
While this is not the frenetic market we saw during the ‘unicorn’ years. Homes that are priced correctly are still selling quickly and several offers are being seen at this time. This is because the number ofhomes for saleremains very low. Thedatafrom the National Association of Realtors (NAR) show that 76% of homes sold in one month and the average saw 3.5 offers in June.
To prepare and see advantages like these, you must trust an agent. This professional has the experience necessary to find the right selling price for your home, which is what is at stake if that price is not accurate for the current market value.
The price you set for your property sends a message to potential buyers.
Price too low and you may raise questions about the condition of your home or lead buyers to assume that something It’s wrong with her. Not to mention, if you undervalue your home, you could leave money on the table, which decreases your future purchasing power.
On the other hand, by pricing it too high you run the risk of discouraging buyers from visiting the house in the first place. place. When this happens, you may have to reduce the price to try to reignite interest in your home when it comes on the market. for a while. But keep in mind that a price reduction may be seen as a red flag to some buyers who will wonder why the price was reduced and what that means about the home.
A recent article NerdWallet’s sums it up this way: “Your home’s debut on the market is your first chance to attract a buyer, and it’s important to get the price right. If your home is overpriced, you run the risk of buyers not seeing the home for sale… But price your home too low and you could end up leaving some money on the table. A bargain price could also turn away some buyers, as they may wonder if there are any underlying problems with the home.”
Think about setting the price of your house as a goal. Your goal is to aim squarely for the center, not too high, not too low, but right at market value.
Price your property fairly based on market conditions increases the chance that you will have more buyers interested in buying it. That makes it more likely that you’ll see multiple offers, too. Plus, when homes are priced right, they still tend to sell quickly.
To get a high-level view of the potential disadvantages of overvaluing or undervaluing your home and the advantages of pricing it at market value, see the table below:
Lean on the experience of a professional to set the correct price for your home
So why is an agent essential to finding the right price? Your local agent has the skill and perspective necessary to find the market value of your home. They will use their experience to determine a selling price by evaluating:
- Prices of recently sold homes
- Current market conditions
- The size and condition of the house
- The location of the house
A Real Estate professional analyzes these factors to ensure that the selling price of your home is in line with the current market.