Determining the RIGHT price for your home is one of the most critical aspects of marketing. It's true! A home that looks great and is priced along with other similar homes will be perceived as a good value, which equals more interested buyers. I 100% believe in asking for what your home is worth, but there's a strategic reason NOT to start off too high.
The longer a home is on the market, usually the lower the final sales price. Reducing the price doesn't typically result in more buyer interest; in fact, it can make buyers wonder why the price needed to be reduced. I'll help you set the perfect price and position your property so it stands out in the market. Here is my approach to Profitable Pricing:
- Analyze the market and see what other comparable properties are selling for.
- Get clear on YOUR selling goals (based on how much you owe, your new home, budget, etc)
- Turn you home into an offer magnet via home prep and staging.
- Create a custom home marketing plan for your property.
- Market your property to potential buyers AND other agents to get their feedback on price.
-Keep you informed about traffic and buyer activity.
MLS statistics show that the longer a home is on the market, the lower the sales price. As your guide, my job is to help you find that sweet-spot right price from the start and to position your property so it stands out in the market.
Believe it or not, their are DANGERS of overpricing a home:
- Your target buyers may not see your property because the list prices is out of their price range.
- Buyers in the higher price point may compare your property to other properties at that price point and consider it a bad value.
- Your home may sit on the market longer and sell for less than asking price...meanwhile you're still paying mortgage, utilities, etc. (Also problematic if you have purchased another property!)
- The number of interested buyers goes down the longer the property sits on the market.
If you are in the market to sell your home, interview me, I'll take you to coffee or meet with you virtually. For more on everything you need to know when selling a home download my comprehensive seller guide in the link below.