How sellers prepare to sell their home really does make a big difference in terms of what they net on the sale. Here are a few tips to maximize their overall return.
Over-pricing a home is a great way to ultimately lose money on the sale. Over-pricing results in longer days on market and fails to put the home in front of the largest population of buyers looking in one’s ultimate specific price range.
According to research done by our IRES Multi Listing Service, over-pricing results in a final lower price than if the property were priced at market value originally. Fair market value is what willing sellers and buyers agree to in a contract. This price is normally close to the pricing of comparable homes sold in the previous 6 months. If you over-price by 15%, only 10% of potential eligible buyers will actually see it as they search for a property.
Pricing a home for sale is as much art as science, but there are a few truisms that never change regarding a fair market value which attracts buyers:
- The first two weeks of marketing are crucial.
- A wide range of things can impact values, but the two most important ones are location and condition of the home.
- Taking the emotion out of the pricing of a home is critical. An experienced realtor can help a seller establish a realistic value of your home by providing them with a Comparative Market Analysis.
For detailed information on why you should choose us to list your home, please contact us and we will be glad to get you off and running on toward the goal of listing and ultimately selling your home.