What is your biggest fear when selling your house? For many sellers, it’s looking stupid in friends’ eyes when pricing their home to sell. When we sold our place in December at the first open house, my wife’s first reaction was, “Could we have sold it higher?” Maybe or maybe not. Maybe we listed it for just the right price.
Biggest Fear When Selling Your House?
Various aspects determine the success of selling and buying a home, but the main one is the price. Every homeowner planning to sell a home would want to overprice their home, while a buyer wants to bargain to the last coin. Both overpricing and bargaining to buy are good choices and can at the same time be dangerous. It is prudent to make sure you strike a balance in your pricing, which involves researching the right amount that is realistic and up-to-date.
If You’re Selling Your Home
If you’re selling your home, you need to understand that pricing your home correctly from the beginning is absolutely critical. The most common reason a home doesn’t sell is that it is overpriced.
Here are ten signs your home is overpriced.
Generally, most homes in a neighborhood are priced pretty much alike. They were all built around the same time and close to the same size. There will be some differences when a home is upgraded, or there’s an addition. While it’s not impossible, homes that have a $100,000 value difference are quite rare. By completing a comparative market analysis, you can see what houses have sold for in the past six months.
A sign your home is overpriced: You have had no or very few showings. If your home listed for sale a few weeks ago and you’ve had only a couple of showings, you need to adjust the price in the hopes of generating some activity and excitement.
If You Haven’t Received an Offer
You haven’t received an offer in the two or three weeks after it was put on the market, your home is overpriced.
If you interview three real estate agents and one of the real estate agents suggests a $30,000 higher price than the others, you need to know how they came up with that number.
Neighbors are selling, and yours is not. There are so many things that can influence the sale of a home. If yours is not selling, it is overpriced.
Open Houses are Duds
Open houses are duds. If you believe that open houses are necessary to sell your home, and not one person walks through the door during the two-hour open house, then your price could be an issue.
Look at Internet Traffic. If there has been little to no internet traffic or property inquiries, then this is one of the ten signs your home is overpriced
Feedback. One of the most significant benefits of hiring a top real estate agent is knowing the importance of receiving feedback on their listings. If you’re not receiving feedback from showings, it may be time to think about firing your real estate agent. Or feedback could be saying the décor is not compatible with buyers or the house is overpriced. It’s time to make adjustments.
You receive low-ball offers. Most overpriced homes will not receive any offers. However, you may receive low-ball offers. Most buyers don’t like to make low offers. They feel it is embarrassing to both parties. If you do receive low-ball offers, your house is overpriced.
An expired listing. Possibly the most obvious way to know a home is priced wrong occurs when it doesn’t sell, and the listing expires.
Get the Price Right When You List the House.
That’s when there is the most attention and excitement. The longer it’s on the market, the more it becomes stale, like bread, and potential buyers wonder what’s wrong with the property.
If you want to forego all the guesswork and get it over with right away, why not call us?
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. We offer the simple truth about your home and how we can help you sell it fast.
Give us a ring. We would love to help you understand the process and to answer all of your questions. You can reach us at 402 999.0577.