Common Pricing Mistakes That Sellers Make
Make sure to avoid these common pricing mistakes when selling.
We are currently seeing listings stay on the market longer and not sell for absurd prices, which is unlike what we've seen over the past 24 to 36 months. To adapt to these changes in pricing, there are a few points you need to know so you can be a successful seller:
1. Don’t get caught up in sentimental value. You may think your home is worth the moon because of the wonderful memories you’ve made in it, which is completely understandable. However, those things don’t always translate to value, so present a price that makes sense for the market. Also, remember that not all of your fix-up projects will get a dollar-for-dollar return. Spending $3,000 on flooring does not mean you’ll necessarily get $3,000 more. Prices fluctuate, so be willing to be flexible.
"Not all of your fix-up projects will get a dollar-for-dollar return."
2. Don’t overprice your home to avoid chasing the market. Instead, you should price your home more competitively. In the past few years, we’ve had both a seller's market and a neutral market, and during this time we found that pricing just slightly below market value will yield the most money for your home. This way more people see your home and make offers.
3. Look at comparables and do your research. It may be hard to find comparables if you aren't a licensed real estate agent with the most up-to-date sales data. You can try to look at the county assessor site, but that is a lot of work, and those numbers aren't always accurate. Therefore, if you're looking to figure out what your home’s value is, call one of our seller specialists. They would love to connect with you and discuss how they're finding comparable homes. Also, by using our seller's marketing package, you can generate the highest possible offer for your home.
If you have any questions or would love to connect with us on how we can help you price your home to get top dollar, just call or email us. We’re always happy to hear from you!