Let’s talk about Price, Baby

Pricing your home correctly is essential to a quick sale, especially in a challenging market like this one. The seller sets the price, with guidance from their REALTOR®. I can help, but the final decision is up to you, and sometimes people don’t follow my advice.

So, how do you price your home correctly so it will sell? It’s not rocket science, but there are some tricks to it.

The price of your home is NOT determined by:

  • How much you owe
  • How much you put into it
  • How much the home you want to move into costs
  • What it appraised for
  • What you heard your neighbor’s house sold for
  • How much it is insured for

The price of your home depends on what a ready, willing and able buyer is going to pay and what you (as a ready, willing and able seller) are going to accept. Based on:

  • Today’s market
  • Today’s competition
  • Financing options available
  • Economic conditions
  • The buyer’s perception of the condition of the property
  • Location
  • Your area’s normal marketing time

The question is, how do we figure that out? Since I haven’t yet perfected my crystal ball technology, all we can rely on is the Comps.

I use properties that are similar to yours in size, location, condition and amenities to see what your house should sell for. It is important to look at homes that have recently sold, as well as homes that are currently on the market (your competition), homes that didn’t sell (why?), and homes that are under contract.

Although this market is certainly a new challenge for sellers, there are homes that are selling. The homes that are selling in today’s market need to be a “Perfect 10”. Your home can be a “10” :

  • By improving the condition of the home
  • By offering favorable terms
  • By staging the home
  • By improving curb appeal
  • With price adjustments

 If you would like me to sit down with you and go through these points with you regarding your home, I would be happy to do that with no cost or obligation to you. Just call, I am ready to answer your questions.

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