A home is a major financial investment and for many the most valuable asset they own. The equity built in your home over many years should be carefully protected when it comes to selling your property. Current market conditions determine the value of a property. Capturing the right price in any given market is one of the most critical elements of a successful real estate transaction.
Realistic pricing will achieve the maximum sales price in a reasonable amount of time. The goals of pricing a property for sale are to 1) attract the highest number of able, willing, and qualified buyers, 2) get the highest possible price in the shortest amount of time, and 3) get the terms and timelines of the sale that work for you. Fair market value attracts buyers and pricing your home right the first time is key since pricing too high can cost you time and money.
A property generates the most interest when it first hits the market and your best chance of selling your home is in the first two to four weeks of marketing. The number of showings is greatest during the first couple of weeks on the market if the property is priced right for the market. Many homes priced too high end up sitting on the market longer and selling below market value. Keep in mind that many buyers are willing to pay premiums for move-in ready homes with modern systems, upgrades, and amenities.
Consider preparing your home for sale by making upgrades, repairs, and renovations that will add value to your property and help your house sell quickly. Sellers may opt for an evaluation by a licensed home inspector prior to listing their home for sale in order to help make decisions on which upgrades and repairs to take on before putting a house on the market. An inspection will also prepare a seller for any issues that may arise during the inspection contingency period of a transaction. Unexpected inspection problems may cause delays in a sale or result in the buyer walking away from property.
Finally, remember that pricing a property is not an exact science and you may need to adjust your asking price based on feedback from potential buyers or changes in the market. Being flexible and willing to negotiate will help ensure a successful sale.
