An old friend of mine, who spent years in retail, told me once that you could sell just about anything as long as you find the “magic number,” the correct price that preserves your bottom line but entices people to want to purchase what you’re selling. Too low, and you’re cheating yourself (as well as creating the misconception that what you’re selling isn’t worth much in and of itself); too high, and you run the risk of alienating someone who might otherwise have bought from you. Real Estate does share at least one thing in common with retail: miss that “magic number,” and you’re likely to miss the sale.
Let me give you an example. Let’s assume for a moment that you’re looking for a Pez dispenser to round out your collection. If you visit eBay and see someone charging $95,000 for a Pez dispenser – even if it’s unique, and it’s a Pez dispenser you really, really wanted – you’re likely to say the heck with it and look elsewhere.
Why would you, or anyone else, do any differently for a home?
Remember when you bought your home? Think back to all the research that went into that decision. You compared neighborhoods, schools, commute times, and property taxes, and that was before you even started comparing the houses themselves. Now – whether it’s a few decades, or even just a few short years, later – the person who might be looking to buy your home certainly isn’t going to put any less thought and research into their purchase than you did. They’ve done their homework, and may even have tools at their disposal now that you didn’t back then. This means that they’ve not only compared all the criteria we’ve discussed earlier, they’ve also got a good idea of what your home is worth relative to the rest of what’s on the market. And if, like the expensive Pez dispenser we talked about earlier, your home is priced beyond what the market will bear, people will look elsewhere. Forget anything and everything you’ve heard about the market; there are still other options, and people will take them before they’ll pay too much for a home.
I know that it’s a difficult decision to sell your home, and it’s harder still to be objective about the process. Our homes aren’t generally just a place that we spend the night; they’re places in which we build memories and families, and to which we have a strong emotional attachment. To us, they’re pretty close to priceless. And that makes it all the more difficult when you have to take a cold, objective look at the reality on the ground in order to set the right price… that magic number at which your home will sell. One of my jobs (among many) is to help you do just that. Call me today at 201-930-8820 x212, and I can help you set a price for your home that’s fair to everyone involved.