Important to Price Your Home Right

Real Estate Agent with Keller Williams Realty

Currently homes are not selling fast as we have experienced in the past, but homes that are priced right are selling.  Many of these homes are selling quickly and some are receiving multiple offers with a few selling above-listing price.  Your listing agent is the person who can give advice on where to price your property.  If priced too high this causes buyers not to tour your home and eventually forces sellers to reduce their listing price.  The first 2 weeks after listing your house attract the greatest number of buyers.  This is why it is important to get the price right.  If not priced right, you run the risk of buyers not seeing and/or touring the property.  If the price is low, you run the risk of leaving money on the table or buyers feel there is something wrong with the property.   This is not always true, because sometimes this can lead to multiply offers, therefore leading to higher sold price. Reducing price may create new interest for buyers to tour the property or create a red flag.  Some buyers may start to wonder what is wrong with the home, especially if the home has been on the market a long period of time.  The longer the home remains on the market the more problems you create.  When pricing your home, the goal is to price not too high or too low.  Pricing your home fairly improves your chances of having more buyers and the possibility of receiving multiple offers resulting in a quicker sale.  Rely on your realtor since he has the training and skills to determine the market value of your home.  Realtors use data from recently sold homes, location, current market conditions, size, and condition of property.  Finally, when selling your home, you want to get the most money you can, sell in the minimum amount of time and do it with the lease amount of hassle.

Now let’s explore the reasons why homes are not selling:

Limiting the ability to view – It is very important to allow reasonable immediate access to your home.  A miss access is equal to miss exposure.  Remember there are buyers that are from out-of-town and on a limited time schedule.  These buyers may not have the ability to adjust their schedules and are faced with limited options to view houses. 

Priced too high – Trying to maximize your profit can lead to overpricing, therefore causing potential buyers to avoid touring the property, causing the home to stay on the market for a longer period.  Today, buyers have greater access to tools to help them determine if property is overpriced.  Finally, the longer the seller has the home on the market, the less profit they will realize when it finally sells.  

Good first impression – It is always advisable to fresh up both the inside and outside of your home.  This may not add a lot of monetary value but will help your home sell faster.  You always want potential buyers to have a good first impression, otherwise they may not take a further look, but just drive away.  Be sure to remove personal clutter inside the house and freshen up the landscape before showing.  Finally, be sure the front entrance looks great including the door.   

Comments (2)

Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with prospective home sellers.

Have a productive September.

Sep 13, 2023 08:32 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Oct 11, 2023 07:18 AM