How should you price your house to sell?
Have you been wondering how to price your house so it will sell quickly? Perhaps you have found your dream house but need to sell your house before you can buy it.
The factor to consider before deciding on how you should price your house is "what is the perceived value of the home". Buyers and sellers determine value together. In other words value is determined by what a buyer is willing to pay as well as by what a seller is prepared to sell it for.
Before you price your house remember that consumers today are highly educated. They have access to a lot of information which they access from the internet and from their Realtor. Buyer's agents and listing agents both put together comparative market evaluations (CMA's) on homes in the area where the subject property is located.
For example: If I was working with a buyer and they had found a house they were interested in; part of my job as their advisor/consultant is to prepare a CMA. The CMA would evaluate other properties in the area that had sold or were currently for sale. We would come up with a fair market price from these evaluations which would assist my client in determining what they would offer on a home.
I have met with prospective home sellers who are adamant about what they want to sell their home for. I will share with them a CMA of their area and show them what other similar homes are either listed for or have sold for. No matter how lovely your home is, or how much you have spent on reno's the bottom line is what the perceived value of your home is. This can only be determined by comparison to other similar properties.
For additional information on how you should price your house to sell please contact me for a free Comparative market analysis.