Pricing your home correctly is the most important thing you must do if you want to sell your home fast and for top dollar.
95% of the marketing that takes place in the sale of your house is the price you set.
Some sellers tell me they want aggressive marketing. I always ask how aggressive do you want me to be? Aggressive marketing means aggressive pricing. I can be as aggressive as you want. Does that make sense?
A price that is too high will cause your home to sit on the market
and the longer it sits the more buyers will ask. “What’s wrong with it”?
A price that is too low is an obvious loss.
Fortunately, there is a method that will ensure your house will sell fast and get top dollar.
It’s simple and it starts with understanding the market. It goes like this. Look at the most recent comparable sales, in today’s market make sure the sales are within the last 3 months and in some cases within the last 1 month. A good Realtor will be able to find this information for you. Then look at the current competition in other words what is for sale.
Price your home a little above the recent sale prices
and a little below the asking prices. That way the buyers in your price range will look at your home and think, “This is a bargain”. Does that make sense?
That method usually works just fine. However in some markets prices are going straight down and the current asking prices are below the most recent sales. If this is the case in your neighborhood then you’ll have to get ahead of the curve. By that I mean that if for example the most recent sales are around $100,000 and the current asking prices are around $95,000 then you’ll need to go below the asking prices and start around $90,000. Remember, the longer a home sits on the market the lower the eventual sales price will be.
The biggest mistake I see Sellers make
is to price their home and leave room for negotiation. I often hear “They can make an offer”. The problem is they won’t even look at your home because the average Buyer looks at 11 homes before making an offer. If you have priced your home with room for negotiation you’ll have no one to negotiate with. The Buyers will look at your home and think, “They can’t be serious”, because if they really want to sell they would have priced it right to begin with.
In conclusion, if you want to sell your home fast and for top dollar you MUST price it right to begin with.
Find a good Realtor to help you and your home will sell and you’ll be glad you did.
For additional information see How To Pick A Good Realtor.
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