Pricing is going to be the single most important factor in getting your home sold. Pricing it correctly.
Zillow will tell you one thing. A “neighborhood expert” might tell you something else. This can sometimes be a delicate conversation, particularly if you think your home is worth X, and the rest of the world thinks it’s worth Y.
In its most basic form, here’s some guidelines:
The Market Value of Your Home is NOT:
- What you have in it.
- What you need out of it.
- What you want.
- What it appraised for.
- What you heard your neighbor’s house sold for.
- What the tax assessor says it is worth.
- Based on memories and treasures.
The True Market Value of Your Home Is What a Buyer is Willing to Pay:
- Based on today’s market.
- Based on today’s competition.
- Based on today’s financing.
- Based on today’s economic condition.
- Based on the buyer’s perception of the condition.
- Based on location.
- Based on normal marketing time.
- Based on showing accessibility.
Properties That Sell in Today’s Market: On a Scale of 1 – 10, the “10’s” Are The Ones That Are Selling. How Can Your Property Be A “10”?
- By improving the condition dramatically.
- By offering good terms.
- By improving the way the home shows.
- By pricing it realistically.
As a Seller there are 3 things you control, and 3 things you can’t control:
- The price you ask.
- The condition of the property.
- Access to the property.
As a Seller you do not control:
- Market conditions.
- The motivation of your competition.