Have your showing requests been few and far between? It could be that your home is priced too high. Homes that are priced right sell quick and close to asking price, maybe even over asking in a seller’s market. That’s what you want, correct? But how do you come up with the right price for your WNY home?
You should first find your Magic Number, the absolute lowest amount you can afford to sell your home for. After all, you need funds to buy your new home. I suggest using a Sellers Net Sheet and working from the bottom up. Enter what you must make from the sale of your home and work your way up to your minimum sale price.
Find out how much profit you'll gain with the sale of your house.
After you know what you need to sell it for, you should see how it stacks up to recent sales in the area. If you want to invest, you can hire a professional appraiser to find the true, legal value of your home. For free, your Realtor® can provide you with a Comparative Market Analysis
(CMA). This report compares homes that have sold that are “like” yours (bed, bath, sq ft, style), within about a mile of your location and have been sold in the past 6 months. It will provide you with an average price as well as a high/low range. A buyer’s agent does this same process when they help a home buyer place an offer on house. If the two match… you may have a quick sale.
Finding that "right price" will determine if your home is in the market or actually on the market. Homes that are in the market are simply there. Here's a house, this is what it's priced at, someone please buy it. Homes that are on the market have been properly prepped for sale (advertising/staging) and offer a competitive price. This of it as making an offer to buyers that they can't refuse.
If you need help finding the right price for your home, let me know!