How to get top dollar for my home without overpricing it?
There’s a fine line between overpricing (which is a recipe for disaster) and maximum pricing. Find out the secret in this article..
There’s a fine line between overpricing and maximum pricing. It’s important to really think about the sales price carefully. I am committed to getting the very best and highest price for sellers. There is a difference between pricing the house at the top of the range and overpricing the house. How to know the difference? I always prepare a Comparative Market Analysis. I can also prepare a detailed cost comparison with recent sales trying to make adjustments for differences in the comparables so that it is more of an “apples to apples” comparison.
It’s important to understand the trends in your area, not just in the market in general, but in your specific area. How long do homes in your price range and community take to sell? Oftentimes more expensive homes do take longer to find just the right buyer.
Another important factor will be the marketing efforts we make to reach buyers and other Realtors. We have an exceptional internet marketing strategy that brings a lot of buyers to our multiple websites. We also benefit from Coldwell Banker’s web presence (second only to Realtor.com in real estate web traffic). Price becomes particularly important in this age of internet marketing. If your property is even slightly over the limit then it will be in a higher price range and a whole group of potential buyers may not know about it. Additionally we get the word out to other Realtors both in our network and in all of the other agencies. Agents are looking at houses everyday and know the value of homes in each neighborhood. If a home is overpriced, most agents will not make an effort to view it or show it to their clients so your home will miss out being on their show lists.
Another predictor of getting the highest price will be the condition of your property. Have you prepared the house properly for marketing? I spend time with sellers making sure that their home is going to show its best features and be compelling from the street. I can give you tips to make buyers say “Wow!” when they drive up. How does the house “feel” when you walk inside? Is it inviting and warm? Are there repairs that need to be done? Have you “decluttered” the house? These are all ways to increase the marketability of your property.
Looking at all of these factors should help you to arrive at a price that is appropriate for your home. However you should always keep in mind that you won’t really know how your home will be received until you actually put your home on the market. At that time, it’s important to get regular feedback from other Realtors and their buyers as to the condition and perceived value of the house. I send out feedback requests after every showing. You should be prepared to act quickly to lower the price if there are indications that your house is priced too high. It’s important to be as competitive as possible if you want your home to stand out from the rest.
Remember, time is money and keeping the house on the market for longer than necessary will cost you more in loan payments, home owner fees, utilities, property taxes and eventual home value, so try to get it sold promptly.
Contact me today for a full Comparative Market Analysis.