One of the first things you should discuss with your Realtor after you have decided to list your home is not what price you should list your home is what kind of pricing style will work best for your home and neighborhood. In today's market where you price your home will ultimately factor in how long it will take to sell, but it's often the one thing that Realtors tend to not discuss. Before you list your home you should meet with all the decision makers that will be involved in the process and decide how long you want the process of selling your home to actually take, than discuss with potential Realtors how they will get it done within the timeframe your looking for.
Overpriced
Many sellers will over-price the home with the thought of it gives more room for negotiation. It's unfortunate that technology has began to undermine a sellers way of thinking since we are unable to express that thought to potential buyers who are viewing your home online. Your home will be bypassed by those potential buyers in your price range of what your home is actually worth. For buyers looking in the price range of where your home is priced they will be disappointed because the competition will offer much more than yours. As an overpriced listing your home ultimately won't sell until you at least become priced for market value. An overpriced listing is when you are priced $15,000 higher than the best comparable home in the area.
Market-Value Priced
This is where the majority of the homes are priced in todays market ! Your in the range to get your home an offer so paying attention to feedback from Realtors and buyers is key. If your seeing the same feedback about simple fixes that might help your home sell, you should consider doing those repairs. Taking feedback about clutter or lack of curb appeal than cleaning out a bit could make a world of difference. If there are larger issues being brought up in feedback you may want to talk to your agent about either A. Adding a home warranty or B. Adjusting the price. Market-value home should sell with a difference of only 3% - 5% from the list price, within 90-120 days of being on the market.
Action Priced
This is where you should price your home if you want to sell it in the next 30 - 60 days. Many people assume that action priced means that it is below market value, but that is not actually the case. You will price your home between $10,000 - $12,000 below your highest comparable homes. This is where technology will work to your benefit because they buyers will immediately see the value in your home ! Homes that are action priced will often be the homes that receive numerous offers, that result in offers going above and over the list price because of the large amount of buyers who will be seeing it.
Keeping in mind that each persons reason for moving is different is the most import reason you should sit and speak with everyone involved in deciding on the timeline and than discussing with the Realtor what they will do with the pricing to get your home sold. Remember the follow-up and feedback with your home is very important as well, so choose a Realtor who will give you the Full-Service treatment when they are selling your home !
This is where you should price your home if you want to sell it in the next 30 - 60 days. Many people assume that action priced means that it is below market value, but that is not actually the case. You will price your home between $10,000 - $12,000 below your highest comparable homes. This is where technology will work to your benefit because they buyers will immediately see the value in your home ! Homes that are action priced will often be the homes that receive numerous offers, that result in offers going above and over the list price because of the large amount of buyers who will be seeing it.
Keeping in mind that each persons reason for moving is different is the most import reason you should sit and speak with everyone involved in deciding on the timeline and than discussing with the Realtor what they will do with the pricing to get your home sold. Remember the follow-up and feedback with your home is very important as well, so choose a Realtor who will give you the Full-Service treatment when they are selling your home !
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