THE GOAL IN PRICING IS TO BEAT YOUR COMPETITION:
To sell your home quickly it’s best to price the property at its current market value.
Advantages: You tap the pent-up demand of buyers who are waiting for new home listings. Your home will compare favorably with other houses potential buyers see because yours will look better than overpriced homes in your category.
DANGERS OF OVERPRICING:
Prospective buyers who do see your house realize they can get a better deal elsewhere. If it’s your house they want, they may choose to wait until you lower the price. The right price is determined by size, condition and location , what the comparables are, and the balance of supply and demand.
STRATEGIC PRICING:
Setting the best price to list your home is part knowledge, part art. There are several aspects of the home’s value we consider when making pricing recommendations.
1. Comparison. Where does your home fit in the marketplace? It should be priced to be competitive with comparable houses in the same area.
2. Return. The listing price should be set where you net the most profit possible.
3. Target. Ideally, the price is adjusted to the top of a multiple listing category, so the home’s features compare with homes lower in price.
4. Negotiation. The price should allow some room to make needed adjustments, in order to successfully close the transactionmpare favorably with lower-priced homes.
ADDITIONAL FACTORS:
Unfortunately, what you paid for your home and what you’d like to net are not factors in determining market value. And some home improvements you’ve made may even add to the market value. Having the house orderly from day one of the listing may also increase the value of your home. But mostly, these items will help you sell your property faster, and that could mean a sale price close to your asking price.
Call us at Cytra Realty to find out more about how you can price your home to sell it quickly.
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