PLEASE NOTE we are now brokered by eXp Realty. Call or text Alisha Collins, eXp Realty at 307-247-1806 or email at alisha@casperpowerhouse.com We are excited to talk with you!
Do you have a home pricing strategy? We Want To Set You Up For Selling Success. Watch this series videos to find out how to have selling success.
Number one, price your home at the highest price, higher than the real estate agent’s suggestion. I sometimes hear a seller say, “We can always go down.” Well, this can be risky. There are lots of studies that show pricing too high can net you way less in the long run. I can show you lots of homes where this is the case. And as agents, we really don’t like this option because of the less price that you get. Here’s a recent example. The market analysis came in at 395,000 but we thought we could push the market a little bit so we were going to list it at 405,000. Sellers thought about it and decided they wanted to list at 440,000. And after 10 months in this hot seller’s market, the home finally sold for $365,000. In this scenario, the seller missed significant exposure at the list price that was reasonable for the market. Priced at 405,000, this home would most likely have sold quickly for the price much closer to the list price. If you insist on pricing your home higher than it should be, you can’t stay too high or too long or the above could happen.
Number two, pricing your home exactly at the market price when compared to other like homes. In this option, you should sell quickly but may not have quite as many showings. You will have more competition here because a majority of homes are priced at market value. Your home priced this way will obviously sell faster than the home that is priced too high but probably not as quick as a home priced right under market.
Which brings us to number three, pricing your home right under market price. This is where the magic happens. And I’m not talking about tens of thousands of dollars less but a little less. Not only does this attract people to your home, many times it generates more than one offer. In this scenario, you aren’t chasing the buyer. They are chasing you. Sometimes you get higher offers than you would have gotten if you priced your home at market price. Of course, every situation is different but usually option number two and three are the best way to go. We want to set you up for selling success.