Things Every REALTOR® Wants You To Know – Pricing Your Home
Buying or selling a home can be a very challenging task. That is why most people rely on the expertise of a REALTOR® to guide them through the process. This is the first of a series that every REALTOR® wants you to know, whether you are buying or selling.
Pricing your home properly is probably the single most important task the real estate agent will do. The REALTOR® will conduct a CMA to determine a range at what price the property will most likely sell. There are a lot of factors that will tweak the price that need to be discussed between the agent and the sellers, such as how quickly you want to sell, how much you want or need to realize from the sale, etc., however, how much you want or need to realize will most likely not affect the selling price of the home. It’s important to understand that sellers determine the listing price of a home, but buyers determine the selling price.
The kiss of death in real estate is overpricing your home. I know every seller wants to make the most they can for the sale, but over pricing the home may leave it languishing on the market. Couple that with the fact that every buyer wants to buy the home at the least amount of money. A home that has been on the market for an extended period of time tells prospective buyers that there is something wrong with the property, whether or not that is true.
If you are looking to sell your property very quickly, price your home just under the market value. This will ensure that potential buyers will see the listing as a compelling buy that they need to move on. It may also result in competitive bids, which is not a bad thing for a seller.
If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.
As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.