IMPACT THE SPEED OF THE SALE
- A property invokes a high interest when it first hits the market.
- The number of showings is greatest during this time if it is priced at realistic market value.
- Starting too high and dropping the price later misses the excitement and fails to generate strong activity.
- Many homes that start high end up selling below market value.
SHOULD WE RENOVATE?
The value of your property is determined by what a buyer is willing to pay, not the amount of money that has gone into it. A survey by the National Association of Realtors® show that your return on investment for home improvements depends on what kind of renovation was completed and how much prospective buyers want it in your area. It’s helpful to look into what those upgrades will really get you in return.
Buyers make their pricing decision based on comparing your property to other properties FOR SALE in your area – otherwise known as “comparables”. They also choose the house that they perceive has the most benefits and features for the best value.
PLAY THE SEARCH FIELD
Buyers search in price brackets, therefore, it is better to be priced at $250K than $249,900. This way you appear in searches for homes priced from $200K to 250K and in searches for homes priced from $250K to $300K.
- The longer the home is on the market, the lower the price.
- The buying market has a short attention span.
- Pricing your home in the right range the first time is key.
- Proper pricing attracts buyers. An overpriced house will not sell.
- Provoke offers before the market moves on to newer listings.