Setting the price for your home is challenging. Too low, and you leave money on the table. Too high, and you scare away buyers to other properties. To complicate all this, your home is an emotional asset- it’s hard to see it objectively.
To find the OPTIMAL price- one that maximizes the sale price and minimizes the time it takes to sell- requires strategic thinking.
Pricing is something agents spend their careers refining and mastering. They combine intimate local and national market knowledge, an exhaustive study of similar homes for sale, and an analysis of past sales to come up with the optimal list price. And then they combine that with your unique needs to pick a price that fits YOU!
It’s no easy task, but it’s a critical one. Pricing your home right the first time results in more exposure, more showings, more offers, and ultimately, the highest price for your home.
If you want to get as much for your home as possible within a reasonable time frame, you need to get the price right.
First, it is important to understand that only the market can determine the ultimate value of your home. That said, choosing the optimal list price is essential to maximizing your home’s value.
If you price too low, you risk not getting as much as you can for your property, but price too high and you risk losing potential buyers who may think your property is out of their price range and you help your competition sell faster.