Thanks to the Internet, buyers have access to more information regarding homes for sale than ever before. They learn as much as they can about a home, weigh what’s most important to them and then make an offer accordingly. Remember, a buyer decides what a home is worth (or rather the appraiser) and a seller decides what price they are willing to let it go. Here are five things to consider when pricing your home for sale.
- Location, Location, Location:
You can’t control your property’s location – it is what it is – but know that buyers seriously consider location as a reason for purchasing a home. As a seller, focus instead on optimizing what you can change, like condition and price.
- Your Property’s Condition: For example, if the age of your roof and mechanicals are close to or past their life expectancy, a buyer is going to consider offering you less knowing they will need to invest in updates in the near future.
- Your Floor plan: Does the floor plan of your home appeal to more buyers or fewer buyers? Does it have enough bedrooms and bathrooms? Does your property’s interior decor appeal to the average buyer? Exceptional floor plans and décor typically require an exceptional buyer, which could take longer to find in today’s market.
- Price: As a seller, choose your price carefully. If your location, your property’s condition and its floor plan is above average, meaning appeals to more buyers than fewer buyers, then pricing your property based on recently sold and comparable properties should position you to sell sooner than later. Click here for this week’s local Market Update report.
- Time: If you set your price higher than what a buyer reasonably will pay based on the above considered buyer criteria, you may be waiting a much longer time to sell.
A SPECIAL NOTE: I am dedicating this week’s real estate blog to the memory of Marguerite Burbank, a friend and local real estate professional is . Please click here to visit a beautiful tribute to Marguerite.