Are you pricing your house to SIT or SELL?

Are you pricing your house to SIT or SELL?

Hey, everyone. Pricing properly is one of the most critical elements of selling a home. There are two approaches to pricing a property: you price it to sell or price it to sit.

Buyers today are more educated than ever. They want an up-to-date home in good condition with a reasonable price tag.

A couple of weeks ago we had a client whom had her home appraised. The appraisal value came in at above $300,000 and that is what she wanted to price the property at.

Now, the appraiser hadn’t taken into account all the work the home needed for it to be up-to-date in comparison with competing homes. We wanted to price the home lower. Because the client's independent appraisal came in above $300,000, against our better judgment, we agreed to list the home at that price.

The home had eight showings. We got feed back from six of the buyers and their agents. All the feedback affirmed what we had thought. The home needed too much work done and the price needed to be lower.

It’s important to listen to your real estate professional. They know the market; we work in a retail business. We want top dollar just as you do. There is a fine line, though, between overpricing your home and getting the most money out of your sale.

Thank you for watching. If you have any questions, please give me a call!