Selling Your Home - Magazine - Page 20
Why Pricing Your House Right Matters
There’s no denying we’re in a sellers’ market. According to the Realtors
Confidence Index Survey from the National Association of Realtors (NAR),
50% of today’s offers are over the asking price.
While it may be tempting to price your house
on the high side to capitalize on this trend,
doing so could limit your house’s potential.
By pricing your house based on its current
condition and similar homes that have recently
sold in your area, your agent can help you set
a price that’s realistic and obtainable – and
that’s good news for you and for buyers.
A high price tag doesn’t mean you’re going to
cash in big on the sale. While you may be
trying to maximize your return, the tradeoff
may be steep. A high list price is more likely to
deter buyers, sit on the market longer, or
require a price drop that can raise questions
among prospective buyers.
When you price your house right, you increase
your home’s visibility, which drives more
buyers to your front door. The more buyers
that tour your home, the more likely you’ll have
a multi-offer scenario to create a bidding war.
When multiple buyers compete for your house,
that sets you up for a bigger win.
Instead, focus on setting a price that’s
fair. Real estate professionals know the value
of your home.
Bottom Line
When it comes to pricing your house, working with a local real estate professional is
essential. Let’s meet to discuss how you can optimize your exposure, your timeline, and
the return on your investment, too.
20