When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced Realtor®.
What factors influence the sale price of my house?
Your selling agent should provide you with an honest assessment of your home, based on several factors, including:
- Market conditions
- Condition of your home
- Repairs or improvements needed
- Selling timeframe
- Market value – In real estate terms, this is the price at which a particular house, in its current condition, should sell within 30 to 90 days.
My home is priced high, what’s the harm?
If the price of your home is too high, this could cause several things:
- Limits buyers – Potential buyers may not view your home because it appears to be out of their buying range.
- Limits showings – Other agents may be more reluctant to view your home if they believe it to be overpriced.
- Used as leverage. Other Realtors® may use this home to drive the sale of other homes that are better-priced.
- Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong?” or “why hasn’t this sold?”
- Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price – sometimes several times. In the end, you’ll probably get less than if it had been properly priced in the first place.
- Wasted time and energy. A bank appraisal is most often required to finance a home, so even if a prospective buyer thinks the home is worth the inflated price (because they love it!), if they need financing, the appraiser and lender may not agree.
Trust your Realtor®
Realtors® have known it for years – well-kept homes that are properly priced in the beginning always get you the fastest sale for the best price! And that’s why you need a professional to assist you in the selling of your home.
Often, in a seller’s market, homes that are priced slightly below market value initially will sell for more, simply because of the extra interest they incite. This can be a risk, however, and when it comes to such a decision, an experienced, trusted Realtor® is your best ally.
Contact the Donnelly Group Today
Having the right real estate professional to guide you through your home sale can save you time, gray hairs, and add more to your bottom line! If you would like the Donnelly Group on your side, call 480-792-9700 or email us today.