How Pricing Your Home Correctly Makes a Big Difference

Please contact Tobie Andrews Real Estate Media for all of your residential and commercial photography needs. Photos, video, and drone. Let us help you! tobieandrewsre.com

Even though there is a huge buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you are ready to sell. Here is why making sure you price your house correctly is crucial in driving the best price for the sale.

If you have ever watched the show “The Price Is Right,” then you know that the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your house, setting it at or just a little below market value will increase the visibility of your listing and direct more buyers your way. This strategy actually boosts the number of buyers who will see your home in their search process. Why? When potential buyers view your listing and see a great price for a fabulous home, they are probably going to want to take a closer look. This means a greater number of buyers are going to be excited about your house and more prone to make an offer.

When this happens, you are more likely to set up a scenario with numerous offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right – or pricing it to sell immediately – makes an immense difference.

Here is the other thing: homeowners who make the mistake of overpricing their homes will ultimately have to lower their price regardless after they sit on the market for an extended period of time. This leaves buyers contemplating if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.

Bottom Line If you are considering selling your home this year, then it is best to meet with a licensed realtor. That way you have a professional on your side to help you properly price your home and maximize demand from the start.

Please contact Tobie Andrews Real Estate Media for all of your residential and commercial photography needs. Photos, video, and drone. Let us help you! tobieandrewsre.com