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November 7, 2010 / realestatetrainingau

Getting price estimates right

''The buyers are price sensitive, so vendors and agents need to get their price estimates right.''

This was the quote from an agent in an article on Domain website, by Jonathon Chancellor today (http://news.domain.com.au/domain/real-estate-news/slow-sales-by-the-beach-20101108-17jgy.html).

Just a thought – when has it really, ever, been any different?

When have buyers not been price sensitive? When has it been anything but essential for vendors to get their price estimates right (if they want to sell their property)? It is absolutely critical for agents to get their price estimates right (if they plan on being around to sell next week!)
 
Getting the estimates right, doesn't always guarantee a sale though. A property will only ever sell for the price a purchaser is prepared to pay for it on the day.
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