Steer Clear of Home Pricing Blunders and How to Avoid Them

Your pricing strategy can make or break your chance for a quick sale in today’s economy. There are some common pricing blunders to avoid and I have some tips to help you steer clear of them. Listing correctly at the right price almost guarantees a will swiftly match up with your property. Listing at the wrong price can leave your property sitting on the market far too long. Now, you too can make a faster sale by steering clear of these errors that homeowners commonly make.

Blunder #1- Not Researching

Investigate past sales in the local market. Many first-time sellers tend to base their sale on the listing price of the house down the street. Yes, knowing the competition price is important, and current listing prices are a indication of what your house will sell for. Many real estate professionals can give you an estimate of your home’s value, which will help take away the guess work. This report will show you the recent sales of homes in your area that are similar to yours. This is a very effective way to price your home.

Blunder #2 – Hiring the wrong agent

Never take the highest number thrown out when asking several real estate agents to price your home. This practice is unethical and will cost you time plus money. You’ll end up having to slash the price after it’s been on the market for a while. Try to interview at least three agents and use the one that you think can back up the listing price with comparative market analysis.

Blunder #3 – Being Emotionally Involved

It’s natural to have sentimental feelings for your home. Afterall you’ve spent a lot of time and energy, and you’re attached. It’s understandable, but it’s also extremely difficult for agents to deal with. You have to remember this is a business agreement. Therefore, try not to take it personal if you get a lowball offer. Think of it as a starting point of a negotiation that could end up a sale.