Don't Be A Secret Seller
Too often, I see homeowners and agents price a property using the 999 "Retail" pricing strategy. This is a fine idea for the retail business with lower price points, but it's ALL ABOUT THE SEARCH in real estate. You must always put your "BUYER GOGGLES" on and see things the way buyers see and search.
In this video, we're talking about pricing your home to sell in today's real estate world. One of the most important aspects of selling your home is pricing it correctly. Many homeowners make the mistake of thinking that pricing their home just a little bit below market value will entice buyers to make an offer. However, this is not always the case. In today's real estate world, pricing your home correctly is key to selling it quickly and for the best price possible.
When pricing your home, it's important to put yourself in the buyer's shoes. What are they looking for in a home? What are they willing to pay? These are the questions you should be asking yourself when determining the price of your home. It's also important to consider the current market conditions. Is it a buyer's market or a seller's market? This will play a role in determining the price of your home.
One thing that many homeowners do not consider is pricing their home at even price points. For example, instead of pricing your home at $399,999, price it at $400,000. The reason for this is that most buyers search for homes within a specific price range. If you price your home at $399,999, you may miss out on potential buyers searching for homes between $400,000 and $450,000. By pricing your home at $400,000, you are covering both of those price ranges.
Another important factor to consider when pricing your home is the condition of your home. If your home is in good condition and has been well-maintained, you can ask for a higher price. However, if your home needs repairs or updates, you may have to lower the price to reflect the cost of those repairs.
In conclusion, pricing your home correctly is crucial to selling it quickly and for the best price possible. When pricing your home, put yourself in the buyer's shoes, consider the current market conditions and price your home at even price points. A Comparative Market Analysis is a great tool to help you determine the price of your home, and the condition of your home is also important to consider. Remember, pricing your home too high can be a costly mistake. If you have any questions or need help pricing your home, don't hesitate to contact a real estate agent. They will be happy to assist you in pricing your home and getting it sold.