Pricing Your Home Correctly To Sell Quickly
Pricing your home correctly is critical to selling your home quickly for more money. Pricing too high or too low can have negative effects on a buyer's interest and ultimately your bottom line. There are more than just one or two factors that determine the correct asking price.
We at The Becker Group, know the marketplace intimately and have successfully priced many homes that have sold quickly and for more money than similar homes have sold for in the area. We can provide you with a computerized printout of what homes similar to yours have sold and are selling for. Together, we can establish the correct asking price.
- Take note of what’s going on in your neighborhood. While no two homes are exactly the same, you can get a fair assessment by checking into homes that have sold and have characteristics, such as number of bedrooms/baths or square footage, that are similar to your home. Active listings are not necessarily a gauge since they have not yet sold, but if it’s been on the market for awhile, it’s most likely priced too high.
- Not in a hurry? Pricing your home too high because you can “wait and see” is not a good idea. Studies have shown that the first two weeks on the market are the most crucial to your success. You only have one chance to grab attention.
- Take a step back. Look at your home as a potential buyer would… What is the condition of your home? Did you decorate when you moved in 20 years ago and nothing’s changed? Have you made upgrades? Fresh paint? Clean carpets? Talk to your agent about current buyer trends. Your price should reflect how your home compares to the others on the market. No home is perfect, but the right price can add to the appeal.
- Be willing to “wiggle”. If your price is too high, prospective buyers will quickly move on. Don’t let what you have invested in your home dictate it’s value. Since the first 2 weeks are the most important, if you haven’t have any showings or interest, you might need to adjust your price.