Now is a great time for sellers to take advantage of the local real estate market! Attractive pricing and presentation are arguably the two most important things to consider when selling your house. As the saying goes, you only have one chance to make a great first impression and that’s true in real estate as well. Pricing your house right the first time is crucial to selling quickly for the best value.
Proper pricing is more than just pulling a magic number out of a hat; it’s part science and part art. A house is only worth what a market will support. As your local real estate professional, I have access to recently sold properties & pending sales that will help guide us in determining the price the market will bear. Once we have that information, we can decide together the best strategy to achieve your goals. In a seller’s market, you may wish to price at or slightly above market value. In a buyer’s market, there’s a need to be more competitive, so pricing just below the market value is key.
During the first two weeks, your house will be exposed to all active buyers. If the list price is considered too high during its “big reveal” you are likely to lose the larger audience and have to rely on only new buyers trickling in each day. According to the National Association to REALTORS, if a house does not sell in 30 days, it’s a good indication the house is priced too high. Research also suggests that the longer a home stays on the market, the deeper the discount is likely to be off the original price. It’s important to remember that when you offer your house at true market value, you’re giving yourself the best chance to get a good offer in a reasonable amount of time.
Great pricing comes down to truly understanding the current real estate market in your neighborhood. If you’d like to know what your house is worth in today’s market, call me at 616.450.0131 or email me at Michelle@grar.com. I look forward to hearing from you!
