Selling a house can be stressful. Making the decision, preparing the house for sale, keeping it clean, waiting for a buyer, dealing with offers, and advancing to the closing table – all of these steps can involve discomfort. This is a huge financial transaction with many emotional aspects. But you can get it done – and it may even be easier than you anticipate. One thing to keep in mind is that you’re not alone. An experienced, professional real estate agent can guide you through the process, help resolve any issues that come up, and ensure that your home sells for the optimal price in a timely manner.
Home Seller Mistake No. 1: Pricing Too High
“I can always lower the price later if I don’t get any offers.”
That statement costs home sellers millions of dollars every year.
Yes, you can always lower your asking price, but that’s not a good strategy. Time and time again, experience shows that sellers who list competitively from the start get a better price than sellers who list high and then go lower and lower.
When you price too high, here’s what buyers think:
“Wow, three price cuts in the last four months… There must be something wrong with that house.”
“With all the price cuts on this house, the sellers must be desperate. Let’s offer them far below what they’re asking and see if they bite.”
Sound Pricing Strategies
A far smarter approach is to find a knowledgeable agent who understands the local market and then work together on setting the right price. A good agent can help you avoid the overpricing trap.
An experienced agent will help set the right price for your home by considering the following:
Similar homes, via a Comparative Market Analysis (CMA): Your agent will provide a professional analysis that goes deep into stats about recent sales and current listings similar to your home in size, age, condition and features. Sales within the past six months are especially relevant.
General market conditions: Is it a seller’s market or a buyer’s market in your community? It’s important to note that what’s happening nationally may not reflect local conditions. Your agent can explain the difference and clear up any misconceptions you may have.
Find a local RE/MAX AllPro agent who can tell you all about helping you meet your real estate goals.