Selling your home will be one of the hardest decisions you make. But pricing the home will make the difference between the amount of activity that is created on the internet, and the amount of showings to ultimately the time on the market.
- Research Market Value:
Before you even consider setting your asking price it is important that you do your homework and see what comparable homes have sold for recently. It is important that you use the most recent comparable home sales when pricing your home for sale. The most recent sales would be those properties which sold within the past six months in your neighborhood.
- Don’t Let Your Emotions Decide the Price:
We all have a sentimental value that we see in our home, especially if your family has enjoyed many years there. However, you need to remember that it is also an investment in your future and the future of your family. The fact is, potential buyers don’t care about your feelings so be sure and price your home correctly and avoid allowing your emotions to get in the way of selling your home.
- I Have Time To Sell So Lets Start High:
This is a mistake that you should be avoided when pricing your home for sale. It is best to price the home correctly from the start to avoid any potential loses down the road. In reality, most buyers will know you have had it for sale for an extended period and begin to wonder why. In today’s housing market overpricing a home and waiting to see if you can get the price will typically lead to getting less in the end.
- Lets Start High and Lower the Price Later:
Pricing your home high may sound like the best way to go, but in the end you will lose money in the sale. In real estate listing a home above market value will deter most potential buyers to even look at your home. When you finally decide to price the home correctly, you would have lost out on any real potential buyer because they will have found something else.
So in the end, pricing your home will be the biggest decision you make in selling your home. Believe it or not, it could make the difference between a quick sale and the amount of cash in your pocket.
If you are considering selling your home and have any questions, please contact me. I would be happy to have one of our associates provide a market evaluation for your home so that you will have the shortest time on market with the highest price possible.