Pricing Your Home Right: A Guide to Navigating Pricing
The price of your home is a critical factor when it comes to getting your home off the market quickly. If selling fast is your goal, then pricing your home strategically from the start will be imperative to completing your goal. The price is one of the first things a buyer looks at, so you want to make sure you are pricing competitively to attract potential buyers, but also accepting a great offer. In this blog post, I will address how to price your home competitively to generate interest and complete the selling process quickly.
Evaluate Your Competition
First, you need to evaluate your competition. Look into other properties that are currently listed in the town you are selling your home in. Examine the homes to ensure they are around the same size, location, and age. When you compare your price and home to those on the market already, you are setting yourself up for success.
Find an Experienced Agent
It is hard to navigate the current market trends and evaluate your competition by yourself. It is very useful to have a real estate agent on your side. You will have someone to consult with and engage in in-depth conversations about the local market and how to make informed pricing decisions.
Attracting the Perfect Buyers
If you overprice your home, you are eliminating potential buyers that are more likely to be serious about putting in an offer. A lot of families need to stay within a range and do not look outside of that range. This means that your home price needs to match the range in the area for the type of amenities and details about your home. When you price right, you will attract the right buyers.
Leverage Online Presence
Did you know that you can sort and filter on many real estate search tools? Potential buyers can filter based on their projected price range. This means that being outside of a certain price range can eliminate many buyers from seeing your home. If you price your home correctly, it will be seen by the right audience due to accurate pricing.
Set Realistic Expectations
When your home is accurately priced and potential buyers do not feel “ripped off” by the price tag on the home, buyers will acknowledge that they are getting a great value for the money they are spending on the home. They will also be more positive during open houses or viewings. Once they put an offer in, you may be more likely to have a smoother sales process with less negotiations.
Overall, we want to reiterate the importance of setting your home’s price correctly once you hit the market. When you do not over or undercharge, you will be able to find the right buyers and audience. It will help reduce the time on the market and need for a price reduction. Pricing your home strategically is a key factor in quick home sales. Make sure that you are evaluating your competition, asking for help when needed, attracting the right buyers, leveraging your online presence, and setting realistic expectations. While this may feel overwhelming, you do not have to do it alone. Make sure that you find a real estate agent who knows the local market well!
We hope that this blog post has helped you learn how to price your home correctly. If you need an experienced real estate agent to help you strategically price your home in the CSRA, please contact us!
The Bradley Sikes Group
Meybohm Real Estate