The Right Selling Price Affects Your Bottom Line
When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experiencedRealtor®. This person can provide you with an honest assessment of your home, based on several factors, including:
- Market conditions
- Condition of your home
- Repairs or improvements
- Selling timeframe
In real estate terms, market value is the price at which a particular house, in itscurrent condition, should sell within 30 to 90 days. If the price of your home is too high, this could cause several things:
- Limits buyers. Potential buyers may not view your home because it appearsto be out of their buying range.
- Limits showings. Other salespeople may be more reluctant to view yourhome.
- Used as leverage. Other Realtors® may use this home to drive the sale ofother homes that are better-priced.
- Extended stay on the market. When a home is on the market too long,it may be perceived as defective. Buyers may wonder, “what’s wrong,”or “why hasn’t this sold?”
- Lower price. An overpriced home, still on the market beyond the averageselling time, could lead to a lower selling price. To sell it, you will have toreduce the price – sometimes several times.
- In the end, you’ll probably getless than if it had been properly priced in the first place.
- Wasted time and energy. A bank appraisal is most often required to financea home.
Realtors® have known it for years – well-kept homes that are properly priced inthe beginning always get you the fastest sale for the best price! And that’s why youneed a professional to assist you in the selling of your home.
Often, in a seller’s market, homes that are priced slightly below market value initiallywill sell for more, simply because of the extra interest they incite. This can be a risk,however, and when it comes to such a decision, an experienced, trusted Realtor®is your best ally.