How do you price your home in a shifting market? Pricing your home correctly can make or break the sale, so here are some things you want to avoid when pricing your home:
1. Don’t get caught up in the sentimental value of items in your home. Also, don’t assume that updates that you’ve done will return a dollar-for-dollar return on investment or even more. Some updates that you’ve done for your personal enjoyment may not appeal to the future buyer. It’s also very important to make sure that your home is depersonalized.
“Pricing your home correctly can make or break the sale.”
2. Don’t overprice your home and chase the market down. Having too high of a price will scare buyers away. The longer your home sits on the market, the lower the price will be because buyers will wonder what is wrong. All of the marketing in the world cannot help an overpriced home.
3. Look at comparables and do research. We also use competition-based pricing to see what homes are available that the buyers are rejecting. This is very helpful because sometimes homes that sold 30 days ago are outdated compared to what is going on in the market today.
If you’re thinking of selling your home, please contact me by phone or email. I would love to help you have a successful selling experience and not make costly pricing mistakes again.
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