How to Price Your Home in a Sellers Market
Many areas across the country are experiencing a very strong seller’s market. For sellers, this is a perfect opportunity to get top dollar for your home and sell in the least amount of time.
Here are 3 pricing strategies to consider.
Listing at Market Value:
Everyone loves “realistic sellers.” In our advancing sellers market, listing your home at market value will attract the right buyers and encourage several full-price offers with straightforward terms and fewer contingencies.
Listing Too High:
Tempting as this might be, this strategy is risky. Home Buyers are savvy and they will not over pay in this market. Pricing a home too high can result in wasting valuable days on market time with little or no interest. Even in a strong sellers’ market, to get a "record breaking" price for your home, it should be priced within 5-7% of market value and should have features that buyers are willing to pay more for such as updated kitchens and baths, newer mechanicals and nicely upgraded outdoor living areas.
Listing Too Low:
When listing below market value, the goal of this strategy is to encourage a bidding war that results in a sales price over market value. This typically works best for homes in move in ready condition, but this can backfire if the home is outdated and in poor condition, getting low ball or no offers and having to make a price reduction and sell for less.
For more Real Estate Tips, please visit my website at: www.KateRossSellsHomes.com or call/text me at Kate Ross #317-407-5889