You’ve decided to take that big step and put your home up for sale. Maybe you are relocating for work, upsizing or downsizing, or maybe you are selling a home of a loved one who can no longer live in the home. Regardless of your reason for selling your home, setting the list price is the second most important part of selling your home (behind hiring a CENTURY 21 agent). Here are the three top reasons why list price is so important.
Reason #1: An Overpriced Home Scares off Buyers
The first few days are the most important for any new listing and it is extremely important that the list price isn’t so high that it scares off potential buyers. Many sellers want to employ a strategy of list high and let the buyers come in with their lower offers. This strategy may seem wise at first, however it can work against you. It is better to price your home fairly from the very beginning and simply refuse offers that you do not feel are fair for your home.
Reason #2: Properly Priced Homes Sell Faster!
Do you want your home to sell quickly or do you want it to sit on the market for a long time? Setting the right list price is key to getting your home to sell in the fast amount of time possible and at the best price for your home. Buyers are smart and will view other homes that are similar to your home and if your home is priced property, it will be a contender in their final list. If it is over priced, then it is likely to be taken off the list of potential homes.
Reason #3: Don’t Leave Money on the Table
We’ve already discussed how pricing your home too high can scare off buyers. Sometimes, sellers underprice their home thinking it will drive multiple offers and ultimately increase the final sale price. While this can be effective to a certain degree, market conditions play a huge role in whether or not it will work. Quite often, a seller will end of leaving equity on the table that they could have gotten from the sale.
Remember – when selling a home, it is important that you hire a licensed real estate agent that can help you navigate the sales process. Beyond setting the right price for your home, there are many other items that can impact how much you are able to sell your home for and how fast it sells. A real estate agent familiar with your market can help to guide you and if they are good enough, they will cover their commission in the additional sales price you are able to get by using a REALTOR®.
You can always get a FREE, instant online valuation of your home from your friends at CENTURY 21 Roo Realty by clicking here. You can also reach out to my team and I directly at 321-250-5222 or by visiting our website.
Additional Resources for Home Sellers