Pricing Your Home To Sell
For The Most Money Possible In The Shortest Time Frame
By Tracy Tkac
Evers & Co.
The single most important factor to consider when selling a house is pricing the house correctly; it’s choosing the right list price: how much your house is worth. Over pricing the house will cause it to sit on the market and lose the freshness of the home’s appeal after the first two to three weeks of showings. After a month on the market, demand and interest can wane and after that a listing can become stale to potential buyers. It is a tough concept, because no one wants to chance leaving money on the table, but pricing the home just below fair market value will often cause a seller to receive multiple offers, which will then drive up the price to market price or above. Pricing is all about supply and demand. It’s part art and part science. Beware of the realtor that advises a list price way above the range of sold home prices in your neighborhood, choosing to list with that agent may be setting you up for the delay or even failure to sell your home.
Pricing your home to sell may not be as simple as you think. Looking at what similar homes in your immediate neighborhood that have sold for in the past 6 months to a year will give you some, but not all of the data you will need to calculate the list price. It is important to compare apples to apples when looking at the comparable recently sold homes. Compare and consider not just how many bedrooms or bathrooms, but also is the basement finished, is the yard nicely landscaped, how many garage spaces are offered? Look at homes’ sizes (square feet), style, condition and if updates and renovations have been done. A good real estate professional will format all of the information for you and help you to make the comparisons to come to the right listing price that will get you the most money possible for your home sale.
Using a real estate professional can save you money in the end by helping in pricing your home to sell quickly and for the best sale price. A good agent will assess what improvements should be made prior to putting your house on the market. Many times the first step is to de-clutter; when selling your home, the less-is-more concept is the way to go. Your agent should be honest and direct in telling you what needs painting and repair or replacing before making your listing “active on the market”. You only have one chance to make a good impression, and that goes for the list price and your homes presentation.