The selling price you set for your home is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors including:
- Market conditions
- Condition of your home
- Repairs or improvements
- Time frame
In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days.
If the price of your home is too high, several things could happen:
- Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
- Limits showings. Other salespeople may be less reluctant to view your home.
- Used as leverage. Other realtors may use this home to sell against homes that are better priced.
- Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
- Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price.
- To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.
- Wasted time and energy. A bank appraisal is most often required to finance a home.
Realtors have known it for years – Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that’s why you need a professional to assist you in the selling of your home.