Pricing Your Home Right to Sell

by The Graham Team

When it comes to selling a house, pricing is key. The housing market slowed down last year due to higher mortgage rates, which means that sellers need to adjust their expectations accordingly. Pricing your house appropriately is crucial as it sends a message to potential buyers. As realtor.com explains:

“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”

If the price is too low, you may leave money on the table, while if it's too high, you may deter buyers. A lower-than-expected price tag may make buyers wonder if there is something wrong with the home, and a higher price may discourage them from even viewing the property. On the other hand, if the house sits on the market for a while, you may have to lower the price to try to reignite interest, but a price drop can also be seen as a red flag by some buyers, making them wonder what that means about the home.

To avoid either headache, it's important to price it right from the start. A real estate professional knows how to determine that ideal asking price. They balance the value of homes in your neighborhood, current market trends, buyer demand, the condition of your house, and more to find the right price. This helps lead to stronger offers and a greater likelihood that your house will sell quickly.

The visual below helps summarize the impact your asking price can have:

In today's market, a real estate professional can also help you to ensure that your house is presented in the best possible light, making it more attractive to potential buyers. They can advise on things such as home staging, highlighting the best features of your home and making necessary repairs.

In summary, if you're thinking of selling your house soon, it's important to price it right. A real estate professional can help you to determine the ideal asking price, based on a variety of factors, to maximize your sales potential and minimize your hassle. Homes that are priced at current market value are still selling, so it's worth taking the time to get it right.

702-930-9551 | Team@GrahamTeamNV.com

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