How to know when your house is overpriced!

That’s ridiculous! I won’t even look at it!” Yep, this is what buyers typically say when a home is drastically overpriced.

Did you know that if you over priced your home, most likely it will not sell for anywhere close to what it is really worth? You will actually get less money and not be moving any time soon!

The market sets the price, not the Real Estate Agent or for that matter the seller. The reason it will take longer to sell is because the market has to catch up to your price and that could, in some cases, take years.

Often, buyers who can afford it won’t even look, because the home seems out of their price range. Or, they may realize it is over priced and refuse to consider it. Your best opportunities to sell come within the first 30 days of going on the market. Additionally, you will also be unwittingly assisting other homes to sell at your expense.

10 signs of overpricing a home:

 

1. No showings.
2. No second showings.
3. Showings but no offer.
4. Only “low-ball offers.”
5. Buyers look at your home but buy another.
6. Top agents have turned down the listing.
7. Your listing expires unsold in case of a sole agency.
8. You are on your third listing with a third agent at the same price.
9. No other homes in the area have sold for that price.
10. You believe your home is the best home, and need the money.

Use a reputable real estate agent to guide you accordingly.  Ask them to give you a comparitive marketing analysis so you are sure that firstly your real estate agent knows what he is doing and secondly you can get the right market price.  A reputable real estate agent should be professional and give you follow ups for every viewing.  One might consider signing a sole agency.  This way your real estate agent in Malta will invest time and money selling your property.  They should have more interest in yours than others because if you are ready to sell at a market value your property in Malta should sell in the quickest time possible.

RE/MAX MALTA wins Best Real Estate Agency in Malta at CNBC International Property Awards

On 27^th September 2008, RE/MAX Malta was  awarded the prestigious 5 star award in the category of ‘ Best Real Estate Agency’ in Malta and a 4 star award in the category of ‘Best Real Estate Agency Marketing’ in Malta at the annual gala dinner of the CNBC International Property Awards held at The Park Lane Hotel in London.  

The awards were judged by over thirty high profile professionals including Eric Pickles, British Shadow Secretary of State, Peter Bolton King, chief executive of the National Association of Estate Agents and Thijis Stoffer, International Consortium of Real Estate Agents Association (ICREA).

The CNBC International Property Awards are amongst the most prestigious international accolades in the property industry.  

Founded back in 1995, the awards have grown from strength to strength and in 2008 the organisers received submissions from over 70 countries. The awards are also endorsed by some twenty national and local property related associations worldwide.

Commenting about these awards RE/MAX Malta Managing Director, Kevin Buttigieg said that “we are overwhelmed to be nominated best real estate agency in Malta by such a world renowned and prestigious organisation.  Considering that this is the first time we have participated in these awards it is an incredible achievement. Throughout the past year the management, associates and staff have worked very hard to ensure that the service we offer to our customers is second to none and we are pleased to note that our efforts have been recognised.”.

Mr Buttigieg added that “with eight offices strategically located around the Islands, winning these prestigious awards not only demonstrates the company’s strength but also reconfirms that RE/MAX Malta is one of the leading real estate companies in Malta and Gozo. “