Getting the Best Price For Your Home


Pricing is the most important thing that can influence the sale of a property, usually even before any buyer arrives to inspect the property.


Not listing your property at current market value from the beginning of the listing process can cost you hundreds or even thousands of dollars in the long run. Some people are too aggressive and list themselves right out of the market from day one; others list too low and, unfortunately, prevent themselves from seeing any monetary return on their investment.


To get the best price the seller (you) needs to consider a few very crucial things before putting that “For Sale” sign out on the front lawn:


The “Under Pressure Seller”: Sometimes, selling fast is the only option. Getting the price right in this situation is crucial. Looking closely at market value and the particulars of your home can help you sell your home fast and without looking desperate and making your property a target for low bidders. Becoming educated about all there is to know about your local market (current listings, recently sold and expired listings) before listing allows you to set the bar correctly in order to get the most for your home.


The “Best Home in the Neighbourhood”: Your home is one of your most cherished possessions. Do not be blind to flaws and needed cosmetic improvements. This will cause overvaluing of the property, and listing yourself out of the current market. Listing with the right agent gives you a well informed third eye that can help price it fairly based on the current market.


The “Limited Showings Home”: Buyers want to see properties on their own time schedule. More often than not, this does not coincide with your time schedule. The best way to get a larger number of buyers to view your property is to leave a lockbox or key with your agent so your home can be shown when you are not around. Not utilizing this tool could mean your property’s new owner may have been the one who got away.


The “Meet me in the Middle Buyer”: Sometimes the best price means sacrificing a few hundred dollars to close a deal. If an offer comes in and falls apart after a long negotiation process due to a few hundred dollars, that money will undoubtedly lost in one’s continued mortgage payments while waiting for the next offer to come along. Remove yourself from the situation and look at the big picture- act rationally and ensure that your decision makes sound business sense.


The “Spend a little to gain a lot home”: Buyers make up their minds within the first few minutes of looking at a property as to whether or not they will consider buying it. So, first impressions are everything when selling your home. Sometimes spending a few hundred dollars on improvements can add thousands of dollars of value to your home. Get an objective point-of-view from your real estate professional. Click here for an overview of how you can maximize the selling price of your home. Want a seller's checklist of things to do to prepare your home for a successful showing? Email me and request a "Preparing your home for showings" checklist.


Make Cosmetic Improvements: Prospects make up their minds within the first twenty minutes. First impressions can make all the difference in selling your home. Spending $1,200 on new carpet might add another $4,000 to the price of your home. Get an objective point of view from your real estate professional. They can provide you with a list of items that will maximize the profit of your home sale.


Disclose Property Flaws: Property disclosure laws require sellers to list any flaws which they are aware of. If you are unaware of flaws or attempt to cover them up, you risk losing the sale and finding yourself in court. Get professional assistance from your agent who can introduce you to qualified inspectors and ensure the smooth sale of your home.


For Sale By Owner: Most homeowners who decide to sell their own home do so because they believe they can save on the commission. Everything has a price and selling a home carries a high one. The enormous amount of time and effort required to sell a home often surprises the "For Sale By Owner." Furthermore, many costly mistakes can be avoided with the right guidance. The majority of FSBOs end up being listed anyways, but after weeks/months have passed and the seller has wasted money and time trying to sell on the private market.


Refusing to Trust Your Agent: Would you tell a doctor that you’ve decided to conduct your own tests and come to your own diagnosis? By choosing the right Realtor, you can relax and trust their judgment. The right agent is a valuable team member who will protect your best interests and make your sale as profitable as possible. Remember, when signed to an agency relationship with an agent, that individual is hired by you to protect and advance your interest, and only your interests. They work for you.


Know Your Market: Most homes that do not sell in their first listing period are priced too high. Conversely, most homes that sell quickly are priced too low and cause the homeowner to lose out of profits. You need to understand the market and evaluate the value of your home based on fact, not gut instinct or conventional wisdom. A professional agent knows the market, and most will provide you with a comparative market analysis. If it is in black and white, it is much easier to come to terms with the correct price for your home.


Choosing a Realtor Based on Personal Relationships: Choosing the right agent is your greatest tool in getting the most for your property. Choose an agent with a strong track record and great negotiating skills. A Remax Realtron Agent knows the market well and can generate many buyers. Selling your home is one of the biggest decisions you’ll ever make, so make sure you are using the agent that best fits your plan of action and one whom you are comfortable with. By aligning yourself with a top agent you ensure that all the important issues have been addressed and handled professionally. Selling should not be a tedious ordeal. The more informed you are, the better chance you have of selling your home for the maximum price in the current market. Your agent should help you get there.


Once you and your agent have achieved a realistic sales price, your property will be professionally marketed and attract more buyers to your door. You can also expect to sell your home for the best possible price and within a acceptable amount of time.


The Benefits of Pricing Right:

  • Your property sells faster, because it becomes exposed to more qualified buyers.
  • Your home is "marketable", and will not sit on the market with little activity.
  • The closer to market value, the less time it will spend on the market.
  • A well-priced property can generate competing offers. This usually means full price or sometimes even above asking price offers being presented.
  • Real Estate Professionals will be enthusiastic about presenting your property their buyers because it will be seen as a great deal.