Pricing Your Home to Sell

Pricing Your Home to Sell

Pricing your home to sell is a critical decision!


Selling your home can be extremely stressful.  Trying to decide on the right listing price will require good reasoning and proper evaluation of many factors.  The right selling price is determined by many factors including: the current supply and demand for homes on the market, the economy, your home's location, houses recently sold in area, area listings, the condition of your home, its square footage, and the time frame you are targeting.

Things that you think are valuable may not be to the potential buyers.  On the other hand, if your home has features that are currently popular and sought after, you'll have more interested buyers. Those high-demand features may actually add value to your home and help sell it. 

A Good realtor  knows the market and will help find buyers who are looking for exactly what your home is offering.  A top agent knows how to find the potential buyers that are more likely to make an offer on your home and negotiate the best price.  Many say their biggest regret is not pricing their home correctly when they first listed it. They wished they would have taken the realtor's advice, saying they ended up at the price they should have started at and could have sold their home earlier.

Get quick and easy staging tips - Pricing Right and Staging made easy.

Read buyers want your home for Less.  


Some helpful tips for pricing your home to sell:

Pricing your House to Sell
by: Bonny Puckett

Pricing Your House Right
by: E. Weintraub

What's My House Worth?

 

 

  Pricing your home correctly is the quickest way to sell your home and move onto better things. Choosing an agent who has experience, a proven record and is at the top of their field is affordable.  On average, most agents charge the same. This may be the only time that getting One of the Best in N.W. Ohio to work for you,  it won't cost more. Putting your most valuable asset in the hands of the best is what Einstein would say being smart is all about. You would only choose a specialist to do heart surgery.  Several factors make a realtor a specialist, including experience,  education, and proven sales results that only Top Agents possess.

 


Understanding the real estate market:
 

1. If your house is not being shown, it means potential buyers think the price is too high for the neighborhood. 
2.  If your house is being shown, but you are not getting any offers, it means the buyers are finding nicer homes for the money.
3.  When you house is in the running, but the buyers purchase something else, it means your pricing is close.
4.  When the buyers book a second viewing, but still purchase something else, this means you are right on target.  Evaluating their feed-backs will be key at that point.
5.  According to the National Association of Realtors, if your house is priced correctly, you should get one offer for every ten showings!

 


Pricing your home in a rising or falling market:
 

A.  Overpricing in a rising market may be OK.
B.  Overpricing in a falling market is disastrous.
C.  Market trend is as important as pricing.  Make sure your agent understands the market.

The benefits of proper pricing:

A.  A faster sale which will save carrying costs.
B.  Less inconvenience.
C.  Exposure to more prospects.
D.  A better response from advertising and sales calls.
E.  Attracting higher offers.
F.  A higher return on their investment for the seller.


Reasons for overpricing:

A.  Over improvement - buyers don't expect to pay the seller's total costs of improvements in a falling market.
B.  The need for money does not increase the value of a home.
C.  The home's prior purchase price was higher than market will offer at the time of its resale.
D.  There is an impending corporate buy-out, this does not increase the value.

 

Real Estate Quotes and Notes:

* Homes sell at a price buyers are willing to pay. 

* Real Estate is one of the only businesses where you can hire the best representative at the same price. Victoria (Luhring) Valle has been a top agent year after year both locally and nationally.

* "When you hire people smarter than you are, it proves that you are smarter than they are" Henry Ford

* "The best investment on earth is earth"  Glickman

* "90% of all millionaires became so by owning real estate."  Andrew Carnegie

* " It's tangible, it's solid , it's beautiful, I love real estate." Donald Trump

* "Don't let what you cannot do interfere with what you can do."  John Woodman

* "70% of buyers search on the Internet.  You need an agent who has the knowledge
   and experience to reach  those Internet home searchers,  See your home. . 

* Victoria (Luhring) Valle has received awards from Danberry Realty and Realtor.com (#1 Real Estate Website) for her advanced websites and Internet success.

* Get Inspired with Inspirtional Good Quotes- Find one that works for you.

 

The role of the realtor in pricing:

There is no "exact price" for real estate.  The market determines value... together we determine the best price point.  I'll bring the market... the market brings the price.  By showing you a range of prices being paid for home in the area, you can find the best price range.  And you determine the price based on factors you control:


    * Market Time    * Financing Alternatives Provided   * Condition   * Exposure Methods


Never select a Realtor based on Price!

Problems can arise from overpricing:

Once you've decided on a price and listed your home, you will have a better idea if you've priced correctly.  Here are some signs that you've overpriced your home: a lack of showings, minimal MLS participation, buyers who are reluctant to make offers, other homes in your price range are selling, appraisal problems, and a reduced response to advertising.  If your property is competing with properties in another price range, your selling goals will be delayed and you'll see that your property gets "market worn" and doesn't sell.  This is why evaluating the right listing price is so crucial to quickly achieving a successful sale!

Think about pricing this way:

If there are four gas stations located at the same intersection, which one would sell the most gas?
       *Station A   $3.66         *Station B   $3.76       *Station C   $3.89            *Station D   $3.94
Obviously, Gas Station A will sell more than the others because they are offering the exact item for a better price. 

Your home may not be right next to the competing homes for sale like one of four gas stations at the same intersection, but potential buyers will be viewing neighboring homes in the same price point.  Your home has to have more to offer, it has to outshine the others, or it has to have a lower price to attract a potential buyer's eye. 
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Contact Information

Photo of Victoria's Luxury Home Team Real Estate
Victoria's Luxury Home Team
The Danberry Co. Realtors
3555 Briarfield
Maumee OH 43537
Cell : 419-460-5587