How Can You Price Your Home for the Market?

If you want to sell your home for top dollar, you need to price your home correctly. Here are three common pricing pitfalls to avoid.

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It’s natural for home sellers to want the highest price in the shortest amount of time. However, there are three issues that you need to avoid in order to make that happen. 

First of all, don’t rush your home onto the market. Take the time to properly prepare. Take care of any repairs, painting, or maintenance items that you might have overlooked in the time you’ve lived there. When the time comes to launch your home onto the market, you want to put your best foot forward. 
Price your home correctly right from the start.
Statistics show time and time again that when homes are priced correctly from the start, they will sell for the most money. The reason is that testing the marketplace with an inflated price diminishes buyer interest. Instead of the buyers and agents saying, “Wow, what a great house!” they say, “That’s a nice house, but it’s not priced correctly. It’s a little expensive for the market.” 

Finally, if you have been on the market for awhile and you’re not getting a reasonable number of showings (three to five a week), then it may be time to adjust the price of your home. Your home should be priced based on what has come on the market or what has recently sold. If buyers are choosing other similar homes over yours, then your home is not priced correctly. 

Once you realize that your home is overpriced, it’s incredibly important to have that conversation with your agent and reduce the price of your home. If you have any other questions, just give us a call or send us an email. We would be happy to help you!