* Start with a price you want to get
* If you are not getting many showings, or offers, reduce the price.
* Many sellers think you have to start with the perfect price, but you do not. Starting high to test the market is ok as long as you do not let it sit on the market overpriced.
Many home sellers over price their homes. The biggest mistake is not making big enough price reductions often enough.
Your goal is to sell within a certain time frame and get the most for you home as possible.
No agent can tell you the perfect price to achieve this goal, but what we can do is give you the "Selling Formula" to achieve this goal.
If you need to talk with us, please call 817-283-5134.
From a recent article:
Pricing your home correctly do you want to Sell or List?
Don’t chase the market down, it’s like Chasing a ball downhill
Buyer’s market or seller’s market – the simple fact is that a home is worth only what a buyer will pay for it and hopefully the appraiser agrees!
True Market Value is what a Buyer will offer, and a Seller Accept.
The simple law of supply and demand usually determines the final sales price. When there is a glut of homes for sale, buyers have more choice and more power in determining price and terms, creating a buyer’s market. If there are fewer homes for sale in your area, then buyers must compete for those listings, making is a seller’s market.
So, if a home is to get attention in either of these markets, you’ve got to price correctly against the competition.
Do not overprice your home, because you may end up making even less money than if you had priced properly from the start. Why? Because sellers who overprice have to keep chasing the market down by reducing their price. Do you know how to stop a ball that is rolling down a hill? You have to get in front of it to catch it. It’s the same in real estate. Price your home in front of the market and you’ll “catch” a buyer.
While setting a price is ultimately the Sellers decision and their decision alone, and hopefully they listen to you, the professional real estate agent’s advice. You want to set a realistic figure for the home’s value. If they choose not to conform with the current market value for the home, then you won’t be a seller, you’ll just be an owner with a “For Sale” sign in their yard.