How perfectly you price your home plays a critical role in ensuring that you get the best price for your property in a hassle-free manner. Listing your home for a low price will only make you repent later that you chose the raw end of the deal yourself. On the other hand, a sky-high price tag will leave you with no buyers. Between these two ends of the spectrum is the sweet spot — the ideal selling price. However, pricing is no child’s play and many end up making mistakes that cost them dearly. In this blog, we will share a few of them so that you don’t go down the same road!
Mistake #1: Not doing market research
This mistake mostly leads sellers to overprice their homes! You can’t really set a price tag on your home without knowing the value of the other properties in the neighborhood. In addition to this, it is also important to take the current real estate market’s condition into account before you move any further. If it’s a buyer’s market, you may be faced with a lot of negotiations to lower the price
Mistake #2: Thinking that you’ll get the asking price
Just like you, buyers will do their research too. They will come armed with information about recent sales in the area and also carefully assess your home for the repairs they may have to undertake before moving in. They will use these points to negotiate a lower price for themselves and get a better deal. Expect buyers to negotiate because you would too! We recommend that you hire a skilled real estate agent in Houston, TX to ensure that you get a fair price for your home sweet home.
Mistake #3: Waiting it out
The last thing that you’d want is for your home to sit on the market for months! Sadly, this is often the case with first-time home sellers who wish to sell their homes without external assistance. They end up overpricing their home and then wait for the ideal, “perfect” buyer. The result? A home that seems suspicious to buyers because it’s been listed for quite some time. Many may end up thinking that something is wrong with it. Moreover, it may be difficult to find online because of all the new listings.
By steering clear of these mistakes, you will be able to maintain objectivity and ensure that your home finds a buyer fast. Give us a call if you have more real estate pricing questions!
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