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Pricing your home correctly is one of the most important steps in the home-selling process.
UNDERPRICED
Underpricing your home can limit the amount of money you receive in the sale. By setting the price too low, you may miss out on potential profits. Additionally, if you set the price too low, it may signal to buyers that there is something wrong with the home and they may be less likely to make an offer.
OVERPRICED
On the other hand, price it too high and you run the risk of deterring buyers. It can cause the property to stay on the market for a longer period of time. This can lead to potential buyers feeling discouraged or uninterested, as they may think the home is overvalued. Additionally, overpricing can lead to buyers making lowball offers or simply avoiding the home altogether, as they may think the asking price is too high.
MARKET VALUE
Market value is an important factor when pricing your home to sell because it takes into account factors such as the condition of the home, its size, location, age, and features. By understanding the market value of your home, you can determine the most competitive price to attract potential buyers and maximize your return on investment.
In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high or low, but right at market value.
It is important to note that market conditions can change over time, which is why having a realtor in your corner is crucial. I know how to price your house based on market conditions to increase the chance you’ll have more buyers interested in purchasing it.
Looking to sell in 2023, call or text for a FREE Listing Appointment.
