The Proper Pricing of Your Home

    Statements from sellers that really have nothing to do with a home’s value

    • Another agent said it was worth more
    • People always offer less than asking price
    • The buyers can always make an offer

     

    Other factors that do not affect a home’s value

    • The original purchase price
    • Over improvement (enjoyment)
    • The cost to rebuild in the current market
    • Personal attachment to the property
    • The owners need for equity

     

    Dangers of overpricing your home

    • Discourages qualified buyers
    • Better positions competitive homes
    • Reduces advertising response
    • Impacts appraisal valuations
    • Creates doubt & uncertainty
    • Attracts owner financing & bargain hunters
    • Results in your home becoming stale on the market

     

    A proactive pricing strategy

    • Overall objective is to sell your home
    • The market is the common adversary (Supply & Demand)
    • Past sales are not always indicative of current performance
    • Proper pricing should yield one offer for every 10 showings*
    • We must integrate pricing with a balanced marketing plan
    • Factors affecting the sale: Location, Condition, Price, Terms, Realtor

     

    Some thoughts on the condition that affect price

    • Think like a buyer
    • Start making a list
    • Complete repairs before putting your home on the market