Selling Your Home

The Selling Process

Most sellers are emotionally attached to their homes, and because of that, pricing can be a tricky conversation when it comes time to sell. No matter if you think your house is the best on the block, and no matter how much money you put into it, your home’s value is really what a buyer is willing to pay for it. So, how do you come up with that perfect list price?

Pricing a home is more than just looking at a few comparables. There is an art to the math and logic of it. So, when we talk about pricing a home, the first thing any seller should do is enlist the help of an experienced local REALTOR®.

Any tech savvy homeowner knows there are websites out there that will provide a price estimate, however  these sites are not always accurate. The best way to ensure you are listing at the right price is to find a market area knowledgeable REALTOR® who can put together a market analysis and help come up with the value range for your particular home.”

In a comparative market analysis (CMA) an experienced REALTOR® will look at other properties in your neighborhood that are currently listed, those that recently sold, and those that failed to sell and were taken off the market. While a CMA is based on hard data, it is also based on a REALTOR’S® in-depth knowledge of the area.

Most REALTORS® will take a look at the analysis and other factors, including interest rates, the current economy, time of year, etc., and use all of the information to determine a value range. Also as important to the research, the seller’s needs are also taken into consideration.

It’s important to find out what the seller hopes to accomplish, and that will help us decide where we price the home within that range. Is money more important? Or are we dealing with an issue of time? If the homeowner needs to sell quickly, we may price differently than we would if we had the luxury of more time.”

With the busy spring season quickly approaching, sellers may be tempted to list at a higher price than suggested just to see if they can get it, but experts warn…don’t do it. Research shows that overpricing a home at the start commonly leads to selling at a much lower price than you could have originally gotten. Remember, your A+ buyers are the first people through the door, and if you’re not priced competitively, they will quickly move on.

.If you are considering selling your home, connect with a local, trusted REALTOR® to ensure your home is priced correctly.