How to price your home correctly in today’s market

Website design By BotEap.comThere are many factors that come into play when trying to sell your home, but the bottom line is price. Here are some tips on how to price your home as you prepare to put it on the market.

Website design By BotEap.comSince houses aren’t selling like they used to, it’s obvious that the market has changed, so what’s the most important thing for people to keep in mind right now?

Website design By BotEap.comI have worked in real estate for over 24 years and love what I do, but my biggest challenge continues to be going to someone’s home and telling them that their home may not be worth what they hoped or expected it to be. In some cases, if you just bought your home, it may not even be worth what you paid for it a few years ago. So my number one challenge is to make it happen for people: to make people understand that the price is the most crucial part. Yes, it is a beauty pageant, but it is mainly a price war; we have to price it correctly.

Website design By BotEap.comHomeowners should also assess their mindset before beginning the process of selling their home.

Website design By BotEap.comWhat I mean when I say mindset is, “Do I really want to sell? Do I have to sell? Am I willing to pay the price to sell in today’s economy?” If you’re thinking of selling your home, you need to ask yourself these questions because if you’re not really ready, you may want to consider other options, like renting your home instead, or maybe a lease buyout, or holding it off for a few years until the market turns around. But don’t venture out and just experiment; It’s no fun having your house for sale right now. The market is very, very competitive.

Website design By BotEap.comPeople should also take into account some external factors; not just what works for them right now.

Website design By BotEap.comWe all make plans with our imagined fairness; I did the same. I sold my house not long ago and thought I had “x” amount of equity in my property and when I closed it turned out I had about two-thirds of what I thought I had. We make plans with equity that we don’t have. The market doesn’t care about our plans, unfortunately, I’m sorry, but it doesn’t care, so always keep that in mind.

Website design By BotEap.comEveryone is looking for a deal, so you need to take advantage of it right now.

Website design By BotEap.comIt’s a price war, but it’s a beauty contest. The price war part is that it has to be a great value. It’s got to be a wonderful value because we’re competing with distressed properties, we’re competing with foreclosures, and we’re competing with houses that people have moved on. One of the ways you can compete is to find an agent who will waive their full share of the commission. This type of deal will lower the costs of selling your home so that, in turn, you can lower the selling price of the home. A lower asking price will bring more traffic through the front door because it looks like a better value from the outside. This type of program works very well for many people.

Website design By BotEap.comHow can anyone find out what their home is worth right now?