Your listing price is the most important “ingredient” to consider when deciding to sell your home. In the end, the goal is to make the entire package attractive to buyers, and price is one of the first criteria buyers will use to differentiate properties. Pricing your home appropriately will help you reach that end goal, both more profitably and sooner.
Put the Shoe on the Other Foot
Of course your home means a lot to you: it has most likely been one of your largest investments, and priceless memories have been made there. Now, stop and think like a buyer. They don’t care what you paid or about the life you have lived in that house that makes it so valuable to you: they care about what is valuable to them. Don’t price your home based on sentimental value, price your home according to what like homes in your area have recently sold for.
Get a Feel for the Market
Do some research on your own. See what similar homes in the area have sold for and consider economic conditions, the market is probably not the same as when you bought the home. Studying these factors will help you get a feel for what your home may be worth now.
Overpricing Will Backfire
Assuming you will overprice your home and then maybe get a little more from the “right” buyer often backfires. Keep in mind that buyers do their research too, and they likely know what a fair price is for your home in the current market. An overpriced home decreases the market activity towards your home: the more overpriced the less likely you are to get calls, showings and offers.
Best Way to Price
The best way to price is to assess the value of your home, and price it what it is worth or even a bit less. This strategy increases buyer traffic, and may produce a multiple offer situation, which can serve to drive up the end selling price.
 An overpriced home is a tough sell, work closely with your real estate agent to determine the worth of your home, and price it accordingly.
 Need help assessing the value of your home? Do you need a real estate agent to help you determine a selling price and get your home on the market? Work with a Sold on Sunday real estate agent: experienced, knowledgeable, and passionate about selling your home.
Call us at (781) 910-7155 or info@soldonsunday.com to learn more about selling your home today!
Tags: MA real estate agents, MA seller agent, pricing your home, selling price, selling your home