by Yvette Betancourt
Are you getting ready to place your property on the market? As a Potential home sellers, you've looked at your neighborhoods Open House and searched thru the internet to get an idea of the value of your home.
However, beware of these four common pricing mistakes that most homeowners make while having their property on the market.
1. PRICING TOO HIGH FROM THE START
Pride in homeownership is a wonderful accomplishment. Unfortunately, what may be a high selling point does not often reflect in resell value.
Solution: Statistics show that homes priced correctly when they first hit the market sell closer to the asking price than homes that start too high, then have to adjust downward.
2.USING AN ODD LIST PRICE, LIKE $864,257
Solution: Always price in round numbers! REALTORS® search for homes using price categories - make sure your pricing makes sense when agents search a window of $250,000 to $350,000, for example.
3. NOT BASING YOUR PRICE ON SOLD HOMES
I believe this the most common mistake because we all focus on the active listings that is on the market right now. In reality, actives listings are a prediction of the market, pending/backup offers are a indication while recently sold (within the last three months) are the best indication of the current market.
Solution: Searching actual "SOLDS" is the only true pricing guide. A home can be listed for any amount - that doesn't mean the home will ever sell for that amount.
4. REFUSING TO NEGOTIATE
Solution: Your asking price should have some built-in flexibility. Otherwise, you're bound to turn away and turn off some serious buyers.
For a FREE current Comparable Report on your property, email us. Our reports include photos, description, and map of comparable based on your property location. know the value of the home.
Are you getting ready to place your property on the market? As a Potential home sellers, you've looked at your neighborhoods Open House and searched thru the internet to get an idea of the value of your home.
However, beware of these four common pricing mistakes that most homeowners make while having their property on the market.
1. PRICING TOO HIGH FROM THE START
Pride in homeownership is a wonderful accomplishment. Unfortunately, what may be a high selling point does not often reflect in resell value.
Solution: Statistics show that homes priced correctly when they first hit the market sell closer to the asking price than homes that start too high, then have to adjust downward.
2.USING AN ODD LIST PRICE, LIKE $864,257
Solution: Always price in round numbers! REALTORS® search for homes using price categories - make sure your pricing makes sense when agents search a window of $250,000 to $350,000, for example.
3. NOT BASING YOUR PRICE ON SOLD HOMES
I believe this the most common mistake because we all focus on the active listings that is on the market right now. In reality, actives listings are a prediction of the market, pending/backup offers are a indication while recently sold (within the last three months) are the best indication of the current market.
Solution: Searching actual "SOLDS" is the only true pricing guide. A home can be listed for any amount - that doesn't mean the home will ever sell for that amount.
4. REFUSING TO NEGOTIATE
Solution: Your asking price should have some built-in flexibility. Otherwise, you're bound to turn away and turn off some serious buyers.
For a FREE current Comparable Report on your property, email us. Our reports include photos, description, and map of comparable based on your property location. know the value of the home.
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