger works are simply an owner’s choice to improve their lifestyle. This lifestyle decision should not be confused with the necessities of a successful sale. There is a danger of spending large amounts of money for very little return.

Common examples of lifestyle improvements include a…

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Many people think that there is a correlation between putting a high initial asking price on an advertised property and achieving a high final selling price. There's certainly a link, but it doesn't work the way many people think.

In fact, the opposite is often the case. If a property is really overpriced, purchasers just sit back and wait to see what happens. If they've been looking around long enough to be ready to commit themselves, they've also made themselves very familiar with what they can get for their money.

It is common for inexperienced vendors to overprice their properties…

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