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The Right Selling Price Effects Your Bottom Line
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When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors including:
- Market conditions
- Condition of your home
- Repairs or improvements
- Time frame
In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days.
If the price of your home is too high, several things could happen:
- Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
- Limits showings. Other salespeople may be less reluctant to view your home.
- Used as leverage. Other realtors may use this home to sell against homes that are better priced.
- Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
- Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.
- Wasted time and energy. A bank appraisal is most often required to finance a home.
Realtors have known it for years – Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that’s why you need a professional to assist you in the selling of your home. |
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When we meet to discuss listing your home, we will discuss pricing as it relates to your home. There are two factors involved with the pricing of your home. The price can either be set to bring top dollar for your home or for a quicker sale. Either choice is the correct one based on your situation.
To get top dollar, you will need to be prepared for the home to set on the market a little longer than normal. Buyers are always looking for the best home and the best price for that home. With a competitive marketplace, buyers will have multiple choices along with yours. Unless you have an exceptional home, buyers will lean toward the least expensive.
For a quicker sale, the price must be lower than comparable homes in your area. Buyers look for value and all other conditions being the same, lower price will determine the home they will purchase. |
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