Pricing Your Home Correctly Can Make a Big Difference

The importance of pricing your home correctly in today’s market. 

Today, I'm here to talk about the importance of pricing a home accurately with its Goldilocks price. If you’re thinking about selling your home anytime soon, this is information you should know.

Whenever I meet a client who wants to sell, I will initially look at a broad view of comparable homes in terms of location, size, age of the home, etc. Then I visit the home and learn specifics about upgrades, improvements, and anything else that could affect pricing. After that, I go through the comparable home list again to price the home as accurately as possible.

"If you list your home at a fair market value, you should attract the right number of buyers."

One thing that I tell every seller is that I always speak in ranges. For example, I could say that a home needs to be priced between $700,000 and $750,000. Then we can narrow down an exact price from there. This can be done just a couple of days before listing to make sure we have the most current data.

There are homes that are priced too high, too low, or just right, and that last one is where you want to be. If your price is too high, you run the risk of attracting fewer buyers, which can potentially leave your home on the market too long, just to be chasing after that one buyer who now feels they have extra negotiating power and will likely lowball their offer. Also, people in the marketplace will view the home as stale and wonder what's wrong with it. Lastly, this could affect a buyer's opportunity to obtain financing since the home may not appraise at the same price.

If you price your home too low, you might get a lot of interested buyers, but you may be disappointed with the outcome of how much you’re selling for. Remember, as a seller you get to choose the listing price, but the buyer chooses the selling price. If you list your home at a fair market value, you should attract the right number of buyers, still have the potential to sell in a multiple-offer scenario, and have a 95% chance of selling.

My goal is to help you sell your home for the highest price, in the shortest time possible, and with the most favorable terms. If that’s something you’re interested in, call or email me. Also, don't hesitate to reach out for your personalized listing consultation. I look forward to hearing from you soon.

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