Pricing Your Home
Pricing your home is both an art and a science. Achieving the optimal price is the result of an objective research into comparable properties That means we will get out and see those comparable homes if we haven't seen them already. But it is alos a knowledge about the current market.
The price of your home is influenced by:
- Local market
The right price should:
- Attract buyers
- Allow you to earn the most money possible
- Help you sell as quickly as possible
The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it's important to remember that, although the price is set by you, the value of the home is determined by the buyer. Overpricing is a common mistake that can cost you in the end.
The Importance of Proper Pricing
- Faster sale and less inconvenience
- Exposure to more buyers
- Generates more exposure and traffic for your home
- Attracts higher offers
- Means more money to seller
- Avoids being "shopworn"
What really matters is how your home stacks up against the others currently offered for sale and recently sold in your area. Buyers will be comparing.
- Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.
- Buyers who have seen most available homes in their price range are waiting for the "right house" to come on the market. That's why if a house is priced right, it will sell quickly. The buyers are there waiting for it.
- Don't start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have already waned.
The Role of a Real Estate Agent in Pricing
- Provide you with a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMAis performed by comparing previously sold homes in the area, and currently active homes to know your competition.
- Provide you with knowledge of the local market.
- Keep in touch with market trends and keep up to date with market activity of comparable homes.
- Estimate your net proceeds.
An agent has NO control over the market, only the marketing plan. Never select an agent based on price. We want to work with you to sell your home. We are confident that our marketing strategy will work for you.