The asking price you set for your home significantly affects whether or not you will profit in the sale, how much you will profit, and how long your home will be on the market. I will guide you in this area and share with you my knowledge of the overall market and what’s selling or not selling and will aid you in determining the list price. The objective is to find a price that the market will bear and will also net you the most money possible.
Here are some points to consider:
Time. Time is not on your side when it comes to selling your property. Although many factors influence the outcome, perhaps time is the biggest determining factor in whether or not you see a profit and just how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, since I’m sure your goal is to make money, we will decide on a price that will encourage buyer activity.
Value vs. Cost. Pricing your home to sell in a timely fashion requires a bit of objectivity. It’s important that you not confuse value (how much you value your home) versus cost (what buyers are willing to pay for it.) Don’t place too much emphasis on home improvements you have made when calculating your price, because buyers may not share your taste or be willing to pay more for those improvements. Contrary to what many people think, not everyone wants hardwood floors or granite countertops.
Keep it simple. Because time is of the essence, make it easy for prospective buyers. Remain flexible on when agents can schedule showings. Also, avoid putting contingencies on the sale if at all possible. Though a desirable move-in date makes for a smoother transition between homes, it could possibly cause you to lose the sale altogether.