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Pricing your house to SELL!

The #1 reason houses don’t sell is usually due to the original list price being too high! It is so important to have your home priced right from day 1. When you are ready to sell your house, find a Realtor who specializes in listing properties. Ask him/her about their successful sales- how many homes have they sold in the past 12 months, how long was each property actively on the market, how much did the house sell for compared to the list price, how many price reductions were made? The best and most knowledgeable Realtors will give you honest feedback about your home, the most accurate selling price range and what you should list your house for to be within that range. Listen to them, even if they are not the numbers you want to hear, they study the market daily and have an inside look at what buyers want and what buyers are willing to pay!
Here are some key points to keep in mind when pricing your house…
1. Do not confuse active listing prices with sold listing prices!
Active listings are your competition, so it’s good to know what they are priced at, but it’s just an ASKING price…it does not indicate what their houses (or your house) will sell for.
2. Instead, pay close attention to comparable sold listings!
This is the indicator of what buyers are willing to pay for your house …and what your house will appraise for. This is where your house needs to be priced to attract interested and serious buyers!
3. Price it right from the beginning!
You only have one chance to make a good first impression, so don’t waste it! Although it may be tempting, don’t price your house a little higher (and plan to reduce it later if there are no offers) just to see if there may be a buyer willing to pay that price. If you are overpriced, you will not get the attention of buyers or their real estate agents! In fact, you will most likely be helping your competition sell their homes! The 1st month that your house is listed is the most important- it’s still new! Once you have to reduce and it’s been on for longer than a month or 2, with no offers, it is now an “old” listing! Unfortunately, there will not be as many showings at this point in time. Fewer showings mean fewer interested buyers, which mean fewer offers! Now another price reduction will mostly have to happen.
4. Look at and consider all offers!
Sit with your real estate agent to consider all offers! Obviously, you don’t want to accept an offer that is so low that it will cost you money, but look at all factors and decide what you will accept. Negotiate with serious buyers to make the sale happen smoothly! In the end, both parties want to feel as though they got the best and most fair price.
5. Be realistic and trust your real estate agent!
Some things that you love about your house are wonderful features, but may not always warrant a higher list price. Your agent needs to take into account what the current buyer trends are and will suggest the best list price to get your house sold for the most money and as quickly as possible…which is exactly what sellers ultimately want!