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How To Price A House To Sell Profitably

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Wheatland Realty Agent Nicole Tudisco discusses 3 factors that will help you sell your home for a profit.

It is always possible to sell your house quickly, but what you really want is to make a profit – as much profit as possible right? No one wants to leave any money on the table!

 

So, today lets look at 3 areas to strongly consider in order to sell your house quickly AND profitably….

1) Do Not Over-price the home

Buyers have the highest interest in your home when it’s new to the market.  You want to introduce it with the most fitting price you can right from the get-go.

Please note that over-pricing will:

  •   attract the wrong prospects
  •  discourage or eliminate offers
  •    reduce advertising response and associate/agent activity
  •  help sell competing homes!

Be careful not to fall into the trap of setting your price to what you need rather than what the market will bear. This is one of the biggest mistakes you can make.  These days everyone is an informed buyer with tons of market knowledge.  Buyers can easily recognize when you are completely out of range.

2) Be Sure It’s Move-in ready

The key here is to eliminate objections. If the buyer has nothing to complain about they get even more excited about your house.  It’s time to address those repairs you’ve been putting off.  Buyers will notice and consider this when making an offer on your home.   Remember, buying a house and making it feel like home is work and Buyers don’t want anything to compound that as they move in.

Common touch-ups that prove worthy include:

  •  applying fresh neutral paint (stay away from white or cream)
  •  replacing carpet
  •  tightening railings and door knobs
  • replacing any wood rot around windows
  •  repairing broken screens
  • putting in fresh mulch and trimming
  • caring for broken door bells and worn front doors

Think of the housing market like a beauty contest because that’s basically what it is.

3) Eliminate All Negotiations

As we’ve mentioned before, “priced right and showing in top condition” will eliminate objections from the buyer and take away any opportunity for negotiations. This plays to your favor most when it comes time for them to write an offer. You are shifting the power to your favor because they know the house is the best one in the local market. That’s the leverage you want! You don’t want to be justifying conditions to a buyer, that isn’t conducive to achieving the highest possible price. Also the more “perfect” your property is, the more buyers you will attract and, who knows, you could even get more than one offer. That is truly the ideal situation for tilting the money in your favor!

As a realtor, I will always tell my clients the truth on what they need to do to sell but it’s ultimately up to them what they will do.  As their agent, I will honor their choices, but it’s important to know that cutting corners could be cutting dollars out of your pocketbook.  

Remember, the last thing you want to be doing is chasing the market!

Bottom line is…

There is always a range in which you could price your house.  You can certainly shoot for the higher limits in that range, the key is to make sure it is justifiable.

If you have questions specific to your personal situation, please contact me.  I will give you my expert opinion based on the details surrounding your property.

My best always!

Your Cure for the Common Realtor,

Nicole 

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