Pricing Your Home To Sell

Pricing Your Home To Sell
The home is perfect. The neighborhood is lovely. Everything seems just right. But it isn't selling. This is how many sellers learn the hard lesson of a poorly chosen list price.

Fortunately, that won't happen to you.

Why not?

Because you know the secret to pricing your home to sell. You already understand the consequences of inaccurate pricing, you know how to find the best price, and you have learned what traps to avoid.

What Can Go Wrong?

No one wants to price their home too low. It may sell quickly, but only because they've chosen to leave tens of thousands of dollars on the table. What many people don't realize is that pricing it too high can cost even more.

The longer your house sits on the market, the less it sells for.


Source: NAR

It is tempting to price your house high "just to see what happens." But overpriced homes generally don't sell right away. They sit.

They sit on the market for months, and that delay will cost you. So, how do you know that right number to list at? You lean on a pro...

Getting It Right

No one knows your home better than you. From minor fixes to major upgrades, you are a walking encyclopedia on the condition of your home. You know when the new roof was put on, how long the water heater has left, and exactly what makes the new kitchen counters more valuable. But is that enough?

Agent-assisted homes sales bring in, on average, an additional $65,000.


Source: NAR

Consider the home down the street - the one that just sold. How old was that roof? How new was that water heater? What did that kitchen look like? That home, and others like it, have set the standard for home prices in your area. Without knowing how they were priced, you would be flying blind.

A real estate professional who has that information makes all the difference. (And don't forget the extra benefit of having an experienced negotiator on your side!)

Avoiding Unreliable Information

Online home-valuation tools have gained popularity in recent years, and with good reason. They offer a quick answer to a complicated question. If all you want is a fast snapshot of your home's potential value, they can be very tempting. But are they accurate?

Consider what's missing:

  • Upgrades and Improvements
    Two identically built homes may differ significantly in price, if only one of them has had major updates or repairs. Online pricing tools do not factor in work that has been done to add to a home's value.
  • Home Condition
    A home's value is also impacted by the level of maintenance and upkeep that has been done over the years. Buyers are often unwilling to take on homes that have fallen into disrepair, unless the price reflects the work that will be required. An online tool cannot factor that in.
  • Non-Public Data
    In the US, privacy and information laws vary from state to state. Online tools are only able to pull from data that is available to the public in each state. What is known about a home in Arizona may be unknown in Florida.
  • Current Market Information
    Online pricing tools do not update with each new sale. They update in batches, based on historical information instead of current activity. They may be able to say with great accuracy what happened several months ago. They are far less accurate in reporting what is happening now - let alone what can be expected in the near future.

Your home's sale price is a major decision. You deserve to have the most up-to-date, detailed, and reliable information. What you will find in online pricing tools is incomplete at best.

Don't leave money on the table. Seek out the best information available, from a qualified and experienced real estate professional.

Bottom Line

Optimal pricing is only one reason homes sell better when a real estate professional is there to help. Better marketing, stronger negotiating, and smooth closing all come next. But setting the right price is the first step.

Call me today to arrange a no cost, no obligation consultation. We can discuss your home, its value, and its position in the current market.

 
More questions? Call me! 239.671.7279