Over the past couple of years, the
most common question we've been asked over and over is how to price your home
to attract buyers. After deciding to put your home for sale, the next crucial
decision is pricing your property according to the market and at a figure that
will attract buyers. If the price is too high, no matter how much money is
spent to market your house, or is spent by you on updates, etc... absolutely
nothing will happen. Overpricing a property is actually helping the sale of the
competition and is the biggest mistake a homeowner can make in this market or
any market. Your real estate agent want to sale your house as soon as possible.
In order to do so they will analyze the market, do comparative market analysis
(CMA) based on previous sales of similar houses in your area, and so on. If
there is no action on your house any real estate professional will tell you
that you have to reduce the price. Sometimes, and in this market it is
unfortunately quite common, one price reduction is not enough and the danger of
pricing too high originally might stigmatize your house for a while. Rely on
professionals to help you get the right picture from the get go.
The best advice we can give our
sellers is to price their house accordingly and correctly, based on the market,
to ensure a quick sale. Good luck!
P.S. If you have any questions do
not hesitate to contact us.
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