When listing and pricing your home for sale using the right listing price is crucial to successfully selling it and for the best price possible. Right now home prices are increasing and are expected to increase by about 4% into next year. Much of this is due to the demand for homes from low inventory, but even a home priced incorrectly in a seller’s market is going to sit on the market longer than it has to or even end up selling for less money than it could have.
When trying to sell your home, you want to reach as many potential buyers as possible and provide things that would entice them to come and take a look at it. In a seller’s market, a homeowner always benefits from working with an experienced local agent to price the home just right and bring multiple buyers to the offer table.
The Dangers of Listing Too High
Many sellers naturally think that in a strong sellers’ market they can price their home on the high end because buyers are willing to pay a little more just to get into a house that they want. Higher prices bring more money to a seller’s pocket right? Not necessarily. Even during a seller’s market when there are fewer homes for sale, a high price tag can cause a buyer to look at other more reasonably priced homes. Pricing a home too high in any market can cause a home to sit longer and result in a price drop below market value to generate interest.
It is Smart to Get Your Realtor’s Help When Pricing Your Home
The work of pricing a home just right requires the helpful expertise of a professional in the real estate market. Experienced real estate agents sell homes for a living so it is in their best interest to know how to accurately price a home.
They are constantly checking the many factors that go into home pricing, they know the most current factors of the local real estate market. When pricing a home they check into comps: what similar homes in your neighborhood have recently sold for, current general market values for the city you live in, they take into account the most sought after home characteristics and what your home has to offer that buyers want, they take all of these factors into consideration to help find the best listing price for your home.
Right now pricing a home to sell is the best strategy, because it will bring in the most interest from buyers and could even result in multiple offers that may just sell your home for more than you expected.
If you are hoping to sell your home in Parkland this fall, please contact me right away. I have extensive local real estate knowledge to price your home accurately and help get it sold successfully.
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