I know we all want to get the most money from the sale of a home. The initial feeling from most home owners is, “Let’s set the price high and then we can negotiate down”. Contrary to our gut reaction, that usually doesn’t produce the results you’re looking for.
Experienced realtors know that pricing a home appropriately from the start is critical in getting it sold quickly and at the best price. The National Association of Realtor research shows that overpricing your home and then dropping the price several times while it languishes on the market usually leads to selling at a much lower price than what you originally would have asked for it. The reality is the longer a home is on the market, the deeper the discount is likely to be off the original price.
Choose a Real Estate Agent who will:
- Conduct a comparative market analysis which includes:
- The sales prices for similar nearby homes recently sold and/or listed.
- Homes discontinued from listings because they didn’t sell and asking why they didn’t sell. And determining the length of time they were on the market.
- The Average difference between the list prices and sale prices on homes that have sold.
Once your home is priced to sell, turn your attention to getting it ready for buyers. I’ll write more on that on my next blog.