How To Price Your Home
One of the most difficult aspects of selling a home is determining the selling price. Especially in this market there are a number of considerations that need to be reviewed.
Accurate Pricing Strategy
The pricing strategy that you choose to employ relies heavily on what the current market is like. In a buyer’s market, there are more homes available than there are buyers. This would cause home prices to be lower. In a seller’s market, there are more buyers than there are homes available. This causes home prices to rise. It’s supply and demand.
Once the house is on the market, a well priced home will sell. If a house is overpriced the majority of offers will be low offers that may not be considered, when in actuality, the low offers could be more accurate than the inflated price. A well-priced home will entice people to offer what the home is worth as they can see that the value represented in the price is accurate.
Pricing a home accurately maximizes your opportunity to reach the most potential buyers. Often, when qualified buyers are looking for a home the first thing they evaluate is the price. Before they consider any aspects of a home, they want to know how much they have to spend. When your home is marketed at a price that is similar to other comparable properties in the buyers price range, they will have the opportunity to view it.
Targeting the Right Buyer
A home receives it’s best exposure during it’s first several weeks on the market. Statistically, the longer a home spends on the market the lower the selling price. People will see that it’s been on the market for awhile and may start to assume there is something wrong with it, when in reality it’s the price that has kept it on the market so long. If your price is too low, you could lose thousands of dollars of one of the largest investments in our lifetime.
Let Your Agent Help You Price Your Home
With many years of experience a good agent will be able to accurately price your home and make sure the price represents the value. If you need help pricing your home, please don’t hesitate to contact us.
Subscribe by RSS