Getting Your Price Right

Whatever your reason for selling, the key to selling your home within a reasonable amount of time could very well be the price tag you hang on it whether you're in a buyer's market or a seller's market. Setting the correct asking price is the most important step in the process of selling your home. The alternative to setting a price, is a no price Auction or a Tender. But that will be two other conversations!

Homes that are overpriced simply don't sell, in fact they scare away potential buyers. Home buyers look at houses in ranges. Set a price that's too high and they'll think that your house is too steep for their wallet and they won't even bother to take a look at it. Buyers are immersed in the market. They've seen lots of properties and usually know the reasonable price ranges for properties they are interested in.

So if your selling strategy is to set an unrealistically high price in hopes that someone will bite, rethink your strategy. Overheated markets can get some sellers overexcited! Homes that are overpriced will generate no offers, no negotiations and no sale. What it will do, however, is drive potential buyers into the arms of the competition - other, similar houses that are on the market at more realistic prices, which means that your property could sit unsold for a long period. We’ve all seen these properties in our neighbourhoods before.

Homes that are on the market too long become "shop worn", leading agents and buyers to conclude that something must be wrong with the property. Set your price too low, on the other hand, and you'll leave a pile of money on the table. But price it right and it should sell quickly regardless of market conditions.

So how can you figure out the right asking price? Fortunately there are resources available to you that will help you determine the fair market value for your home, which is what a buyer is willing to pay you and you, the seller, are willing to accept. One of them is called a “Comparative Market Analysis. It's a written analysis that compares your house to others like it in your area that sold recently or is on the market in your neighbourhood.

A Comparative Market Analysis will give you factual information about the houses: Number of bedrooms, baths and the size of the house and land, also consider things such as what type of views the property enjoys, the neighbourhood, amenities such as fireplaces and swimming pools, as well as the listing prices and the sold prices.

Getting a Comparative Market Analysis for your home is very easy. All you need to do is call me on 021 406 967 and I will happily come to your home and generate a Comparative Market Analysis and suggested a listing price. It's all part of the service that I provide. It’s free, it has no obligations expected and we can discuss it over a period of time it requires to have a cup of coffee! I like to provide estimates at the time of the market analysis, so there is no waiting around. Call Debbie Aldred at RE/MAX Realty Group a call anytime!