Selling a home is an emotional process. With the vast amount of memories you have in the house, separating the sentimental value from the actual value of the property can be a challenge. However, it’s important to remember that selecting the correct list price can be the difference between selling your property quickly or waiting months for an offer to come through.
Correctly pricing your home helps speed up the home-selling process and has several other advantages. Here is a closer look at a few of these key benefits.
As mentioned above, the price you choose to list your home at can significantly impact how fast you receive offers. While listing the property above the price of comparable homes may result in a slightly higher final sale, you’ll likely have to wait a much longer time for a particular buyer to come along that’s willing to pay the higher price tag.
Correctly priced homes often receive offers much quicker than overpriced homes and generally see multiple interested buyers within the first few weeks.
Many sellers assume that if they price their home below market value, they’ll get more offers quicker. Unfortunately, a low price may have the opposite effect on buyers and could cause potential homeowners to look elsewhere.
There is a stigma in the housing market that a home priced below market value has hidden problems. While it might not be the case with your home, there’s a chance buyers might not want to risk buying a property that could have something wrong with it.
Listing your home within the price range of similar houses nearby can help avoid this low-quality stigma.
Setting your home’s listing price at the current market value can result in a sale yielding the best return. Often, homeowners who price their property too high will wait months to sell their house and risk the housing market turning over. If the value of homes begins to drop, the homeowner may need to reduce the asking price drastically.
Likewise, underpriced houses often receive lowball offers that leave money on the table.
To ensure you receive the most money you can for your home, setting a list price within the range of recently sold properties will generate the most action among potential buyers.
It’s never easy deciding a price to sell your house for. Over the years, you’ve invested your time, money, and energy to make it the perfect home for your family. However, the market often dictates the price of a property, not the investments you’ve made in it.
Working with a real estate professional is the best way to ensure your home is priced to sell. They understand the local housing market well and can often assist you in getting the most value for your home. If you're considering selling your home in Laguna Hills, California, reach out to Melody Smith for guidance. 949-401-7033.
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