One of the most important decisions you will have to make when selling your home is choosing the right asking price. Homebuyers have a large supply of choice so you’ll have to set a fair market price in order to attract the most visits as possible and sell your home quickly.
Some things to consider when deciding on your price: The age and condition of your home, comparables that sold in the area, how the market is shifting, how much competition you have on the market, etc. Setting the right price can be a very difficult task, which is why your realtor will simplify the task for you in evaluating and analyzing your home and the market.
In order to have a smooth and speedy transaction, the best thing to do is to price your property close to market value and keep it attractive. Contrary to belief, if you price your home at the right price and limit your margin of negotiation, you will have an offer, and even multiple offers before you know it and have a very pleasurable selling experience.
Buyers these days are educated on the market, therefore showing them the value is justified, when listed at the right price, isn’t difficult. However if you overprice the home you run the risk of scaring away potential buyers because they either feel that the price listed doesn’t fall in their budget, or they find it’s unreasonable thereby creating a point for debate which could ultimately aggravate negotiations. The best way to get the best value for your home is to get as many visit as possible and we should price the home well in order to allow for this.
Your home will also be less likely to become stale on the market, resulting in potential purchasers questioning why it hasn’t sold yet. A house that is overpriced by 10% of it’s actual market value is much less likely to sell within the first 30 days than one priced within 5% of it’s true value. Not only will an over-priced home take longer to sell, it is also likely to sell for less than it’s actual value. This is due to the negative effect often associated with properties that have been on the market for a longer than average time.
The experience and knowledge of good realtors such as Pouria Ansary is invaluable. They spend a great deal of time and energy keeping themselves informed and have the resources, connections and ability to keep you up-to-date with it’s constant changes. The best source for determining and getting the highest price possible is an informed and experienced realtor.