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When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced Realtor®. This person can provide you with an honest assessment of your home, based on several factors, including:
- market conditions
- condition of your home
- repairs or improvements
- selling timeframe
In real estate terms, market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days. If the price of your home is too high, this could cause several setbacks:
- Limiting the range of potential buyers -p otential buyers may not view your home because it appears to be out of their buying range.
- Limiting the number of showings – other salespeople may be more reluctant to view your home.
- Used as leverage – other Realtors® may use this home to drive the sale of other homes that are better-priced.
- Extended stay on the market – when a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong?” or “why hasn’t this sold?”
- Lower price – an overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price – sometimes several times. In the end, you’ll probably get less than if it had been properly priced in the first place.
- Wasted time and energy – bank appraisal is most often required to finance a home.
Realtors® have known it for years – well-kept homes that are realistically priced in the beginning always get you the fastest sale for the best price! And that’s why you need a professional to assist you in the selling of your home.
Often, in a seller’s market, homes that are priced slightly below market value initially will sell for more, simply because of the extra interest they incite. This can be a risk, however, and when it comes to such a decision, an experienced, trusted Realtor® is your best ally.
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