Veterans Memorial at Webb Lake Park
If You Price it Right, They Will Come
Pricing a home correctly is the name of the game when it comes time to sell your home. This aspect of marketing appeals to the psychology of a buyer, yet may often be counterintuitive to a seller who has so much invested into their home.
It is certainly understandable to be emotionally tied to a pricing decision, but it’s usually best to step back from emotion just long enough to look at the facts within the market.
Price your home too low and you run the risk of leaving money on the table. Price it too high and buyers may assume that you are simply unreasonable.
A home’s “right price” will generally fall somewhere within a range. If the home is in top condition, it may be safe to price it at the top of the range. If not, then pricing should move further down the range.
The price a qualified buyer will pay for any given home is based on market conditions, the condition of the home itself, and the competition or available housing inventory.
We tell our clients that the market (buyers) will always speak to you, letting you know what it is willing to pay for a home. The key is to listen to what the market is telling you. Many factors such as inventory, interest rates, wages, and overall economic climate will contribute to the market’s pricing tolerance.
A seller can control the condition of their home, terms of sale, and the price. What they can’t control is the competition, market conditions, or location of the home. In order to sell a home at the best price, it is important to get the most eyes on the property as possible. The first step to making this happen is to price it at the right point within the range.
At the end of the day, the price at which a seller chooses to put their home on the market, is their decision. As licensed REALTORS®, we provide information and professional advice, so that our clients can make the most informed decisions. We are here to help you accomplish whatever you set out to accomplish.
If you need any information about home valuation or are considering any type of move related to Real Estate, you can call, text, or email us any time.