Set Your Price Right for Success
in Selling Your Home
In preparing to sell, if you want a quick transaction you have to set the right price. The higher your price, the longer it will take you to sell it. Even if you need the proceeds out of
your home to get into a new home, it may make more sense to drop down a little to sell it without unnecessary delay, especially if you are already committed to another home. Price Is the Key -- Use Analysis, Not Emotion
Pricing Sets the Pace of the Transaction Consider the Timing Too And If You Want to Sell It Quickly, Setting the Price Is Not the
Only Consideration This article was presented by Automated Homefinder, the
To be successful, the thing to keep in mind as a starting point is being a more attractive deal than your competitors. If you use a Realtor, your agent will be able to provide you with a comparative value analysis so you will know
what prices other homes like yours have brought. Your Realtor understands the overall market and can assist you in setting a realistic price that will be to your best advantage and help you make the sale.
An important thing to realize is that the optimal price is not the highest price you can possibly get from your home, but getting the highest price in the shortest reasonable time
devoted to the process. There is a value on your time, and that is true as well for the time to find the perfect buyer, or rather having the right buyer locate get around to finding your gem of a home. Looking at it this way puts
the matter into a different light. Another disadvantage, if you are in a slow period of the market or "buyer's market" is that reducing your price after having the sign up for a while it tells buyers that you might be in
a vulnerable position. They may respond too well to any indications that you may be at a disadvantage.
If it turns out that after seriously considering the case for not going for the maximum
possible price you still have that goal in mind, you will probably just have to wait until you can achieve the higher goal; you have to give proper credence to the market. Now might not be the best time to sell, after all, so you
will give a bit on the "Sell it quickly" theme -- but even so, when the market shifts, you may need to go quickly. This could mean selling the home before you decide on another. Unless you have relatives or very good
friends with whom you can stay, you could defeat the purpose of getting extra profit from the sale by having to make do with temporary housing until you find another place. This does not work out very often but if it does you may
get the buyers to stay where they are longer. In most cases, though, once the buyers know the loan is approved they will want to close within a week or two.
Another thing that sellers sometimes inadequately consider when pricing their home is whether it is in the same condition as other homes that sold for a top price. If you have not maintained your home in
top condition, you won't be able to sell it at the same good price as similar homes. In this case you may be able to price it to sell quickly by offsetting the price of any repairs that will be left to the new homeowner, resulting
in a lower selling price but, offsetting it, less expense for you. Again, what is your time and personal attention worth? Work of a serious nature such as structural items, a roof that leaks, and heating/air conditioning units may
not be eligible for this kind of treatment, although you can get away with it for items that affect appearance. Things like replacing old kitchen fixtures, painting, fixing windows and shutters and similar jobs can be avoided by
reducing your asking price for the home. In fact, some people like buying a home they need to fix because they can make it fit what they really want. Considering both the expense of spinning your wheels and having the housestaying
for too long a time with the sign out front, both in terms of foregone money and time opportunity not to mention the erosion of the home's prestige in being fresh in the listings, the really smart move is to price it right and
complete the sale without giving it a chance to turn into a burden.
