is it important to list your home at the right price

Why Is It Vital to List My Home For the Correct Price?

How Important is the Listing Price

One key way to help sell your home more quickly is to ensure that you are pricing your home at the correct price point. Pricing your home appropriately ensures that people are paying market value for the property and will entice more buyers to consider purchasing your home. You might even receive multiple offers for your home, which could even cause one of your offers to be higher than your original asking price.

The following are two key reasons why you should be sure to list your home correctly from the day it goes on the market:

You Will Attract More Buyers:

If your home is listed at a fair price, you can attract more buyers to look at your property. Keep in mind that the higher the property price goes, the fewer buyers you will attract to look at your property. Buyers have a budget, and the more reasonably priced your home is, the more buyers it will appeal to, and the more interest you will have in purchasing your home as it won’t be overpriced.

You Will Interest More Realtors:

If your price point is appropriate for the property that you are selling, you will attract more realtors to bring potential buyers through your open houses. For example, if a real estate agent is looking for homes in the $450,000 to $500,000 range and your home is listed at $559,000.00, realtors will not see your property online because it is outside their price range.

How Do I Determine That “Sweet Spot” Price Point?

Finding that “sweet spot” (you are asking what your home is worth but not overcharging) price point involves several steps, including enlisting the assistance of a real estate agent to help you find the perfect price point for your home. The following are some steps that need to be taken to ensure that you list your home at the appropriate price point for it to sell as quickly as possible:

  1. Complete Any Necessary Upgrades/Remodels: If you want to remodel anything in your home or make any upgrades to your home, make sure they are those that will pay dividends in the future. Make sure to do your homework, understand the return on your investment, and get the upgrades or remodels done before you begin the listing process for your home.
  2. Fix Anything Broken: It may go without saying, but little things that are broken that you don’t fix can really turn off a prospective buyer. For example, burnt-out light bulbs or a broken garage door opener won’t look too good when it comes time for the open house, and basic items in the home don’t function as they should.
  3. Check Other Sold & Unsold Properties In Your Area: Be sure to look at both sold and unsold properties in your area to get an idea of what you should be charging for your home. It would help if you compared things like upgrades, updates, etc. when considering what your home is worth. You want to ask buyers to pay enough, but if you ask them to pay too much, your home won’t sell.
  4. Get a Real Estate Agent Involved: You will likely want to get your real estate agent involved to get a professional opinion on what you should be asking for in your home. They can shed insight into the situation whether your asking price is under or over what it should be.

Following these steps will help you determine a fair price for your home to sell faster without losing any money on the home you are selling. Getting the most out of your home will allow you to pay off the rest of your current mortgage and put the rest of the leftover towards the next home you purchase to start a new chapter in your life.

If you are concerned with making the most profit on your home possible, than you should look into how realtors are paid. Most of the time, the easiest way to save thousands of dollars is to simply use a discount realtor.