Pricing Your Home
The single most important selling decision you make is determining the right asking price for your property.Working with a Realtor to determine the most appropriate selling price can have a real impact on the selling process. Pricing too high will keep buyers away, and pricing too low may attract the wrong buyer for your home. Strategically determining the optimal asking price is the first step in selling your home for the best possible price in the shortest amount of time.
Working with a Realtor to arrive at a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door.
The Benefits of Pricing Right
- Your property sells faster, because it is exposed to more qualified buyers.
- Your home doesn’t lose its “marketability”.
- The closer to market value, the higher the offers.
- A well-priced property can generate competing offers.
- Realtors will be enthusiastic about presenting your property to buyers.
Determining the Value of Your Home
The market ultimately determines the true value of your property. Before you compare your home to similar properties and establish a competitive list price, the following points should be considered.
- Community Amenities
- Financing Options
The Dangers of OverpricingAn asking price that is beyond market range can adversely affect the marketing of a property.
- Fewer buyers are attracted, and fewer offers received.
- Marketing time is prolonged, and initial marketing momentum is lost.
- The property attracts “lookers” and helps competing houses look better by comparison.
- If a property does not sell above true value, it may not appraise and the buyers may not be able to secure a loan.
- The property may eventually sell below market value.
- The property sells for less than it’s worth.