Selling your home? Should you price low or high: what’s at risk?

If you’ve determined that now is the right time to sell your home, congratulations!

You are entering into a ‘seller’s market’— this means that there are more buyers in the marketplace than sellers and it’s a great time to sell.  One of the most crucial keys to selling quickly with a maximum return is to establish the RIGHT price. You want to maximize your return but set a price from the start to position your home to sell in a reasonable timeframe and let you get on with your next adventure.

WHAT HAPPENS IF YOU PRICE TOO HIGH?

There are several major risks if you price your home too high.  First, your target buyer may not find your home online or see your property because the price is out of their price range.  In addition, buyers who are shopping in a higher price range will be comparing your home with others and priced too high, you will not compete, actually making the competition look like a better buy.  Homes priced just 10% high reduce the number of buyers by 30%.  The end result is that your home could sit on the market for a longer period of time which means your ownership costs continue and most importantly you can’t “move on.”

HOW CAN WE SELL YOUR HOME AT THE RIGHT PRICE?

Call me! I will do research on what the market conditions are in your neighborhood, taking into consideration your home’s features, age, location, and updates/remodeling you have done.   Then we’ll sit down and talk about your specific goals and needs, then set a price and terms of sale that fit those goals and needs.  We’ll develop a marketing plan specific for your house and price range that targets the right kind of buyers.  During the time you are FOR SALE, I’ll be sure we get input from buyers and their agents to make sure we know how they see our condition and price.  This allows us to make sure we do what we can to make your property more attractive to buyers.  All the while, we will keep aware of things happening in the local market and that might affect how your home sells.

Each home and each client has a unique story.  Whether you’re moving from a condo to a house, moving from acreage to the downtown core, I can work with you in that journey.

Posted on June 26, 2017 at 5:01 pm
Nancy Johns | Category: Selling Your Home | Tagged , , , , , , , , , , , , , , ,