The most important element to selling your home is making sure you’ve priced it accurately. While you don’t want to underprice your home, you certainly don’t want to overprice it either. So how do you know what to price your home? Well, if you want to sell your home, experts suggest that you price your home based on the value. Here are some issues to avoid when it comes time to sell your home.
Starting with a Higher Price
The first ten days after your posting goes live is the most crucial time for the selling your home. If you begin with a higher price, buyers will most likely skip your listing because it’s out of their price range. You also need to consider that if you start with a higher price and then lower it after a while, buyers may be interested in your new lower price but will also see that your listing has been sitting on the market for a while. This may lead them to believe that there’s something wrong with the home.
Perhaps your fond, most-treasured memories make up the sentimental structure of your home. And some home sellers think their home is worth more than it is. No matter how long you’ve stayed in the home, chances are that you will have emotional attachment. While it’s perfectly normal for the home to have such sentimental value, it’s not wise to price the home based on emotional attachment.
Not Enough Research
Another mistake that buyers tend to trap themselves in is not performing enough research in the housing market. It’s wise to know your competition while investigating past sales within the market. You should look at the current houses in your neighborhood to get an idea of their costs and circumstances. This will help you and your agent determine the best price for your home.
Sellers may not always use websites to compare the price of their home with the price of homes in their area. While it’s not wise to fully rely on these websites for accuracy, it will give you a good estimate on the current value.
Avoiding a Local Agent
Occasionally, sellers may want to sell their home themselves. If they sell it at their own price, they don’t have to share a profit or price too low just per agent suggestion. Working with a local agent will not only help you find the best price for your home, but they know the market and the surrounding sellers and can offer tips and advice on proper selling price.
If you’re getting ready to sell your home, you may want the assistance of an expert realtor in Martin County to help you price it for it’s worth. Contact our trusted team at Olde Florida Realty to get started!