Why You Need a Professional to Determine the Right Price for Your Home
If your daily routine has changed recently, and you're looking to make a move, taking advantage of today's sellers’ market may be just what you need for your summer getaways. With so many offers coming in, this might be your chance to secure the contract you want for your home if you're prepared to sell.
To ensure that you make the best judgments when it comes to pricing your property, you'll need an expert on your side to guarantee that you do everything correctly, especially with regard to price. Even in this competitive market, you can't just put any price tag on your house in order to get a good deal. Setting the correct asking price is one of the most crucial aspects since it allows potential customers to notice your property (and get interested in it) from the first time they see it on the market. That's where a real estate professional may help.
Why Pricing Your House Right Is Important
Setting a selling price for your home sends a message to potential buyers. Setting it too low might raise concerns about the condition of your property or it could lead buyers to think that there is something wrong with the property. Not to mention the fact that if you undervalue your home, you may miss out on money that could help you acquire other properties in the future.
On contrary, setting the price too high will run the risk of discouraging buyers. You may have to offer a price reduction in order to re-ignite interest in your property after it has been on the market for an extended period of time. You should be cautious, though; a price reduction might be interpreted by some buyers as a warning that the property isn't worth what they had anticipated.
In other words, consider pricing your home as a target. Your aim is to aim for the middle – not too high, not too low, but right at a fair market price. When pricing your house fairly according to current market conditions, you increase the likelihood of having more purchasers who are interested in buying it. This translates to more competition, which increases the chance of multiple offers. Additionally, if a bidding battle occurs, you're likely to get a higher final sale price. Furthermore, when houses are priced correctly, they typically sell fast.
To learn more about the potential downsides of over- or underpricing your property, and the benefits that come with pricing it at market value, see the chart below:
Lean on a Professional’s Expertise
There are a number of variables that influence house pricing, and balancing them is critical. That's why you should seek the help of a professional real estate advisor when you're ready to relocate. A local real estate advisor will be knowledgeable about the following topics:
- The value of homes in your neighborhood
- The current demand for houses in today’s market
- The condition of your house and how it affects the value
A real estate agent will weigh these factors to ensure that the price of your property makes the finest first impression and gives you the highest return on your investment in the end.
Pricing your house appropriately is the key to a successful house sale. The Perreault Group could help you set the right price for the local market, for your home’s condition, and to stand out from the competition.