Pricing Your Home

A well-priced home is crucial to generate the right buyer traffic, more exposure and competing offers. Setting the listing price right from the start will ensure a faster sale and more significant interest.

Understanding the market value based on the recent comparable sales in the area is the basis for the pricing strategy. Pricing too high – may miss out on interest while the listing is fresh; pricing too low – could result in underselling or multiple offer scenarios. Important to know which home features will drive and subtract from the value.

Market conditions affect home prices. As a seller, you want to get as much as possible for your property. In contrast, buyers want to pay as little as possible. The market condition dictates the stronger negotiating position.

• A balanced market describes demand from buyers keeping in place a supply of the properties for sale.
• The buyer’s market shows a strong property supply and weak buyer demand. Buyers tend to get better deals in this market condition.
• The seller’s market has a strong buyer demand and weak property supply. Buyers compete with other buyers for a limited supply of properties and may have to pay higher prices.

First impressions are everything, and studies have shown that the first two weeks are the most important to success when selling a house. When deciding on a price, it is imperative to remain impartial and look at the home through the buyers’ eyes. You should also review expired listings in your area to gain additional insight because why not have an advantage and learn from someone else’s mistakes?

My free, no-obligation Home Evaluation provides a detailed outlook on the market condition and will give you a proper perspective.