(925) 786-5064
(925) 786-5064
(925) 786-5064

How To Price Your Home To Sell

Strategically Pricing Your Home to Sell

 

How to determine what price you will list at can be challenging depending on the current market, i.e. is it a seller’s market, buyer’s market, or flat market. Regardless of the type of market, the ultimate price will be determined by the buyer.

To determine the best price, first look at which way the market is trending. Review the comps for homes that are similar to yours, square feet, bedrooms, baths, lot size, amenities, and condition.

The strategy of overpricing a home when you list, with the idea you can reduce the price later, seldom works. Even in a market with low inventory, you still must price according to what the market will bear and what the home will appraise for. If you do overprice here are the possible outcomes:

  • Fewer buyers will respond if they believe it is overpriced
  • Fewer agents will show your home to their buyers if they know it’s overpriced categorizing you as a non-motivated seller
  • An excessive price on your property makes others more attractive
  • You will get fewer serious offers, as buyers don’t want the hassle of the negotiation process and to feel that doing so is a waste of time
  • Even if you get an offer where a buyer will pay over the market, there is the issue of the appraisal.
  • Reducing the price after the home has been on the market may send a signal to a buyer you may come down further, especially if the home has been on the market for a while
  • Pricing your property competitively will generate the most activity from agents and buyers.
  • Pricing your property too high may make it necessary to drop the price below market value to compete with new, well-priced listings.
 

 

 

 



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