How To Price Your Home To Sell
How To Price Your Home To Sell.
Here are 4 tips.
YOU MUST … price your home correctly and competitively from the beginning of your listing.
THIS is the crucial step to selling your home quickly and getting the best possible price.
CLICK to watch this 3 minute video
learn everything you need to know.
After you watched the video, take your time and read the video transcript below
YOU MUST price your home correctly and competitively from the beginning of your listing.
THIS is the crucial step to selling your home quickly and getting the best possible price.
#1.DO NOT OVER PRICE.
You can see what happens when you overprice vs pricing correctly. Correct pricing will get the most showings and then offers to buy. As overpricing increases you get a decreased number of showings and no offers.
The temptation for many sellers is to overprice their home to start and THEN decrease the price if it doesn’t sell. Unfortunately, this strategy IS INCORRECT.
By the time the Seller realizes their price is too high they have lost the most valuable time to sell their home. This chart shows how the number of showings falls off as the time on the market increases. The best chance you have to sell your house is during the first 6 weeks after listing. This is your “golden window of opportunity.”
Continually lowering the price will actually turn off potential buyers who start to wonder what is wrong with your home. Your home becomes Stigmatized.
#2 You MUST use hard data to set your asking price.
You need to Evaluate the price of all Comparable
• Sold homes,
• The currently listed homes,
• Even those that have failed to sell,
An additional factor is the current housing market status. For example: Las Cruces is currently in a strong seller’s market, where demand from buyers outpaces the number of homes for sale. You may be able to price your home slightly higher than market value and still be attractive to Buyers.
#3 Don’t assume renovations, repairs, and home improvements
will result in a dollar-for-dollar increase in the selling price.
That’s not to say that they aren’t worth it.
BUT REALISTICALLY even those upgrades which are important generally only return a percentage of their actual cost. Charts of exactly which repairs are the most cost effective are available on the internet.
#4 Keep your head in the game.
You must be willing to Adjust the Price When Needed.
The ultimate price test is how buyers react. The way to tell if you’ve priced too high is if you are getting few showings and no offers. If your competition is selling, and you are not, you are probably overpriced. At that point you must be realistic and adjust your price.
If you are considering selling your home, the thing that you most want to know is: “How much would it sell for in today’s Market.”
© 2021 Bruder Real Estate. All rights reserved.