It happens too often.
A homeowner prices their home too high puts it on the market, and it sits for days without a bite.
More than ever, pricing your home right will make or break a sale due to the rise of affordability issues and the sheer lack of buyers.
Selling a house is not just costly, but stressful. You have to keep it clean, mow the lawn, pay for electricity and sometimes heat or air conditioning so a real estate agent can show it.
Plus, the longer it is on the market, the more likely the market is to drop. Then you have to drop your house’s price even more.
The sooner you can sell your home, the more profit you’re likely to gain. Pricing your home right the first time is a must!
You’re in luck. We’ve provided a guide to help you competitively price your home, so it will sell — and fast!
How Much Should I Sell My House For?
In order to find the best listing price for your home, you need to do a little digging.
Research to see not just what other places in your area are listed at, but also what they sold at. This will be an indication of what is a reasonable price to start with, otherwise, your home may be on the market for a long time.
Even if you have the time to sell, there’s no reason to price it higher than what homes in your area are selling at. You could potentially lose money no matter how long you’re willing to wait.
More than likely the market will drop by the time you sell it. Then you will be forced to drop the price even lower.
Find the Right Listing Agent
If it sounds like an agent’s promise is too good to be true, it probably is. If an agent promises to sell your home at a much higher price than other listing agents, be careful. They may not be giving you a realistic value of your home.
Instead of just going with the agent that offers the highest price, interview at least three agents. Then choose the one that can back up their suggested listing price with actual sales data.
Otherwise, you may end up having to drop the price of your home after listing it on the market for months.
It’s so important to price your home correctly when it first enters the market. This is because if it’s too expensive, buyers who first see the home will likely find another option by the time you lower the price.
If you drop the price too late, interested buyers will see that it has been on the market for a long time. They might wonder if there is something wrong with the house.
Pricing Home – Don’t Bring Your Emotions
It may be difficult to accept a lower asking price for your home simply because of the emotional value it has to you. But in this case, you need to set your emotions aside.
If your listing agent isn’t getting any calls about your home, they will need to drop the price right away. Don’t let your personal feelings about your home get in the way. It’ll be best for everyone if you let pricing your home come down to the facts and not an emotional response.
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