The Magic of Pricing Your Home Right From the Start will ensure a timely sale in 2008
February 19th, 2008 categories: Home Sellers, Prescott Real Estate Trends
Selling your home in this market takes more than the wave of a magic wand, it takes experience. Don’t make the #1 mistake that sellers make!
Pricing your home slightly below current market value can produce great results right from the start. In a market saturated with listings, many of them over priced, an appropriately priced home is what buyers and Realtors alike are waiting for. As listing agents, we love to be the third Realtor to have listed the property, after the Seller has made all of the major mistakes.
We Want More Money When The Home Sells in this Prescott market
It’s easy to get caught up in choosing a sales price. The higher the price, the more financial opportunities we have when the home sells. We can pay off all of our credit cards, take a vacation, send the kids to college, buy a more expensive home and so on. Many times, the uninformed sellers will choose the Agent who suggests the highest listing price. This is without question the worst mistake a seller can make.
In Prescott’s Real Estate market it’s imparivite to establish an accurate market value
Many sellers choose a list price based on how much they need to net when the sale is complete, unfortunately that strategy can prove to be a costly mistake. Pricing your home involves several steps. Comparing similar properties, making adjustments for the differences, tracking market movement, and evaluating the competition. As listing agents, we consider all of the facts, and suggest the most realistic price. Some sellers are concerned about setting the price of their home too low. If a home is priced too low, it will generate more activity and chances are the seller will receive multiple offers driving the price back up to the market value. In a buyers market, the danger does not lie in pricing your home too low, it is in pricing it too high. The buyers will ultimately set the price of your home. Their opinion is really the only opinion that matters.
Keep More Money in Your Pocket
How much is it costing to keep you home every month? Sellers often feel that their home is worth more that what we recommend. They couldn’t possibly list their home for $300,000 because they feel it’s worth considerably more. They make payments for an additional year and then sell it for $250,000. Not to mention the hassle of keeping the home in spotless condition while buyers and their agents are in and out of the house. Price your home right from the start, don’t be an expired listing over and over. It will only cost you money.
