If you're planning on selling your Bulimba real estate, it could be a good idea to ensure you value your property correctly and set the right price, in order to save yourself both time and money in the long run.
According to new analysis from RP Data, the faster a home sells, the less vendor discount is incurred – and setting the right price can help to sell your home faster, resulting in a lower discount.
RP Data researcher Cameron Kusher said in a July 18 statement that this makes it possible to avoid the discounts which occur if a buyer thinks the price is too high.
"Getting the price right in the first place is imperative – you can sell quicker and move on to your next property. Holding out for a better price tends to ultimately result in a greater level of discounting," Mr Kusher said.
"One of the greatest challenges for vendors is whether to accept an initial offer on their property or whether holding out for a better price is a better strategy."
In Brisbane, for example, a property that sells within 30 days is subject to an average vendor discount of 4.6 per cent. If the property is there for over 120 days, this average discount skyrockets to 10.7 per cent.
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