Finding Balance In Your Home’s Price
This one common seller mistake can cost you thousands of dollars.
Data from the National Association of Realtors shows that 46% of homes are selling above asking price. However, even in a market like ours, working with an agent to set the right list price is critical. Pricing your home too high or too low could have a negative impact on your final sale.
The price you set for your house sends a message to potential buyers. If you price it too low, you might inadvertently raise questions about your home’s condition or lead buyers to assume something is wrong with it. Plus, you could be leaving money on the table, which decreases your future buying power.
On the other hand, if you price your home too high, you run the risk of deterring buyers. When that happens, you may have to resort to a price drop to reignite interest when your house sits on the market for a while. Price drops are red flags to some buyers, who will wonder why the price was reduced and what that means about the home.
"Several factors go into pricing your house, and balancing them is key."
Think of pricing your home as a target. Your goal is to aim directly for the center—not too high or too low. Pricing your house fairly will attract more buyers. You're more likely to generate a bidding war, which can help you get an even higher final sale price. On top of that, when homes are priced right, they tend to sell quickly.
Several factors go into pricing your house, and balancing them is key. That’s why it’s important to lean on an expert real estate advisor. When you’re ready to move, find a local expert who is knowledgeable about the values of homes in your area, the current demand for houses, and how your property’s condition will affect its ultimate value. As your real estate professional, I will balance all these factors to make sure that the price of your house gives buyers the best first impression possible.
Don’t rely on guesswork! If you need assistance in pricing your home just right for the market or you have any questions, don’t hesitate to call or email me. I’d love to help you.