Pricing is one of the most complicated things about selling a home. How you price your home is how you are able to get the most money for it.
There are three factors that go into the successful sale of a home:
Pricing your home correctly is how you are able to entice the largest number of people to see your home. The more interest and more people that walk through your doors, the more offers and the more money you get! Anytime you are able to get multiple offers for your home, in addition to getting the most money, you will also get the most emotionally invested buyer. An emotionally invested buyer will be more willing to work with you all the way to closing, regardless of issues that may arise later!
If you price your home right at market value, 60% of buyers in your price point will see it. Some people just want a good deal and won’t look at homes that are at market value, which is why it’s not 100% of buyers.
If you price your home 10% above market price, you will get you 30% of buyers in your price point to see it.
If you price your home at 15% above market price, you will get 10% of buyers in your price point to see it.
Correct pricing is strategic. It’s based on the square footage and age of your home, your neighborhood, and what homes have sold for nearby. It constantly changes and can be completely different just a street over from where you live!
Make sure to get a Realtor who is ACTIVE in the neighborhood that you are selling in so that you can get the right price straight out of the gate!
As always, I’m here with any questions you might have!