Pricing Your House Right

When you decide to sell your home, you of course want the highest return from its sale. Determining your "asking price" is the most important step in preparing your house for sale, and the single most important decision you will make with your Real Estate professional.

It's pretty clear that pricing your property too low won't provide you the best return. You will probably be overwhelmed with lookers and may get many offers, but you could lose thousands of dollars on your family's largest investment. Some home sellers will take the "let's try it and see what happens" approach. They may feel that they can always decrease the asking price if they are not receiving offers. But testing the market in this manner can be dangerous. A property receives its best exposure during the first three to five weeks after it is listed. After this point, many agents lose their enthusiasm as other new (and possibly better valued) listings come onto the market. Some home sellers forget that they have quite a bit of competition and that buyers are generally very well informed consumers.

Once you've achieved a realistic sales price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the lease amount of time. Don't be surprised if an offer comes very quickly, as a correctly priced home can sell very soon after it is listed

The Benefits of Pricing Right

• Your home doesn't lose its "marketability." - Today's Buyers are very well informed. They have been searching the Internet for information, as well as out looking at all of the available homes. They know the market inside out; some Buyers almost become professionals at looking for a home! They know what the comparable properties are selling for, and if a property is priced beyond what the market is indicating they will quickly label your home as overpriced.
  
  
• Your property sells faster, because it is exposed to more qualified buyers - Buyer's look for a home within a price range that they can afford. Qualified buyers who might find the home just right for their needs won't see your home, or make an offer on it, because it is out of their price range. If they are shown a home that is overpriced when it first comes on the market and do not buy because they feel it's not a good value, they're not likely to revisit the home once the price is lowered (they've already eliminated your home as a possibility).
  
  
• The closer to market value, the higher the offers - If your house is priced at fair market value Buyers will know this and not bring "lowball " offers to you.
  
  
• A well-priced property can generate competing offers - In a quickly moving market a well priced property can result in a number of people wanting to purchase your home. We have recently seen many well-priced homes sell for over the asking price because of multiple offers "bumping" up the price. If a home is overpriced it will not generate this kind of interest.
  
  
• Real Estate Professionals will be enthusiastic about presenting your property to buyers - If your home is priced correctly other Realtors will be excited about bringing their prospective Buyers to see your home. If your home becomes "overpriced" in the minds of other Realtors, they will increasingly ignore it the longer it remains on the market.
  

Tricks & Tips for Successfully Selling Your Home

Find Out What Your Home is Worth... the market is constantly changing, get an up to date evaluation.

Can You Sell Your Home Yourself... the important questions you need to ask.

Ten Steps to Selling Your Home... find out the most important steps in planning the sale of your home.

Pricing Your House Right... determining your "asking price" is the most important step in preparing your house for sale.

How Does Assessed Value Relate to the Market Value of Your Home? ... find out the difference between the two.

What is the MLS... one of the most important tools used for selling your home.

Preparing Your Home for Sale... selling your home faster and for a potentially higher price.

Documents You Will See When Selling Your Home... understanding all of the paper work.

Closing Costs... don't forget about closing costs when you are selling your home.