The #1 Thing to Get Right When Selling Your Home

We’ve written a variety of articles in the past on topics ranging from the most important rooms in a home to the dos and don’ts of property sales, energy efficiency, and affordable ways to increase property value. If after you’ve used these tips and your house has finally been sold, the time will come for you to think about moving into a new house of your own. To make this as less stressful as possible, and you happen to live in the relevant area, it may be in your best interests to contact Removal Van Hire From Compare The Man & Van who can help you on your way.

While all of these factors are crucial when selling your home and it’s a great idea to hire a window cleaning company before showing people around your home, there’s one thing that stands above the rest and can make or break your sale from day #1. Your renovations, new appliances, picture-perfect staging, and energy efficiency won’t matter if you screw this up…

What is the one thing we’re referring to? The price.

Why Price Matters Above All

Price is the single most important variable to consider when selling your home.

If you price your home too high, interest will quickly wane, and you’ll be forced to lower your expectations time and time again. Research confirms homes with price reductions stay on the market far longer and generally sell for a lower price than comparable properties.

The problem is, homeowners always want to price their house higher than it’s worth. In an effort to appease clients, many listing agents go along with the plan only to regret it as problems arise down the line.

On the other hand, a home priced too low may not generate the return on investment that might otherwise be possible. Not to mention homes priced too low can decrease the value of an entire neighborhood.

Pricing a property is a balancing act – a fine line between science and art. Once you have taken great consideration into the price of your sale, as well as having done some research into other listing prices to compare to, get in touch with a company similar to House Buyers of America and many others to start with the sale of your property.

How to Price Correctly

Establishing the correct price begins with an understanding of the intersection between market demand, the selling points of an individual property, and the value of the surrounding area.

Working with an expert real estate agent can help you navigate the many pricing challenges. But it doesn’t hurt to reinforce the work of your agent by promoting your home yourself with promotional signs. Before setting a price, here are some of the questions you and your agent should analyze/answer:

  1. Comparable listings & sales – What similar properties exist in a 1/2 or 1/4 mile radius?
  2. Sold comps – What are the list price to sale price ratios? Have any price reductions occurred?
  3. Withdrawn & expired listings – Why didn’t these homes sell?
  4. Square footage comparisons – How does the average price per square foot stack up?
  5. Market variables – Is it a buyer’s market or a seller’s market?

No matter if you’re in the thick of selling a home or just want some advice about pricing, we’re here to help. Our team can be reached at sales@spectrumrg.com or (305) 921-0972.