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The Right Selling Price Affects Your Bottom Line
When you're selling your home, the price you set is a critical factor in the return you'll receive. That's why you need a professional
evaluation from an experienced Realtor. This person can provide you with an honest assessment of your home, based on several factors, including:
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Market conditions |
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Condition of your home |
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Repairs or improvements |
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Selling timeframe |
In real estate terms, market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days.
If the price of your home is too high, this could cause several things:
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Limits buyers. Potential buyers may not view your home because it appears to be out of their buying range. |
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Limits showings. Other salespeople may be more reluctant to view your home. |
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Used as leverage. Other Realtors may use this home to drive the sale of other homes that are better-priced. |
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Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder,
"what's wrong," or "why hasn't this sold?" |
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Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price.
To sell it, you will have to reduce the price - sometimes several times. In the end, you'll probably get less than if it had been properly
priced in the first place. |
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Wasted time and energy. A bank appraisal is most often required to finance a home. |
Realtors have known it for years - well-kept homes that are properly priced in the beginning always get you the fastest sale for the best price!
And that's why you need a professional to assist you in the selling of your home.
Often, in a seller's market, homes that are priced slightly below market value initially will sell for more, simply because of the extra interest
they incite. This can be a risk, however, and when it comes to such a decision, an experienced, trusted Realtor is your best ally.
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