How To Price My Property?
The truth is we ALL want our homes and property to sell for the most we can get out it! Sometimes this can get a little cloudy because we believe we NEED to get a certain amount…or our home is worth a certain amount…
This can get frustrating for the home seller. However stepping back and considering your options can and will get your home sold FASTER!
Consider the following:
Point of View
Set aside your point of view. Step into the role and imagine you are the buyer... How much are you willing, ready and able to pay for a home and the reasons behind it ?
Unfortunately, buyers do not care how much you paid for your home, profit you need, or how much time and money you have invested updating or remodeling your home.
CMA
Get a CMA (comparable market analysis) from an experienced Real Estate Agent who can give you an accurate analysis of the homes that are comparable to your home that have sold in the last 3- 6 months. The total sale price is usually based on a price per square foot.
Active home prices can sometimes be considered, however, what you really want to be looking at are the homes that have recently closed Active does not mean sold! Remember it is an agent’s job to give you an honest opinion not the highest sell price in order to get the listing.
Market Conditions?
Is a Buyer’s Market –Is it a Seller’s Market?
Are homes selling quickly in your neighborhood?
Are home prices rising or falling?
What season will you be selling your home?
Sometimes it is better to have a lower price than a home down the street. It can generate a lot more traffic bringing in multiple offers which can bring a higher price than originally asked…
Buyer’s Needs
Some buyers have needs other than just a fair price.
When can they move in, a lot of buyers are relocating and need to move as soon as possible?
Can the seller help with closing costs or even finance the home?
Can seller help with repair costs?
The more flexible you are in meeting a buyer’s needs, the more SUCCESS you will have in SELLING your home.