With the “Spring Market” within sight, proper pricing is going to be more crucial than ever. The decision to set the asking price on your home should not be made in a careless fashion. Ironically, many homeowners set their price based upon the wrong factors. One of the biggest errors in pricing is made when an owner attempts to sell the present home for more than it is worth in order to get enough money to buy the next home. Your present property is worth what a willing buyer will pay regardless of what your financial needs may be.
Here are the three criteria your asking price must meet in order to be successful:
Will it bring you top dollar? Of course, the asking price should allow you to obtain every last penny to which you are entitled from the sale of your property. This top dollar figure must be within reason, however, or you will suffer from the common problems that everyone experiences when their house is overpriced.
Will it attract buyers? You will never receive top dollar is no one comes to see your home. Buyers are well informed. Many times, buyers are better informed than sellers. Sellers only know their property, where buyers have personally visited many homes and are in a position to compare your home and its price with others they have seen.
Will it allow for some negotiation? No buyer want to admit that he or she paid full price for a home purchase. Human nature being what it is, people like to feel they made a good real estate investment. The seller who holds out for full price is ignoring the needs of the buyers.
Advice: No one knows your local market better than Realtors®. They help people buy and sell homes every day. Look to your Realtor to help you sell your home.
