Pricing a home correctly is a very important factor when selling. Here are some guidelines to follow when strategizing the asking price:
A properly priced home will draw in more interested buyers to compete for your property. Overpriced homes are ignored by buyers who have done their research on current home values.
You save loss of time and money. Overpriced homes sit on the market. Sometimes buyers wonder why the home has been available for a long period of time. This can place you, the seller, into a poor negotiating position.
Even if you say, “I have plenty of time to sell. I can always reduce my price later,” this strategy will not work in your favor. One of the first questions buyers ask is, “How long has this home been on the market?” A buyer may feel he/she has an upper hand in making a lower offer since the home has not sold.
There may be appraisal issues. Even if you find a buyer who will pay an unreasonably high asking price, the lender may not want to provide financing if the home does not appraise correctly.
The key to selling your home is pricing it correctly. Listing a home for market value will more times than not, get you more money in a shorter amount of time. Your Sibcy Cline agent will take many factors into consideration for pricing your home, including:
- Size, including the number of bedrooms and baths
- Condition (especially the kitchen)
- Style of home
- Exterior features (age of roof and windows, patio, deck)
Your agent will perform a Comparative Market Analysis for your home. This analysis will look at homes similar to yours that have sold within the past 6-12 months as well as look at pending sales and current homes on the market.
Once the data is analyzed by you and your agent, you can then figure out what the listed asking price for your home will be.
Article courtesy of Sibcy Cline News