Choosing Your Asking Price Without Local Market Knowledge
To arrive at a realistic asking price for your home, be sure to get a comparative market analysis from a full-time REALTOR who is familiar with your market area or neighborhood. Homeowners who assume they can identify what their home would sell for is a lot more than simply checking online listing websites. A realistic value will certainly vary based on available inventory, time of year, recent sales prices and so much more!
Absent-Minded Approach on Your Pricing Strategy
Be sure to use strategy when choosing your asking price! When buyers search real estate websites, they typically use price range parameters, such as homes “between $250,000-$300,000”. If you set an odd or unusual asking price to make your listing stand out, say $303,450, your home would not appear in their search results. In an effort not to miss out on any potential buyers, consider a price that falls within the range, maybe something like $297,600.
Overpricing Because You’re in No Hurry to Sell
Do you think that pricing high and then waiting for an offer will produce the most money? Think again! Even in our current seller’s market, statistics show that overpriced homes generate fewer showings than those priced closer to the market average. Buyer interest is created during the first few weeks after a home hits the market. The longer a home languishes on the market, the less likely it will be shown. Also, when a correctly priced home hits the market, it will more likely go under contract faster and sell closer to the asking price than overpriced homes.
Expecting the House to Sell Itself Without Any Prepping
Even in our current seller’s market, you need to be certain your home is in topnotch condition, both inside and outside, if you want to sell in a reasonable time frame and at a good price. Over the years, I’ve developed a “Pre-List Process” that I follow for all listings to help ensure a home is “Show-Ready”, not only for our professional photo shoot but also for its market-debut.
Getting Emotionally Involved and Taking it Personally
No matter how hard it is, ALWAYS keep in mind that selling your home is a business transaction. SO, don’t take it personally or get offended if you receive a low-ball offer. Consider it to be a great opportunity to open negotiations and know there are ONLY 3 ways to respond – Either a “Yes”, a “No”, OR a “Counter-Offer”.
Trying it Yourself as a “For Sale By Owner”
According to the National Association of REALTOR® 2019 Profile of Home Buyers and Sellers, FSBO homes sold for significantly less than homes where sellers utilized the services of a REALTOR. On a national basis, their 2019 Profile further states that FSBO homes sold at a median price of $200,000 vs a median price of $280,000 for those homes where sellers hired a real estate professional!
Thinking of SELLING a HOME in the Spring Hill, Brooksville, Weeki Wachee or the Hernando Beach areas of Hernando County, Florida? SELL YOUR HOME with the Help of Our Experienced TEAM!
Thinking of BUYING a HOME? Check out our Aerial Video Tour of Hernando County to see what our County has to offer you and your family! Visit www.GailSellsFloridaHomes.com to explore our state-of-the-art MLS Map Search Feature where BUYERS can SEARCH MLS listings and SELLERS can SEE what their competition is doing!
Until then… it’s all about YOU!