The Importance of Intelligent Pricing

Determining the best asking price for a home can be one of the most challenging aspects of selling a home. It is also one of the most important. If your home is listed at a price that is above market value, you will miss out on prospective buyers who would otherwise be prime candidates to purchase your home. If you list at a price that is below market value, you will ultimately sell for a price that is not the optimum value for your home. Therefore, by pricing your property at market value, you expose it to a much greater percentage of prospective buyers. Thus increasing your chances for a sale while ensuring a final sale price that properly reflects the market value of your home.

Another critical factor to keep in mind when pricing your home is timing. A property attracts the most attention, excitement and interest from the real estate community and potential buyers when it is first listed on the market. Improper pricing at the initial listing misses out on this peak interest period and may result in your property languishing on the market. Eventually leading to a below market value sale price, or even worse, no sale at all. Therefore, your home has the highest chances for a fruitful sale when it is new on the market and the price is reasonably established.

We can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

General Rules…

Let’s review some important considerations. There are certain factors that are within our control. Those factors outside of our control are: the locations of the property, the finished square feet and types of rooms and the amenities that are in place. Those factors we can control are: the appearance of the property inside and out, how aggressively we market the property and the price, including terms. It is critical for us to accept those factors that are beyond our control and to focus on pricing preparation.

Local Market Observations…

The market is still strong. Given the current interest rate situation we should continue to experience relatively low mortgage rates and thus the market should remain steady for awhile.