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How buyers agents determine purchase price

‘Anyone can go out and buy a property but the challenge is to buy the right property that will reap you maximum financial gain in the long term, create wealth and lifestyle benefits.’

 Mark, Head Buyer’s Agent.

A property’s worth is judged primarily by ‘how much is somebody prepared to pay for it at the time?’  When determining a property true value a buyer’s advocate considers:

 

  1. Recent sales that are comparable to the property:

    Taking note of the prevailing market conditions, as these can generate a genuine insight into short-term trends and help prospective home buyers gain a feel for what they will need to pay to achieve their goals.

 

  1. Local market demand:

    If high buyer demand exists at a time when very little property is actually available, prices are likely to increase.

 

  1. ‘Seller motivation’

    – the reason the current owner is attempting to offload the property – might also play a major role in determining the final cost. If a quick sale is required, vendors have little choice.

 

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A Wise Buyer’s Agent can provide you with information and advice regarding all aspects of the house hunting process through competitive market analysis.

 

 

 

 

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