Does Price REALLY Matter When Selling Your Home
Real estate sellers always wonder if their realtor is pulling their leg when they tell them price matters. They aren’t and it does. Pricing your home right makes a huge difference and here’s why.
The key to selling your home is pricing your home to sell. Price it right the first time, at the right time to supply and demand works for you. “So what’s the big deal,” you say, “we can come down later…” Sure, but then you have bigger problems. There are two reasons for this. The first is your buyers.
When buyers look for a home they choose a price range from the highest their budget will allow to the lowest price that represents the quality of home they want. If your home is overpriced, it won’t show up in their search. Those looking in the range you are listed it won’t be looking for your home. The other reason is that the market is active for a specific time period. The most activity on a listing is at the 30 day mark.
If you price your home too high, those who would buy it won’t see it in the most active time. Once you get to the 90 days plus mark where you a ready to lower your price, the market for your home has gone cold. The months it takes to make that decision will cost you buyers and the money it takes to keep the property in showing condition. Also, prospective buyer after that will wonder what is wrong with your home and expect you to drop your price again because you are desperate to sell.
Starting at the right price means that the right buyers see your home during that key window of 90 days. You spend less time living in a “showroom” and more time getting ready to move out of your old real estate.
Looking to get a real review of your home and the proper pricing to get it sold