The asking price you set for your home significantly affects whether you will profit in the sale, how much you’ll profit and how long your home will sit on the market. The Brandee Kelley Group’s knowledge of the overall market and what’s selling – or not selling – will be invaluable in helping you determine the correct listing price. The objective is to maximize your profit in combination with a realistic marketing timeframe.
Here are some points to consider:
Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity.
True Worth vs. Cost.
Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse worth with cost – in other words, how much your home is worth to you versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Keep it simple.
Because time is of the essence, make it easy for the buyers. Remain flexible on when we can schedule showings. Also, avoid putting contingencies in your sales offer because it could cause you to lose the sale altogether.