Establishing your property listing price is more of a science than an art – although many home sellers price their homes based on emotion instead of data. If you overlook the factors that contribute to an accurate pricing, you may lose time and opportunities. A realistic price figure may be less than you expected, but listing your home correctly from the beginning will avoid a long listing that eventually will not sell.
Home sellers often believe that overpricing is recommended because eventually someone will pay the price. But there are many aspects sacrificed in this process, among losing a lot of time and money. If the new home is already bought, facing two mortgages that need to be paid in the same time can be very challenging. And maybe less visible, lowering the price in time induce some vulnerabilities about the house as clients might start wondering if something is wrong and looking to renegotiate the price even lower.
Home sellers are subjective and overpricing often results from the sentimental value they attach to their home and the lovely time spent there. Or may result from the value they attach to the renovations done before listing it on the market, without thoroughly analyzing what is worth to invest in for the best return, by taking into account all the factors contributing to the home value, like neighborhood, location, buyer demographic, the actual condition of the house.
For the best pricing strategy, consult a real estate agent who will determine the appropriate listing price looking at comparable homes, near-identical, having similar surfaces, floor plans, location and amenities. A real estate professional can make an accurate estimate of the asking price, based on relevant data – this is crucial for you making the sale at the best value in the shortest period of time.
Contact us if you want us to provide you with an estimate of the price you could expect to achieve when listing your property for sale!