Pricing your home is a balance between data-driven research and a creative approach. Blending those two elements together is key in crafting the ideal price that will make sure your home is given the best chance.
Remember, first impressions do matter. Setting an attractive but realistic price point, will entice potential buyers without giving them any cause for concern or disbelief. Simply put, finding a happy medium price, will send all the right messages to home shoppers in the market.
Why pricing your home is important
- Favorited on buyers list
- Creates more share-ability
- Attract bidding opportunities
- Earn top dollar
Your house will have a better chance to stand out amongst previous or current listings in your neighborhood to get you one step ahead!
Common overpricing reasons
- First price too high
- Emotional attachment
- Colleagues suggestions
- Home improvements
- Personal deadlines
- No research
The Overpricing Affect
- Don’t shoot for the moon when starting out. If you wait too long before reducing the price, chances are that people won’t be as interested anymore.
- From day one, the price will create a sense of urgency to learn more about the property. Sparking a conversation among agents and buyers about your home.
- Buyers who have scoured the market for their perfect place are eagerly anticipating their dream home. Homes that are priced right typically don’t stay on the market for long.
- No matter how nice the home is, potential buyers won’t even give it a chance if the price is not within their budget.
- Mis-pricing can be a potential pitfall; from appraisal-related issues or loan rejections. Protect yourself by ensuring a proper appraisal evaluation is done correctly.
- ultimately, potential homebuyers may be harder to come by if the price isn’t within the current market reason.
Our home selling guidance
- Real estate is not a one-price-fits all value
- The home value is up to the market. Together, we make sure it comes at a price that works for everyone
- We help you understand the competitive landscape of your local real estate market, offering a detailed comparative market analysis (CMA). This provides insights into home prices by comparing recently sold properties, currently active listings and similar homes in location, style, and amenities
- Estimate home net equity
- Recommend offer strategies
- Certain factors that determine your home based price
- Home condition
- Media content
- Alternative financing strategies
Agents can work hard to achieve the best returns, but it’s ultimately up to the market. Choose your agent based on strategy, not just price point!