If you are planning to sell your home in the Triangle market, you may be tempted to try listing it at a high price just to see if you can get it. You see that houses in your neighborhood are selling in a matter of days with competing offers and think, “Why can’t I get a piece of that pie?”
DON’T DO IT.
Pricing your home appropriately from the beginning is critical in selling it at the best price. Research shows that if you price your home too high, then you must lower the sales price numerous times before it actually sells and you end up selling it for much less than you should have.
In the Triangle market in 2016, homes that were priced appropriately from the beginning sold on average at 99.55% of the list price. On the other hand, if it was priced too high in 2016, then it ended up selling at 92.76% of the original sales price!
If you price your home too high, some potential buyers won’t want to look at it at all, while others will simply schedule an appointment, go look at it, then walk away without making an offer.
A lot of sellers who interview Realtors will choose the listing agent who suggests the highest price for their property. BEWARE… You want to choose a listing agent, like Joe Ward, who provides the best comparative market analysis and explains how your home should be priced to sell quickly. You want a Realtor who tells you the truth, not one who tells you only what you want to hear.
In a market like ours, you don’t want your home to sit on the market for sale for weeks on end… you want your Realtor to have to send out an email like this one I received last week on a $240,000 home I was planning to show the day it went on the market:
I also had a situation a couple of weeks ago where a townhome went on the market on Wednesday with showings starting at noon on Saturday. I scheduled an appointment for noon on Saturday. Thursday I received an email that someone had made a strong offer SIGHT UNSEEN and they had accepted the offer!
So choose the RIGHT professionals to work with in the selling of your home and the purchase of your new home. In this market, you need someone who can help you line the dominoes up right to help you avoid moving twice!
Pricing your home to sell is the first piece of the puzzle…
We are a real estate team who cares about our clients. If you are considering buying or selling your home and would like some honest, professional, and experienced guidance, please contact Valerie DeLoach at 252-916-5048 or firstname.lastname@example.org.