Pricing is one of the three key factors determining the success of a home sale (marketing and accessibility to the property for viewings are the other two).
The price determines the number of potential buyers who will even see the home on the MLS, of those who see it, it determines what their inital assessment of value is and whether they personally view the home. Once they view the home they compare the value of the home based on what other homes are available at the same price.
It's critical to get pricing done right. Here are 5 ways NOT to price your home:
1. Basing your price on another home’s asking
price
2. Basing your price on recent renovations
3. Basing your price on how much money you
need
4. Basing your price on a different type of
home or a home in a different location
All of these pricing "strategies" will lead to less activity on the property, disappointed buyers and frustration in dealing with a property that won't sell. And, eventually, when it does sell, the final price will invariably be lower than what could have been netted with proper pricing at the outset.
Contact me today for a free Market Evaluation of your home or to chat about the current real estate market. I'm here to answer your questions, you don't have to be moving to contact me!
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